Kwmg LLC Purchases New Holdings in Garmin Ltd. (NYSE:GRMN)

Kwmg LLC bought a new position in Garmin Ltd. (NYSE:GRMN) during the fourth quarter, HoldingsChannel.com reports. The fund bought 1,285 shares of the scientific and technical instruments company’s stock, valued at approximately $265,000.

Several other institutional investors and hedge funds have also made changes to their positions in GRMN. Private Advisor Group LLC increased its stake in Garmin by 6.1% in the 2nd quarter. Private Advisor Group LLC now owns 4,231 shares of the scientific and technical instruments company’s stock worth $690,000 after buying an additional 244 shares during the period. Choreo LLC bought a new stake in shares of Garmin during the second quarter valued at approximately $415,000. Headlands Technologies LLC purchased a new stake in shares of Garmin in the second quarter valued at approximately $46,000. American Century Companies Inc. grew its stake in Garmin by 5.9% in the second quarter. American Century Companies Inc. now owns 47,349 shares of the scientific and technical instruments company’s stock worth $7,714,000 after purchasing an additional 2,651 shares in the last quarter. Finally, Meeder Advisory Services Inc. purchased a new position in Garmin during the 2nd quarter worth $256,000. 81.60% of the stock is currently owned by institutional investors.

Garmin Price Performance

NYSE GRMN traded down $1.03 during trading on Monday, hitting $208.13. The company’s stock had a trading volume of 718,877 shares, compared to its average volume of 652,114. Garmin Ltd. has a fifty-two week low of $119.15 and a fifty-two week high of $222.97. The company has a market cap of $39.97 billion, a PE ratio of 26.41, a P/E/G ratio of 1.42 and a beta of 0.98. The business’s 50 day simple moving average is $210.93 and its 200-day simple moving average is $185.69.

Garmin (NYSE:GRMN) last released its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.53. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. Garmin’s revenue was up 24.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.41 EPS. Analysts expect that Garmin Ltd. will post 7.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GRMN has been the topic of a number of recent research reports. Barclays increased their price target on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research report on Friday, November 1st. Tigress Financial raised their target price on shares of Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a research report on Monday, December 16th. Finally, Morgan Stanley cut shares of Garmin from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $155.00 to $138.00 in a research report on Monday, October 7th. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $171.00.

Insider Buying and Selling

In other Garmin news, Director Sean Biddlecombe sold 587 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $210.10, for a total value of $123,328.70. Following the completion of the sale, the director now directly owns 6,147 shares in the company, valued at $1,291,484.70. This represents a 8.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Douglas G. Boessen sold 1,761 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $207.99, for a total transaction of $366,270.39. Following the transaction, the chief financial officer now directly owns 27,612 shares in the company, valued at approximately $5,743,019.88. The trade was a 6.00 % decrease in their position. The disclosure for this sale can be found here. 19.54% of the stock is currently owned by company insiders.

Garmin 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.