Blair William & Co. IL Buys 649 Shares of Garmin Ltd. (NYSE:GRMN)

Blair William & Co. IL grew its stake in shares of Garmin Ltd. (NYSE:GRMN) by 13.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,592 shares of the scientific and technical instruments company’s stock after acquiring an additional 649 shares during the quarter. Blair William & Co. IL’s holdings in Garmin were worth $911,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Clearstead Trust LLC bought a new stake in Garmin in the 1st quarter worth about $30,000. Family Firm Inc. bought a new stake in Garmin in the 2nd quarter worth about $35,000. Headlands Technologies LLC bought a new stake in Garmin in the 2nd quarter worth about $46,000. West Oak Capital LLC bought a new stake in Garmin in the 2nd quarter worth about $53,000. Finally, EdgeRock Capital LLC bought a new stake in Garmin in the 2nd quarter worth about $76,000. 73.41% of the stock is currently owned by institutional investors.

Insider Activity at Garmin

In other Garmin news, Director Philip Straub sold 2,750 shares of the company’s 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 transaction, the director now directly owns 88,622 shares in the company, valued at approximately $16,081,348.12. The transaction was disclosed in a 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 company’s stock in a transaction that occurred 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 sale, the director now directly owns 88,622 shares of the company’s stock, valued at approximately $16,081,348.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Cheng-Wei Wang sold 10,055 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $7,257,359.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,892 shares of company stock worth $2,296,174. 19.54% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GRMN shares. Tigress Financial lifted their price objective on Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 19th. StockNews.com downgraded Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Finally, Barclays downgraded Garmin from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $181.00 to $133.00 in a research note on Friday, September 13th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Garmin currently has an average rating of “Hold” and a consensus target price of $152.17.

Garmin Stock Performance

Shares of NYSE:GRMN opened at $175.81 on Wednesday. The stock has a 50 day moving average of $174.64 and a 200 day moving average of $163.11. The company has a market cap of $33.77 billion, a PE ratio of 24.80, a price-to-earnings-growth ratio of 3.16 and a beta of 1.00. Garmin Ltd. has a 12-month low of $99.61 and a 12-month high of $184.42.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.18. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.42 billion. Garmin had a return on equity of 17.09% and a net margin of 24.36%. The firm’s revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.45 EPS. Equities research analysts predict that Garmin Ltd. will post 6.05 earnings per share for the current fiscal year.

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.