CWA Asset Management Group LLC Raises Stock Holdings in Garmin Ltd. (NYSE:GRMN)

CWA Asset Management Group LLC increased its position in Garmin Ltd. (NYSE:GRMNFree Report) by 0.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,981 shares of the scientific and technical instruments company’s stock after acquiring an additional 503 shares during the period. CWA Asset Management Group LLC’s holdings in Garmin were worth $7,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. acquired a new stake in Garmin during the 4th quarter worth about $26,000. Frazier Financial Advisors LLC purchased a new position in Garmin in the 4th quarter worth approximately $33,000. Headinvest LLC purchased a new stake in shares of Garmin during the 3rd quarter valued at approximately $41,000. Blue Trust Inc. raised its position in shares of Garmin by 35.2% during the 4th quarter. Blue Trust Inc. now owns 380 shares of the scientific and technical instruments company’s stock valued at $49,000 after buying an additional 99 shares during the period. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Garmin during the 4th quarter valued at approximately $51,000. Hedge funds and other institutional investors own 73.41% of the company’s stock.

Garmin Price Performance

Shares of GRMN stock remained flat at $163.20 on Tuesday. 167,542 shares of the company were exchanged, compared to its average volume of 904,701. The company’s fifty day moving average price is $155.27 and its 200 day moving average price is $137.99. Garmin Ltd. has a 12-month low of $99.61 and a 12-month high of $171.64. The stock has a market cap of $31.35 billion, a P/E ratio of 23.05, a price-to-earnings-growth ratio of 3.53 and a beta of 0.98.

Garmin (NYSE:GRMNGet Free Report) last issued its earnings results on Wednesday, May 1st. The scientific and technical instruments company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.42. Garmin had a net margin of 24.96% and a return on equity of 17.26%. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the business posted $1.02 earnings per share. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Garmin Ltd. will post 5.77 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Bank of America lowered shares of Garmin from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $165.00 to $150.00 in a research report on Wednesday, May 22nd. JPMorgan Chase & Co. lifted their price target on shares of Garmin from $155.00 to $175.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. StockNews.com lowered shares of Garmin from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Tigress Financial lifted their target price on shares of Garmin from $175.00 to $210.00 and gave the company a “strong-buy” rating in a report on Tuesday, May 14th. Finally, Barclays lifted their target price on shares of Garmin from $140.00 to $166.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Garmin presently has an average rating of “Hold” and an average price target of $156.83.

Check Out Our Latest Report on GRMN

Insider Activity

In other news, Director Jonathan Burrell sold 15,000 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $141.55, for a total value of $2,123,250.00. Following the sale, the director now directly owns 698,834 shares in the company, valued at $98,919,952.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 75,000 shares of company stock worth $10,790,850 over the last ninety days. 19.54% of the stock is currently owned by insiders.

About Garmin

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Garmin (NYSE:GRMN)

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