Garmin Ltd. (NYSE:GRMN) Shares Bought by Farther Finance Advisors LLC

Farther Finance Advisors LLC grew its stake in shares of Garmin Ltd. (NYSE:GRMN) by 10.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 986 shares of the scientific and technical instruments company’s stock after acquiring an additional 93 shares during the quarter. Farther Finance Advisors LLC’s holdings in Garmin were worth $173,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in GRMN. Clearstead Trust LLC acquired a new stake in Garmin in the first quarter valued at approximately $30,000. University of Texas Texas AM Investment Management Co. bought a new stake in Garmin in the second quarter valued at $31,000. Family Firm Inc. acquired a new stake in shares of Garmin in the second quarter valued at approximately $35,000. Benjamin Edwards Inc. increased its holdings in shares of Garmin by 73.3% during the second quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock valued at $38,000 after purchasing an additional 99 shares during the period. Finally, Headlands Technologies LLC bought a new stake in Garmin during the second quarter worth approximately $46,000. Institutional investors and hedge funds own 73.41% of the company’s stock.

Insider Activity

In related news, Director Sean Biddlecombe sold 587 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $210.10, for a total value of $123,328.70. Following the transaction, the director now directly owns 6,147 shares in the company, valued at $1,291,484.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Cheng-Wei Wang sold 10,055 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total value of $1,781,343.80. Following the sale, the insider now directly owns 40,965 shares of the company’s stock, valued at approximately $7,257,359.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Sean Biddlecombe sold 587 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $210.10, for a total transaction of $123,328.70. Following the transaction, the director now directly owns 6,147 shares of the company’s stock, valued at $1,291,484.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,479 shares of company stock valued at $2,419,502 over the last three months. 19.54% of the stock is owned by insiders.

Garmin Stock Up 1.1 %

NYSE:GRMN opened at $212.72 on Monday. Garmin Ltd. has a 12-month low of $115.34 and a 12-month high of $214.62. The firm has a 50-day moving average price of $176.88 and a 200 day moving average price of $170.13. The firm has a market capitalization of $40.85 billion, a PE ratio of 26.99, a price-to-earnings-growth ratio of 3.18 and a beta of 0.97.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.53. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The company’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.41 earnings per share. On average, research analysts expect that Garmin Ltd. will post 6.89 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on GRMN shares. Morgan Stanley lowered shares of Garmin from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $155.00 to $138.00 in a research note on Monday, October 7th. Tigress Financial increased their target price on shares of Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 19th. Barclays lifted their price target on shares of Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research report on Friday, November 1st. Finally, StockNews.com downgraded Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $162.67.

About Garmin

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.