Ashton Thomas Private Wealth LLC Lowers Stock Position in Garmin Ltd. (NYSE:GRMN)

Ashton Thomas Private Wealth LLC decreased its holdings in Garmin Ltd. (NYSE:GRMN) by 2.5% in the 3rd quarter, Holdings Channel reports. The firm owned 5,679 shares of the scientific and technical instruments company’s stock after selling 148 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Garmin were worth $1,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Clearstead Trust LLC purchased a new stake in shares of Garmin in the first quarter valued at about $30,000. University of Texas Texas AM Investment Management Co. acquired a new position in Garmin in the 2nd quarter valued at about $31,000. Family Firm Inc. acquired a new position in Garmin in the 2nd quarter valued at about $35,000. Benjamin Edwards Inc. lifted 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 acquiring an additional 99 shares during the period. Finally, Headlands Technologies LLC purchased a new position in shares of Garmin in the 2nd quarter valued at approximately $46,000. Institutional investors and hedge funds own 73.41% of the company’s stock.

Garmin Stock Performance

Garmin stock opened at $212.98 on Thursday. Garmin Ltd. has a one year low of $117.30 and a one year high of $214.83. The company has a market cap of $40.90 billion, a P/E ratio of 27.03, a price-to-earnings-growth ratio of 3.25 and a beta of 0.97. The business has a fifty day moving average of $178.14 and a two-hundred day moving average of $171.31.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.46 by $0.53. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter last year, the business earned $1.41 earnings per share. The business’s revenue for the quarter was up 24.1% compared to the same quarter last year. Sell-side analysts predict that Garmin Ltd. will post 6.88 EPS for the current year.

Insider Transactions at Garmin

In related news, insider Cheng-Wei Wang sold 10,055 shares of the firm’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 completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Garmin news, insider Cheng-Wei Wang sold 10,055 shares of the company’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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Philip Straub sold 2,750 shares of the firm’s stock in a transaction 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 transaction, the director now owns 88,622 shares of the company’s stock, valued at approximately $16,081,348.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,479 shares of company stock valued at $2,419,502 in the last quarter. 19.54% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Barclays upped their price target on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research note on Friday, November 1st. Morgan Stanley downgraded shares of Garmin from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $155.00 to $138.00 in a research report on Monday, October 7th. StockNews.com downgraded shares of Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Finally, Tigress Financial increased their price target 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. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Garmin currently has an average rating of “Hold” and an average price target of $162.67.

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.