International Assets Investment Management LLC Makes New Investment in Garmin Ltd. (NYSE:GRMN)

International Assets Investment Management LLC bought a new position in shares of Garmin Ltd. (NYSE:GRMN) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 76,397 shares of the scientific and technical instruments company’s stock, valued at approximately $13,448,000.

Other large investors also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. bought a new position in Garmin during the 2nd quarter worth approximately $31,000. Clearstead Trust LLC acquired a new stake in shares of Garmin during the 1st quarter worth approximately $30,000. Family Firm Inc. acquired a new stake in shares of Garmin during the 2nd quarter worth approximately $35,000. Benjamin Edwards Inc. raised its position 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 purchasing an additional 99 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in shares of Garmin during the 2nd quarter worth approximately $46,000. Institutional investors own 73.41% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. StockNews.com cut Garmin from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Barclays cut Garmin from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $181.00 to $133.00 in a research report on Friday, September 13th. Morgan Stanley cut Garmin from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $155.00 to $138.00 in a research report on Monday, October 7th. Finally, Tigress Financial raised 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 research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $158.50.

Garmin Price Performance

GRMN opened at $204.86 on Thursday. Garmin Ltd. has a 12 month low of $101.49 and a 12 month high of $207.22. The stock has a market cap of $39.35 billion, a P/E ratio of 28.89, a P/E/G ratio of 2.81 and a beta of 0.99. The stock’s 50 day moving average price is $173.44 and its 200 day moving average price is $167.01.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period last year, the firm earned $1.45 EPS. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. Equities analysts anticipate that Garmin Ltd. will post 6.08 EPS for the current year.

Insider Activity

In other news, insider Cheng-Wei Wang sold 10,055 shares of Garmin stock in a transaction on 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 directly owns 40,965 shares in the company, valued at approximately $7,257,359.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Philip Straub sold 2,750 shares of the firm’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 sale, the director now directly owns 88,622 shares of the company’s stock, valued at $16,081,348.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Cheng-Wei Wang sold 10,055 shares of the firm’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 directly 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. In the last ninety days, insiders have sold 12,892 shares of company stock worth $2,296,174. 19.54% of the stock is owned by company insiders.

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.