Advisors Asset Management Inc. Buys 3,415 Shares of Garmin Ltd. (NYSE:GRMN)

Advisors Asset Management Inc. boosted its stake in shares of Garmin Ltd. (NYSE:GRMN) by 24.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 17,529 shares of the scientific and technical instruments company’s stock after buying an additional 3,415 shares during the quarter. Advisors Asset Management Inc.’s holdings in Garmin were worth $3,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the stock. LBP AM SA raised its position in Garmin by 81.4% in the first quarter. LBP AM SA now owns 7,284 shares of the scientific and technical instruments company’s stock worth $1,084,000 after purchasing an additional 3,268 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Garmin by 51.7% in the 1st quarter. Cetera Investment Advisers now owns 28,395 shares of the scientific and technical instruments company’s stock worth $4,227,000 after buying an additional 9,681 shares in the last quarter. Algert Global LLC acquired a new position in shares of Garmin in the 2nd quarter worth approximately $508,000. Dynamic Advisor Solutions LLC bought a new position in shares of Garmin during the 3rd quarter worth approximately $695,000. Finally, Trajan Wealth LLC boosted its stake in Garmin by 9.1% in the 3rd quarter. Trajan Wealth LLC now owns 82,362 shares of the scientific and technical instruments company’s stock valued at $14,498,000 after buying an additional 6,878 shares in the last quarter. 73.41% of the stock is owned by institutional investors.

Garmin Price Performance

Shares of Garmin stock opened at $210.33 on Friday. The stock’s 50-day moving average is $182.77 and its 200-day moving average is $173.94. The firm has a market cap of $40.39 billion, a price-to-earnings ratio of 26.68, a price-to-earnings-growth ratio of 3.28 and a beta of 0.97. Garmin Ltd. has a one year low of $119.15 and a one year high of $215.55.

Garmin (NYSE:GRMN) last released its quarterly earnings results 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. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.44 billion. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The firm’s quarterly revenue was up 24.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.41 EPS. On average, equities analysts expect that Garmin Ltd. will post 6.68 EPS for the current year.

Insider Buying and Selling at Garmin

In other news, Director Philip Straub sold 2,750 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $181.46, for a total value of $499,015.00. Following the sale, the director now directly owns 88,622 shares in the company, valued at approximately $16,081,348.12. This trade represents a 3.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sean Biddlecombe sold 587 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 6,147 shares in the company, valued at $1,291,484.70. This represents a 8.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,424 shares of company stock valued at $638,159 in the last three months. Corporate insiders own 19.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GRMN shares. Morgan Stanley lowered shares of Garmin from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $155.00 to $138.00 in a report on Monday, October 7th. StockNews.com cut shares of Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Tigress Financial lifted their target price on shares of Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 19th. Finally, Barclays boosted their target price on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Three research 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 stock. According to data from MarketBeat, Garmin presently has a consensus rating of “Hold” and an average target price of $162.67.

About Garmin

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.