Garmin Ltd. (NYSE:GRMN) Stock Holdings Increased by BNC Wealth Management LLC

BNC Wealth Management LLC grew its position in shares of Garmin Ltd. (NYSE:GRMN) by 3.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 21,642 shares of the scientific and technical instruments company’s stock after buying an additional 808 shares during the quarter. Garmin comprises about 1.4% of BNC Wealth Management LLC’s investment portfolio, making the stock its 26th largest position. BNC Wealth Management LLC’s holdings in Garmin were worth $3,810,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. bought a new position in Garmin during the second quarter worth $31,000. Clearstead Trust LLC bought a new position in shares of Garmin in the 1st quarter worth about $30,000. Family Firm Inc. bought a new position in shares of Garmin in the 2nd quarter worth about $35,000. Benjamin Edwards Inc. boosted its holdings in shares of Garmin by 73.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock valued at $38,000 after buying an additional 99 shares during the period. Finally, Headlands Technologies LLC bought a new stake in shares of Garmin during the 2nd quarter valued at about $46,000. Institutional investors and hedge funds own 73.41% of the company’s stock.

Garmin Stock Performance

Shares of GRMN opened at $209.67 on Thursday. Garmin Ltd. has a one year low of $114.49 and a one year high of $210.33. The stock’s fifty day moving average is $175.69 and its 200-day moving average is $169.15. The firm has a market capitalization of $40.26 billion, a price-to-earnings ratio of 26.61, a price-to-earnings-growth ratio of 3.22 and a beta of 0.97.

Garmin (NYSE:GRMN) last released its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.46 by $0.53. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. Garmin’s quarterly revenue was up 24.1% on a year-over-year basis. During the same quarter last year, the company earned $1.41 EPS. Analysts forecast that Garmin Ltd. will post 6.52 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Cheng-Wei Wang sold 10,055 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the completion of the transaction, the insider now owns 40,965 shares of the company’s stock, valued at $7,257,359.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Philip Straub sold 2,750 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $181.46, for a total transaction of $499,015.00. Following the sale, the director now directly owns 88,622 shares of the company’s stock, valued at $16,081,348.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Cheng-Wei Wang sold 10,055 shares of the 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 transaction, the insider now owns 40,965 shares of the company’s stock, valued at $7,257,359.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,892 shares of company stock valued at $2,296,174 over the last quarter. Corporate insiders own 19.54% of the company’s stock.

Wall Street Analyst Weigh In

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