Finley Financial LLC Invests $203,000 in Garmin Ltd. (NYSE:GRMN)

Finley Financial LLC acquired a new position in shares of Garmin Ltd. (NYSE:GRMN) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 949 shares of the scientific and technical instruments company’s stock, valued at approximately $203,000.

Several other large investors have also modified their holdings of the stock. Advisory Alpha LLC purchased a new position in shares of Garmin during the 4th quarter worth about $303,000. Barlow Wealth Partners Inc. raised its holdings in Garmin by 3.3% in the fourth quarter. Barlow Wealth Partners Inc. now owns 71,602 shares of the scientific and technical instruments company’s stock valued at $15,284,000 after buying an additional 2,255 shares during the period. Nisa Investment Advisors LLC raised its holdings in Garmin by 30.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 41,791 shares of the scientific and technical instruments company’s stock valued at $8,620,000 after buying an additional 9,674 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in Garmin by 8.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 804 shares of the scientific and technical instruments company’s stock valued at $166,000 after buying an additional 63 shares during the period. Finally, UMB Bank n.a. raised its holdings in Garmin by 5.8% in the fourth quarter. UMB Bank n.a. now owns 3,598 shares of the scientific and technical instruments company’s stock valued at $742,000 after buying an additional 196 shares during the period. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Garmin Trading Up 1.0 %

GRMN stock opened at $217.83 on Wednesday. Garmin Ltd. has a twelve month low of $119.15 and a twelve month high of $222.97. The company has a market capitalization of $41.83 billion, a P/E ratio of 27.64, a PEG ratio of 1.30 and a beta of 0.98. The firm has a 50 day simple moving average of $211.50 and a 200-day simple moving average of $187.87.

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 for the quarter, topping analysts’ consensus estimates of $1.46 by $0.53. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the company earned $1.41 earnings per share. The business’s quarterly revenue was up 24.1% compared to the same quarter last year. On average, research analysts predict that Garmin Ltd. will post 7.01 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Transactions at Garmin

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

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.