Bank of Jackson Hole Trust Acquires New Holdings in Garmin Ltd. (NYSE:GRMN)

Bank of Jackson Hole Trust acquired a new stake in Garmin Ltd. (NYSE:GRMN) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 599 shares of the scientific and technical instruments company’s stock, valued at approximately $124,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Golden State Wealth Management LLC acquired a new position in Garmin during the 4th quarter worth approximately $26,000. Pinnacle Bancorp Inc. acquired a new position in Garmin during the 4th quarter worth approximately $29,000. SOA Wealth Advisors LLC. acquired a new position in Garmin during the 4th quarter worth approximately $37,000. 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 acquiring an additional 162 shares during the last quarter. Finally, Kentucky Trust Co acquired a new position in Garmin during the 4th quarter worth approximately $41,000. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Garmin Trading Up 13.2 %

GRMN opened at $243.13 on Thursday. Garmin Ltd. has a 1-year low of $121.20 and a 1-year high of $246.50. The stock’s fifty day simple moving average is $212.99 and its 200 day simple moving average is $194.84. The stock has a market cap of $46.69 billion, a PE ratio of 30.85, a price-to-earnings-growth ratio of 1.27 and a beta of 0.98.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.51. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter in the prior year, the business earned $1.72 EPS. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. Equities analysts forecast that Garmin Ltd. will post 7.09 earnings per share for the current year.

Insider Activity at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 1,761 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $207.99, for a total value of $366,270.39. Following the transaction, the chief financial officer now directly owns 27,612 shares of the company’s stock, valued at $5,743,019.88. This represents a 6.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 19.54% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on GRMN shares. Barclays upped 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. JPMorgan Chase & Co. upgraded Garmin to a “neutral” rating and upped their price objective for the stock from $212.00 to $219.00 in a research note on Friday, February 14th. Morgan Stanley upgraded Garmin to a “sell” rating and upped their price objective for the stock from $164.00 to $171.00 in a research note on Tuesday, February 11th. Finally, Tigress Financial upped their price objective on Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research note on Monday, December 16th. Three investment 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $183.83.

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.