Marshall Financial Group LLC Decreases Stock Holdings in Garmin Ltd. (NYSE:GRMN)

Marshall Financial Group LLC lessened its holdings in Garmin Ltd. (NYSE:GRMN) by 1.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,603 shares of the scientific and technical instruments company’s stock after selling 221 shares during the period. Marshall Financial Group LLC’s holdings in Garmin were worth $2,747,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of GRMN. Teamwork Financial Advisors LLC increased its stake in Garmin by 173.7% during the third quarter. Teamwork Financial Advisors LLC now owns 15,637 shares of the scientific and technical instruments company’s stock worth $2,753,000 after acquiring an additional 9,924 shares during the last quarter. Baskin Financial Services Inc. lifted its stake in shares of Garmin by 6.4% in the 3rd quarter. Baskin Financial Services Inc. now owns 144,341 shares of the scientific and technical instruments company’s stock valued at $25,408,000 after purchasing an additional 8,662 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of Garmin by 0.6% in the 3rd quarter. Vontobel Holding Ltd. now owns 37,340 shares of the scientific and technical instruments company’s stock worth $6,573,000 after purchasing an additional 227 shares during the period. Sumitomo Life Insurance Co. increased its position in shares of Garmin by 0.9% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 6,686 shares of the scientific and technical instruments company’s stock valued at $1,177,000 after purchasing an additional 61 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC increased its position in shares of Garmin by 1.6% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 74,962 shares of the scientific and technical instruments company’s stock valued at $12,392,000 after purchasing an additional 1,172 shares during the last quarter. Hedge funds and other institutional investors own 73.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GRMN. Morgan Stanley downgraded Garmin from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $155.00 to $138.00 in a research report on Monday, October 7th. Tigress Financial lifted their price target on shares of Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 19th. StockNews.com lowered shares of Garmin from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Finally, Barclays lowered Garmin from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $181.00 to $133.00 in a research report on Friday, September 13th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $158.50.

Garmin Price Performance

GRMN stock opened at $166.52 on Friday. The company has a market capitalization of $31.98 billion, a PE ratio of 23.49, a P/E/G ratio of 2.85 and a beta of 0.99. Garmin Ltd. has a 12 month low of $99.61 and a 12 month high of $184.42. The firm’s 50-day moving average is $174.03 and its 200 day moving average is $165.46.

Garmin (NYSE:GRMN) last issued its earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.18. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.42 billion. Garmin had a net margin of 24.36% and a return on equity of 17.09%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period last year, the company posted $1.45 earnings per share. Sell-side analysts forecast that Garmin Ltd. will post 6.08 EPS for the current fiscal year.

Insider Buying and Selling at Garmin

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