Barlow Wealth Partners Inc. Purchases 2,255 Shares of Garmin Ltd. (NYSE:GRMN)

Barlow Wealth Partners Inc. lifted its position in Garmin Ltd. (NYSE:GRMN) by 3.3% during the 4th quarter, HoldingsChannel reports. The firm owned 71,602 shares of the scientific and technical instruments company’s stock after buying an additional 2,255 shares during the period. Garmin comprises about 2.0% of Barlow Wealth Partners Inc.’s investment portfolio, making the stock its 25th biggest position. Barlow Wealth Partners Inc.’s holdings in Garmin were worth $15,284,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Pinnacle Bancorp Inc. bought a new stake in Garmin during the fourth quarter valued at approximately $29,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Garmin during the 2nd quarter worth $31,000. Larson Financial Group LLC grew its position in Garmin by 578.6% in the third quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock worth $33,000 after acquiring an additional 162 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in Garmin in the third quarter worth $39,000. Finally, Capital Performance Advisors LLP bought a new position in Garmin in the third quarter valued at $59,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Insider Activity

In other Garmin news, Director Sean Biddlecombe sold 587 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $210.10, for a total value of $123,328.70. Following the completion of the transaction, the director now directly owns 6,147 shares in the company, valued at approximately $1,291,484.70. This represents a 8.72 % 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, CFO Douglas G. Boessen sold 1,761 shares of Garmin 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 sale, the chief financial officer now directly owns 27,612 shares in the company, valued at $5,743,019.88. The trade was a 6.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 19.54% of the company’s stock.

Garmin Price Performance

GRMN opened at $217.83 on Wednesday. The stock’s 50 day simple moving average is $211.50 and its 200 day simple moving average is $187.87. The firm has a market cap of $41.83 billion, a price-to-earnings ratio of 27.64, a PEG ratio of 1.30 and a beta of 0.98. Garmin Ltd. has a 1 year low of $119.15 and a 1 year high of $222.97.

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

Analyst Ratings Changes

Several brokerages have issued reports on GRMN. Tigress Financial upped their price objective on Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a report on Monday, December 16th. Barclays boosted their target price on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research report on Friday, November 1st. Finally, Morgan Stanley cut shares of Garmin from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $155.00 to $138.00 in a research report on Monday, October 7th. Three research 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 data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $171.00.

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.