Hennion & Walsh Asset Management Inc. Purchases 1,134 Shares of Garmin Ltd. (NYSE:GRMN)

Hennion & Walsh Asset Management Inc. increased its holdings in Garmin Ltd. (NYSE:GRMN) by 71.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,718 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,134 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Garmin were worth $561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. FMR LLC grew its position in shares of Garmin by 40.8% in the 3rd quarter. FMR LLC now owns 3,775,154 shares of the scientific and technical instruments company’s stock worth $664,540,000 after buying an additional 1,093,219 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Garmin by 136.7% in the second quarter. AQR Capital Management LLC now owns 711,849 shares of the scientific and technical instruments company’s stock valued at $115,177,000 after acquiring an additional 411,084 shares in the last quarter. Montrusco Bolton Investments Inc. bought a new stake in Garmin in the third quarter valued at $53,252,000. Marshall Wace LLP increased its position in Garmin by 34.0% during the 2nd quarter. Marshall Wace LLP now owns 1,098,443 shares of the scientific and technical instruments company’s stock valued at $178,958,000 after purchasing an additional 278,990 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Garmin by 1,580.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 287,283 shares of the scientific and technical instruments company’s stock worth $50,570,000 after purchasing an additional 270,186 shares in the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Insider Buying and Selling

In other Garmin news, CFO Douglas G. Boessen sold 1,761 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $207.99, for a total transaction of $366,270.39. Following the transaction, the chief financial officer now owns 27,612 shares in the company, valued at approximately $5,743,019.88. This represents a 6.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sean Biddlecombe sold 587 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were 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. The trade was a 8.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 19.54% of the stock is owned by company insiders.

Garmin Stock Performance

GRMN stock opened at $215.50 on Tuesday. The firm has a market capitalization of $41.38 billion, a price-to-earnings ratio of 27.35, a PEG ratio of 1.26 and a beta of 0.98. The firm has a 50 day moving average price of $211.45 and a 200-day moving average price of $187.48. Garmin Ltd. has a 52-week low of $119.15 and a 52-week high of $222.97.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.53. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the previous year, the business earned $1.41 earnings per share. The firm’s quarterly revenue was up 24.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Garmin Ltd. will post 7.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on GRMN shares. Tigress Financial boosted their price target on shares of Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a research report on Monday, December 16th. Barclays upped their target price on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Finally, Morgan Stanley lowered Garmin from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $155.00 to $138.00 in a research report on Monday, October 7th. Three equities 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 MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $171.00.

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.