Creative Planning Has $6.12 Million Stock Position in Garmin Ltd. (NYSE:GRMN)

Creative Planning increased its stake in shares of Garmin Ltd. (NYSE:GRMN) by 3.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,736 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,244 shares during the period. Creative Planning’s holdings in Garmin were worth $6,115,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Park Avenue Securities LLC increased its stake in shares of Garmin by 12.1% in the 1st quarter. Park Avenue Securities LLC now owns 2,962 shares of the scientific and technical instruments company’s stock valued at $441,000 after acquiring an additional 319 shares during the last quarter. Ballentine Partners LLC acquired a new stake in Garmin in the first quarter worth $214,000. Gateway Investment Advisers LLC bought a new position in shares of Garmin during the first quarter worth $516,000. Key Client Fiduciary Advisors LLC bought a new stake in shares of Garmin in the 1st quarter valued at $220,000. Finally, 180 Wealth Advisors LLC raised its stake in Garmin by 181.1% during the 1st quarter. 180 Wealth Advisors LLC now owns 6,292 shares of the scientific and technical instruments company’s stock worth $937,000 after buying an additional 4,054 shares during the period. 73.41% of the stock is owned by institutional investors and hedge funds.

Garmin Stock Down 0.9 %

Shares of GRMN opened at $161.57 on Thursday. Garmin Ltd. has a twelve month low of $99.61 and a twelve month high of $184.42. The stock has a market capitalization of $31.03 billion, a P/E ratio of 22.79, a P/E/G ratio of 2.85 and a beta of 0.99. The company has a 50 day moving average of $173.68 and a 200-day moving average of $166.11.

Garmin (NYSE:GRMN) last released its earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter last year, the firm earned $1.45 earnings per share. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Garmin Ltd. will post 6.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Garmin news, Director Philip Straub sold 2,750 shares of the business’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 transaction, the director now owns 88,622 shares of the company’s stock, valued at $16,081,348.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Cheng-Wei Wang sold 10,055 shares of Garmin stock in a transaction dated 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 completion of the transaction, the insider now owns 40,965 shares in the company, valued at approximately $7,257,359.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Philip Straub sold 2,750 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 88,622 shares in the company, valued at $16,081,348.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,892 shares of company stock worth $2,296,174. Corporate insiders own 19.54% of the company’s stock.

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.