Garmin Ltd. $GRMN Shares Bought by Kwmg LLC

Kwmg LLC grew its position in Garmin Ltd. (NYSE:GRMN) by 159.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,125 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,922 shares during the period. Kwmg LLC’s holdings in Garmin were worth $896,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Groupe la Francaise grew its stake in Garmin by 346.4% during the 1st quarter. Groupe la Francaise now owns 125 shares of the scientific and technical instruments company’s stock worth $29,000 after buying an additional 97 shares during the last quarter. Reflection Asset Management acquired a new stake in Garmin in the fourth quarter worth about $32,000. Archer Investment Corp acquired a new stake in Garmin in the first quarter worth about $37,000. SHP Wealth Management purchased a new stake in shares of Garmin during the fourth quarter worth about $44,000. Finally, Cassaday & Co Wealth Management LLC acquired a new position in shares of Garmin during the first quarter valued at about $44,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research report on Friday, September 4th. Wall Street Zen lowered shares of Garmin from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. KeyCorp reaffirmed a “sector weight” rating on shares of Garmin in a report on Wednesday, September 2nd. Morgan Stanley lifted their price objective on shares of Garmin from $249.00 to $289.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Finally, Zacks Research raised shares of Garmin from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $310.17.

Insider Buying and Selling at Garmin

In other Garmin news, Director Sean Biddlecombe sold 986 shares of the company’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $292.88, for a total value of $288,779.68. Following the sale, the director directly owned 6,021 shares of the company’s stock, valued at approximately $1,763,430.48. This represents a 14.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Clifton Pemble sold 4,029 shares of the stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $300.00, for a total value of $1,208,700.00. Following the sale, the chief executive officer directly owned 120,127 shares in the company, valued at $36,038,100. This represents a 3.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 16,108 shares of company stock worth $4,808,799. 14.80% of the stock is currently owned by company insiders.

Garmin Stock Performance

NYSE GRMN traded down $2.81 during trading hours on Wednesday, reaching $276.40. The stock had a trading volume of 161,267 shares, compared to its average volume of 895,874. Garmin Ltd. has a 52-week low of $186.67 and a 52-week high of $314.28. The stock has a fifty day moving average of $290.02 and a 200 day moving average of $259.19. The stock has a market cap of $53.30 billion, a P/E ratio of 28.50, a price-to-earnings-growth ratio of 3.19 and a beta of 0.82.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Thursday, July 30th. The scientific and technical instruments company reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.51. Garmin had a net margin of 24.47% and a return on equity of 20.95%. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same period last year, the firm posted $2.17 EPS. Garmin’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, equities research analysts forecast that Garmin Ltd. will post 10.08 EPS for the current year.

About Garmin

Garmin Ltd. is a technology company that develops products using global positioning system (GPS), satellite communications and other location-based technologies. The company serves consumers, businesses and professional users through product lines focused on fitness, outdoor recreation, aviation, marine and automotive applications.

Its offerings include smartwatches and fitness trackers, cycling computers, navigation devices, satellite communicators, outdoor handhelds, marine chartplotters and sonar systems, and aviation navigation and communication equipment.