Barlow Wealth Partners Inc. Has $11.31 Million Stake in Garmin Ltd. (NYSE:GRMN)

Barlow Wealth Partners Inc. raised its holdings in Garmin Ltd. (NYSE:GRMN) by 1.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 69,347 shares of the scientific and technical instruments company’s stock after buying an additional 697 shares during the period. Barlow Wealth Partners Inc.’s holdings in Garmin were worth $11,313,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of GRMN. Clearstead Trust LLC bought a new stake in shares of Garmin during the 1st quarter worth about $30,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Garmin in the 2nd quarter valued at approximately $31,000. Family Firm Inc. acquired a new position in Garmin during the 2nd quarter worth approximately $35,000. Benjamin Edwards Inc. increased its position in 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 in the last quarter. Finally, Headlands Technologies LLC acquired a new position in Garmin in the 2nd quarter valued at approximately $46,000. Institutional investors own 73.41% of the company’s stock.

Garmin Trading Up 0.3 %

Shares of GRMN stock traded up $0.50 during trading hours on Wednesday, hitting $165.13. 17,057 shares of the company’s stock were exchanged, compared to its average volume of 837,703. Garmin Ltd. has a 12-month low of $99.61 and a 12-month high of $184.42. The business’s 50 day simple moving average is $174.35 and its 200-day simple moving average is $164.68. The company has a market capitalization of $31.72 billion, a PE ratio of 23.22, a PEG ratio of 3.04 and a beta of 0.99.

Garmin (NYSE:GRMN) last released its quarterly earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the business posted $1.45 earnings per share. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. Equities analysts anticipate that Garmin Ltd. will post 6.05 EPS for the current year.

Analyst Upgrades and Downgrades

GRMN has been the topic of a number of analyst reports. Morgan Stanley lowered shares of Garmin from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $155.00 to $138.00 in a research note on Monday. StockNews.com downgraded shares of Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Tigress Financial raised their price objective on shares of Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 19th. Finally, Barclays lowered shares of Garmin from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $181.00 to $133.00 in a research report on Friday, September 13th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $158.50.

Insider Buying and Selling

In other Garmin news, insider Cheng-Wei Wang sold 10,055 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $7,257,359.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Garmin news, insider Cheng-Wei Wang sold 10,055 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $7,257,359.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Philip Straub sold 2,750 shares of Garmin 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 transaction, the director now directly owns 88,622 shares of the company’s stock, valued at $16,081,348.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,892 shares of company stock worth $2,296,174 in the last quarter. Corporate 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.