1,301 Shares in Garmin Ltd. (NYSE:GRMN) Acquired by Haverford Trust Co

Haverford Trust Co bought a new stake in shares of Garmin Ltd. (NYSE:GRMN) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,301 shares of the scientific and technical instruments company’s stock, valued at approximately $229,000.

Several other hedge funds have also made changes to their positions in the company. University of Texas Texas AM Investment Management Co. acquired a new position in Garmin during the 2nd quarter valued at approximately $31,000. Clearstead Trust LLC acquired a new position in shares of Garmin in the 1st quarter valued at $30,000. Family Firm Inc. acquired a new stake in Garmin during the 2nd quarter worth about $35,000. Benjamin Edwards Inc. grew its stake 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 valued at $38,000 after purchasing an additional 99 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of Garmin in the second quarter valued at about $46,000. 73.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Garmin

In other news, Director Sean Biddlecombe sold 587 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $210.10, for a total transaction of $123,328.70. Following the completion of the transaction, the director now directly owns 6,147 shares in the company, valued at $1,291,484.70. This trade represents a 8.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Philip Straub sold 2,750 shares of Garmin 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 sale, the director now directly owns 88,622 shares of the company’s stock, valued at $16,081,348.12. The trade was a 3.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,479 shares of company stock valued at $2,419,502 over the last 90 days. 19.54% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on GRMN shares. Morgan Stanley lowered Garmin from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $155.00 to $138.00 in a research report on Monday, October 7th. Tigress Financial increased their target price on shares of Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 19th. StockNews.com lowered shares of Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Finally, Barclays increased their target price on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a report on Friday, November 1st. Three 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 MarketBeat, Garmin currently has an average rating of “Hold” and a consensus target price of $162.67.

Garmin Stock Performance

NYSE:GRMN opened at $211.32 on Friday. The stock has a 50 day moving average price of $178.79 and a 200 day moving average price of $171.60. The stock has a market cap of $40.58 billion, a PE ratio of 26.82, a P/E/G ratio of 3.25 and a beta of 0.97. Garmin Ltd. has a one year low of $118.51 and a one year high of $215.55.

Garmin (NYSE:GRMN) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the previous year, the company earned $1.41 EPS. The business’s revenue for the quarter was up 24.1% compared to the same quarter last year. As a group, analysts predict that Garmin Ltd. will post 6.88 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.