Ashton Thomas Private Wealth LLC Decreases Stock Holdings in Garmin Ltd. (NYSE:GRMN)

Ashton Thomas Private Wealth LLC lowered its stake in Garmin Ltd. (NYSE:GRMN) by 2.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 5,679 shares of the scientific and technical instruments company’s stock after selling 148 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Garmin were worth $1,000,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Select Equity Group L.P. increased its stake in Garmin by 0.6% during the 2nd quarter. Select Equity Group L.P. now owns 2,006,563 shares of the scientific and technical instruments company’s stock worth $326,909,000 after buying an additional 11,666 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Garmin by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,735,623 shares of the scientific and technical instruments company’s stock worth $282,761,000 after purchasing an additional 13,968 shares in the last quarter. Boston Partners raised its stake in Garmin by 4.3% in the 1st quarter. Boston Partners now owns 1,416,130 shares of the scientific and technical instruments company’s stock valued at $210,799,000 after purchasing an additional 58,343 shares during the last quarter. Marshall Wace LLP lifted its holdings in Garmin by 34.0% in the 2nd quarter. Marshall Wace LLP now owns 1,098,443 shares of the scientific and technical instruments company’s stock valued at $178,958,000 after purchasing an additional 278,990 shares in the last quarter. Finally, Captrust Financial Advisors boosted its stake in Garmin by 20.2% during the 1st quarter. Captrust Financial Advisors now owns 839,537 shares of the scientific and technical instruments company’s stock worth $124,982,000 after purchasing an additional 141,001 shares during the last quarter. Hedge funds and other institutional investors own 73.41% of the company’s stock.

Insider Activity at Garmin

In other news, Director Sean Biddlecombe sold 587 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $210.10, for a total value of $123,328.70. Following the transaction, the director now owns 6,147 shares in the company, valued at approximately $1,291,484.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Cheng-Wei Wang sold 10,055 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total value of $1,781,343.80. Following the completion of the sale, the insider now directly owns 40,965 shares of the company’s stock, valued at $7,257,359.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $123,328.70. Following the completion of the transaction, the director now owns 6,147 shares of the company’s stock, valued at $1,291,484.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,479 shares of company stock valued at $2,419,502 over the last quarter. 19.54% of the stock is owned by insiders.

Garmin Stock Performance

Shares of GRMN opened at $212.98 on Thursday. The company’s 50-day simple moving average is $178.14 and its 200-day simple moving average is $171.31. Garmin Ltd. has a 1 year low of $117.30 and a 1 year high of $214.83. The stock has a market capitalization of $40.90 billion, a PE ratio of 27.03, a P/E/G ratio of 3.25 and a beta of 0.97.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.53. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same period last year, the firm earned $1.41 earnings per share. The company’s revenue for the quarter was up 24.1% compared to the same quarter last year. On average, sell-side analysts predict that Garmin Ltd. will post 6.88 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GRMN. Barclays increased their target price on shares of Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research report on Friday, November 1st. Morgan Stanley lowered shares of Garmin from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $155.00 to $138.00 in a research note on Monday, October 7th. Tigress Financial upped their price target on Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 19th. Finally, StockNews.com downgraded Garmin from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Garmin currently has an average rating of “Hold” and an average target price of $162.67.

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.