Argent Capital Management LLC Has $31.87 Million Holdings in Garmin Ltd. (NYSE:GRMN)

Argent Capital Management LLC trimmed its holdings in Garmin Ltd. (NYSE:GRMN) by 2.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 181,038 shares of the scientific and technical instruments company’s stock after selling 3,801 shares during the period. Argent Capital Management LLC owned 0.09% of Garmin worth $31,868,000 at the end of the most recent quarter.

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

Insider Activity at Garmin

In other Garmin news, Director Philip Straub sold 2,750 shares of the company’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 completion of the sale, the director now directly owns 88,622 shares in the company, valued at $16,081,348.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Garmin news, Director Philip Straub sold 2,750 shares of the business’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 transaction, the director now owns 88,622 shares of the company’s stock, valued at approximately $16,081,348.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cheng-Wei Wang sold 10,055 shares of the company’s stock in a transaction that occurred 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,892 shares of company stock valued at $2,296,174 over the last three months. 19.54% of the stock is owned by insiders.

Garmin Stock Up 0.1 %

Shares of GRMN traded up $0.24 during trading hours on Thursday, hitting $161.82. 203,267 shares of the company were exchanged, compared to its average volume of 827,942. Garmin Ltd. has a fifty-two week low of $99.61 and a fifty-two week high of $184.42. The company has a market cap of $31.08 billion, a price-to-earnings ratio of 22.90, a P/E/G ratio of 2.85 and a beta of 0.99. The firm’s fifty day moving average is $173.68 and its 200 day moving average is $166.11.

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

Wall Street Analyst Weigh In

GRMN has been the topic of several research analyst reports. Morgan Stanley cut shares of Garmin from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $155.00 to $138.00 in a report on Monday, October 7th. StockNews.com cut Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Tigress Financial increased their price objective 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, Barclays cut shares of Garmin from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $181.00 to $133.00 in a research report on Friday, September 13th. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Garmin currently has an average rating of “Hold” and an average target price of $158.50.

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.