Atwood & Palmer Inc. Has $16.85 Million Stake in Garmin Ltd. (NYSE:GRMN)

Atwood & Palmer Inc. raised its position in Garmin Ltd. (NYSE:GRMN) by 0.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 95,722 shares of the scientific and technical instruments company’s stock after acquiring an additional 215 shares during the quarter. Atwood & Palmer Inc.’s holdings in Garmin were worth $16,850,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Clearstead Trust LLC acquired a new stake in Garmin in the 1st quarter valued at about $30,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Garmin in the second quarter valued at approximately $31,000. Family Firm Inc. bought a new position in shares of Garmin during the 2nd quarter worth approximately $35,000. Benjamin Edwards Inc. boosted its stake in shares of Garmin by 73.3% during the 2nd quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock worth $38,000 after acquiring an additional 99 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of Garmin during the 2nd quarter worth approximately $46,000. Institutional investors own 73.41% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on GRMN. Morgan Stanley cut shares of Garmin from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $155.00 to $138.00 in a research report on Monday. StockNews.com lowered shares of Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Barclays cut shares of Garmin from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $181.00 to $133.00 in a report on Friday, September 13th. Finally, Tigress Financial upped their target price on Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 19th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $158.50.

Garmin Trading Down 4.0 %

Shares of GRMN opened at $163.21 on Tuesday. Garmin Ltd. has a 12 month low of $99.61 and a 12 month high of $184.42. The firm’s 50 day moving average is $174.61 and its 200-day moving average is $164.57. The stock has a market capitalization of $31.35 billion, a PE ratio of 23.01, a P/E/G ratio of 3.04 and a beta of 0.99.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.18. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Garmin had a return on equity of 17.09% and a net margin of 24.36%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.45 EPS. Equities research analysts predict that Garmin Ltd. will post 6.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Philip Straub sold 2,750 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $181.46, for a total value of $499,015.00. Following the completion of the transaction, the director now directly owns 88,622 shares in the company, valued at approximately $16,081,348.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Philip Straub sold 2,750 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $181.46, for a total transaction of $499,015.00. Following the completion of the transaction, the director now owns 88,622 shares of the company’s stock, valued at approximately $16,081,348.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Cheng-Wei Wang sold 10,055 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total value of $1,781,343.80. Following the sale, the insider now owns 40,965 shares of the company’s stock, valued at approximately $7,257,359.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,892 shares of company stock worth $2,296,174 over the last ninety days. Corporate insiders own 19.54% of the company’s stock.

Garmin Profile

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.