Bleakley Financial Group LLC Has $810,000 Stock Position in Garmin Ltd. (NYSE:GRMN)

Bleakley Financial Group LLC lessened its stake in shares of Garmin Ltd. (NYSE:GRMN) by 2.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,600 shares of the scientific and technical instruments company’s stock after selling 107 shares during the period. Bleakley Financial Group LLC’s holdings in Garmin were worth $810,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of GRMN. American International Group Inc. boosted its position in shares of Garmin by 1.5% in the fourth quarter. American International Group Inc. now owns 41,132 shares of the scientific and technical instruments company’s stock worth $5,287,000 after buying an additional 600 shares during the period. Nomura Holdings Inc. purchased a new position in Garmin during the 4th quarter valued at about $398,000. Banque Cantonale Vaudoise increased its holdings in shares of Garmin by 217.4% in the 1st quarter. Banque Cantonale Vaudoise now owns 1,825 shares of the scientific and technical instruments company’s stock valued at $272,000 after purchasing an additional 1,250 shares during the period. Park Avenue Securities LLC lifted its position in shares of Garmin by 12.1% in the first quarter. Park Avenue Securities LLC now owns 2,962 shares of the scientific and technical instruments company’s stock worth $441,000 after purchasing an additional 319 shares in the last quarter. Finally, Gulf International Bank UK Ltd boosted its holdings in shares of Garmin by 0.8% during the first quarter. Gulf International Bank UK Ltd now owns 13,268 shares of the scientific and technical instruments company’s stock worth $1,975,000 after purchasing an additional 108 shares during the period. 73.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GRMN shares. Morgan Stanley downgraded shares of Garmin from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $155.00 to $138.00 in a research report on Monday, October 7th. StockNews.com cut Garmin from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Barclays lowered Garmin from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $181.00 to $133.00 in a research report on Friday, September 13th. Finally, Tigress Financial lifted their price target on Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a report on Thursday, September 19th. Three research 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 stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $158.50.

Garmin Price Performance

Shares of NYSE:GRMN opened at $167.58 on Monday. The stock has a market capitalization of $32.19 billion, a P/E ratio of 23.64, a P/E/G ratio of 2.85 and a beta of 0.99. The business has a 50-day moving average of $174.03 and a two-hundred day moving average of $165.88. Garmin Ltd. has a fifty-two week low of $99.61 and a fifty-two week high of $184.42.

Garmin (NYSE:GRMN) last posted its 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 return on equity of 17.09% and a net margin of 24.36%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period in the previous year, the company earned $1.45 EPS. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, research analysts expect that Garmin Ltd. will post 6.08 EPS for the current fiscal year.

Insider Buying and Selling

In other Garmin 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 transaction of $1,781,343.80. Following the completion of the transaction, the insider now owns 40,965 shares of the company’s stock, valued at $7,257,359.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Philip Straub sold 2,750 shares of the firm’s stock in a transaction 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 sale, the director now owns 88,622 shares in the company, valued at approximately $16,081,348.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 shares were 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 of the company’s stock, valued at approximately $7,257,359.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 12,892 shares of company stock valued at $2,296,174. Company insiders own 19.54% of the company’s stock.

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.