D.A. Davidson & CO. Buys 916 Shares of Garmin Ltd. (NYSE:GRMN)

D.A. Davidson & CO. increased its stake in shares of Garmin Ltd. (NYSE:GRMN) by 3.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,275 shares of the scientific and technical instruments company’s stock after purchasing an additional 916 shares during the quarter. D.A. Davidson & CO.’s holdings in Garmin were worth $5,153,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Garmin during the second quarter worth about $31,000. Larson Financial Group LLC boosted its position in Garmin by 578.6% during the 3rd quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock worth $33,000 after buying an additional 162 shares during the period. Family Firm Inc. bought a new stake in Garmin during the 2nd quarter worth approximately $35,000. Benjamin Edwards Inc. increased its position in Garmin by 73.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock valued at $38,000 after acquiring an additional 99 shares during the period. Finally, Headlands Technologies LLC bought a new position in shares of Garmin during the second quarter valued at $46,000. Institutional investors own 73.41% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on GRMN. Morgan Stanley lowered Garmin from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $155.00 to $138.00 in a research report on Monday, October 7th. StockNews.com downgraded Garmin from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Barclays upped 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. Finally, Tigress Financial boosted their price target on shares of Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research 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 given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $162.67.

Insider Buying and Selling

In related news, Director Sean Biddlecombe sold 587 shares of the business’s stock in a transaction dated 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. The trade was a 8.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Philip Straub sold 2,750 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $181.46, for a total value of $499,015.00. Following the sale, the director now owns 88,622 shares in the company, valued at $16,081,348.12. The trade was a 3.01 % decrease in their position. The disclosure for this sale can be found here. 19.54% of the stock is currently owned by insiders.

Garmin Price Performance

NYSE:GRMN opened at $212.09 on Thursday. Garmin Ltd. has a 1 year low of $119.15 and a 1 year high of $216.44. The business has a fifty day simple moving average of $185.28 and a two-hundred day simple moving average of $174.89. The company has a market capitalization of $40.73 billion, a P/E ratio of 26.91, a P/E/G ratio of 1.42 and a beta of 0.97.

Garmin (NYSE:GRMN) last released its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 EPS for the quarter, topping 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 company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period last year, the firm earned $1.41 EPS. Garmin’s revenue for the quarter was up 24.1% on a year-over-year basis. As a group, analysts anticipate that Garmin Ltd. will post 7.01 earnings per share for the current year.

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.