Investment Management Corp VA ADV Makes New Investment in Garmin Ltd. (NYSE:GRMN)

Investment Management Corp VA ADV acquired a new position in Garmin Ltd. (NYSE:GRMN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 223 shares of the scientific and technical instruments company’s stock, valued at approximately $46,000.

Several other institutional investors have also recently modified their holdings of GRMN. Montrusco Bolton Investments Inc. boosted its stake in Garmin by 42.5% in the fourth quarter. Montrusco Bolton Investments Inc. now owns 431,188 shares of the scientific and technical instruments company’s stock worth $88,937,000 after buying an additional 128,672 shares in the last quarter. Baskin Financial Services Inc. lifted its holdings in shares of Garmin by 3.2% in the 4th quarter. Baskin Financial Services Inc. now owns 148,957 shares of the scientific and technical instruments company’s stock worth $30,724,000 after acquiring an additional 4,616 shares during the last quarter. Savant Capital LLC lifted its holdings in shares of Garmin by 47.2% in the 4th quarter. Savant Capital LLC now owns 9,075 shares of the scientific and technical instruments company’s stock worth $1,872,000 after acquiring an additional 2,910 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Garmin in the 4th quarter valued at $127,000. Finally, BankPlus Wealth Management LLC bought a new position in shares of Garmin during the 4th quarter valued at $668,000. 81.60% of the stock is currently owned by institutional investors.

Insider Activity at Garmin

In other Garmin news, VP Susan Lyman sold 2,829 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $215.51, for a total value of $609,677.79. Following the completion of the transaction, the vice president now directly owns 8,432 shares in the company, valued at approximately $1,817,180.32. This represents a 25.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Clifton A. Pemble sold 7,202 shares of Garmin stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $227.14, for a total transaction of $1,635,862.28. Following the sale, the chief executive officer now directly owns 149,525 shares in the company, valued at $33,963,108.50. The trade was a 4.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,342 shares of company stock worth $5,486,094 in the last 90 days. Company insiders own 15.38% of the company’s stock.

Wall Street Analysts Forecast Growth

GRMN has been the topic of a number of analyst reports. Barclays decreased their target price on shares of Garmin from $188.00 to $152.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 30th. Morgan Stanley raised their price objective on Garmin from $159.00 to $172.00 and gave the company an “underweight” rating in a research note on Thursday, May 1st. Tigress Financial boosted their target price on Garmin from $265.00 to $285.00 and gave the company a “strong-buy” rating in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. dropped their target price on Garmin from $220.00 to $215.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Garmin presently has a consensus rating of “Hold” and a consensus target price of $206.00.

Garmin Stock Up 0.3%

NYSE:GRMN opened at $201.38 on Friday. The firm has a market capitalization of $38.77 billion, a P/E ratio of 27.55, a P/E/G ratio of 1.36 and a beta of 0.99. The company has a fifty day moving average of $197.60 and a 200 day moving average of $208.56. Garmin Ltd. has a 52 week low of $158.38 and a 52 week high of $246.50.

Garmin (NYSE:GRMN) last released its quarterly earnings data on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.01). The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Garmin had a net margin of 22.42% and a return on equity of 19.31%. Garmin’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.42 EPS. As a group, analysts anticipate that Garmin Ltd. will post 7.8 EPS 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.