Unison Advisors LLC Acquires 127 Shares of Garmin Ltd. (NYSE:GRMN)

Unison Advisors LLC lifted its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 0.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,789 shares of the scientific and technical instruments company’s stock after buying an additional 127 shares during the quarter. Garmin comprises 0.6% of Unison Advisors LLC’s investment portfolio, making the stock its 27th biggest position. Unison Advisors LLC’s holdings in Garmin were worth $4,892,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Elo Mutual Pension Insurance Co boosted its position in shares of Garmin by 0.5% in the second quarter. Elo Mutual Pension Insurance Co now owns 14,056 shares of the scientific and technical instruments company’s stock valued at $2,290,000 after acquiring an additional 70 shares during the period. Dorsey & Whitney Trust CO LLC grew its position in shares of Garmin by 3.3% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 2,309 shares of the scientific and technical instruments company’s stock valued at $344,000 after purchasing an additional 73 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Garmin by 2.6% in the second quarter. UMB Bank n.a. now owns 2,879 shares of the scientific and technical instruments company’s stock worth $469,000 after purchasing an additional 74 shares during the period. Massmutual Trust Co. FSB ADV raised its position in shares of Garmin by 17.6% in the first quarter. Massmutual Trust Co. FSB ADV now owns 542 shares of the scientific and technical instruments company’s stock worth $81,000 after buying an additional 81 shares in the last quarter. Finally, Brighton Jones LLC boosted its stake in Garmin by 5.8% during the second quarter. Brighton Jones LLC now owns 1,522 shares of the scientific and technical instruments company’s stock valued at $248,000 after buying an additional 83 shares during the period. 73.41% of the stock is owned by institutional investors.

Garmin Trading Down 1.1 %

Shares of GRMN traded down $1.79 during mid-day trading on Thursday, reaching $163.52. The company’s stock had a trading volume of 59,852 shares, compared to its average volume of 837,241. Garmin Ltd. has a 52 week low of $99.61 and a 52 week high of $184.42. The stock has a market cap of $31.41 billion, a PE ratio of 23.32, a P/E/G ratio of 3.04 and a beta of 0.99. The company’s fifty day moving average price is $174.05 and its two-hundred day moving average price is $164.80.

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on GRMN shares. StockNews.com lowered Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Morgan Stanley cut shares of Garmin from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $155.00 to $138.00 in a research note on Monday. Barclays cut shares of Garmin from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $181.00 to $133.00 in a research report on Friday, September 13th. Finally, Tigress Financial upped 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. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $158.50.

Insider Activity at Garmin

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

Garmin Company 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.