J.W. Cole Advisors Inc. Acquires Shares of 1,687 Garmin Ltd. (NYSE:GRMN)

J.W. Cole Advisors Inc. acquired a new stake in Garmin Ltd. (NYSE:GRMNGet Rating) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,687 shares of the scientific and technical instruments company’s stock, valued at approximately $200,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Riverview Trust Co bought a new position in shares of Garmin in the first quarter valued at approximately $26,000. HWG Holdings LP bought a new position in shares of Garmin in the fourth quarter valued at approximately $35,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Garmin in the first quarter valued at approximately $45,000. Tradewinds Capital Management LLC lifted its holdings in shares of Garmin by 33.3% in the first quarter. Tradewinds Capital Management LLC now owns 400 shares of the scientific and technical instruments company’s stock valued at $47,000 after purchasing an additional 100 shares in the last quarter. Finally, Focused Wealth Management Inc bought a new position in shares of Garmin in the first quarter valued at approximately $71,000. Institutional investors and hedge funds own 62.50% of the company’s stock.

Insider Transactions at Garmin

In other news, CEO Clifton A. Pemble sold 9,550 shares of the company’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $90.00, for a total value of $859,500.00. Following the completion of the transaction, the chief executive officer now directly owns 135,950 shares in the company, valued at approximately $12,235,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Clifton A. Pemble sold 16,089 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $97.81, for a total value of $1,573,665.09. Following the completion of the sale, the chief executive officer now owns 145,500 shares of the company’s stock, valued at approximately $14,231,355. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Clifton A. Pemble sold 9,550 shares of the business’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $90.00, for a total value of $859,500.00. Following the completion of the sale, the chief executive officer now directly owns 135,950 shares of the company’s stock, valued at approximately $12,235,500. The disclosure for this sale can be found here. Company insiders own 20.34% of the company’s stock.

Garmin Stock Down 1.3 %

Garmin stock opened at $84.39 on Thursday. Garmin Ltd. has a 52 week low of $84.37 and a 52 week high of $173.29. The business has a 50-day simple moving average of $95.34 and a 200 day simple moving average of $102.91. The stock has a market cap of $16.28 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 3.18 and a beta of 0.97.

Garmin (NYSE:GRMNGet Rating) last posted its earnings results on Wednesday, July 27th. The scientific and technical instruments company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.42 by $0.02. Garmin had a return on equity of 17.71% and a net margin of 20.31%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the previous year, the business earned $1.68 earnings per share. The firm’s revenue was down 6.5% on a year-over-year basis. On average, research analysts anticipate that Garmin Ltd. will post 4.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GRMN. Bank of America lowered Garmin from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $137.00 to $109.00 in a report on Tuesday, August 2nd. Morgan Stanley lowered their target price on Garmin from $127.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 14th. TheStreet lowered Garmin from a “b” rating to a “c+” rating in a research note on Wednesday, July 27th. Finally, Tigress Financial lowered their target price on Garmin from $208.00 to $165.00 and set a “strong-buy” rating on the stock in a research note on Friday, August 5th. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Garmin currently has an average rating of “Moderate Buy” and an average price target of $134.75.

Garmin Profile

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Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices in the Americas, the Asia Pacific, Australian Continent, Europe, the Middle East, and Africa. Its Fitness segment offers running and multi-sport watches; cycling products; activity tracking and smartwatch devices; and fitness and cycling accessories.

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Institutional Ownership by Quarter for Garmin (NYSE:GRMN)

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