Lifeworks Advisors LLC Raises Position in Garmin Ltd. (NYSE:GRMN)

Lifeworks Advisors LLC boosted its position in shares of Garmin Ltd. (NYSE:GRMN) by 8.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 20,111 shares of the scientific and technical instruments company’s stock after buying an additional 1,538 shares during the quarter. Lifeworks Advisors LLC’s holdings in Garmin were worth $3,540,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of GRMN. Metis Global Partners LLC grew its stake in shares of Garmin by 6.8% during the third quarter. Metis Global Partners LLC now owns 9,554 shares of the scientific and technical instruments company’s stock valued at $1,682,000 after buying an additional 606 shares during the last quarter. KBC Group NV boosted its holdings in Garmin by 560.8% during the 3rd quarter. KBC Group NV now owns 203,713 shares of the scientific and technical instruments company’s stock valued at $35,860,000 after acquiring an additional 172,883 shares during the period. Haverford Trust Co purchased a new position in Garmin during the 3rd quarter valued at $229,000. Apollon Wealth Management LLC grew its position in Garmin by 4.2% in the 3rd quarter. Apollon Wealth Management LLC now owns 13,673 shares of the scientific and technical instruments company’s stock valued at $2,407,000 after acquiring an additional 553 shares during the last quarter. Finally, Versor Investments LP increased its stake in Garmin by 1.8% in the third quarter. Versor Investments LP now owns 16,405 shares of the scientific and technical instruments company’s stock worth $2,888,000 after purchasing an additional 293 shares during the period. Institutional investors own 73.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on GRMN shares. Morgan Stanley lowered shares of Garmin from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $155.00 to $138.00 in a research note on Monday, October 7th. Tigress Financial boosted their price objective on shares of Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 19th. Barclays raised their target price on shares of Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research report on Friday, November 1st. Finally, StockNews.com lowered Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Three investment 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. Based on data from MarketBeat.com, Garmin has an average rating of “Hold” and an average price target of $162.67.

Insider Activity at Garmin

In other Garmin news, Director Sean Biddlecombe sold 587 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $210.10, for a total value of $123,328.70. Following the completion of the transaction, the director now directly owns 6,147 shares in the company, valued at approximately $1,291,484.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Cheng-Wei Wang sold 10,055 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were 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 in the company, valued at $7,257,359.40. This represents 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 this hyperlink. Also, Director Sean Biddlecombe sold 587 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were 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 $1,291,484.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,479 shares of company stock valued at $2,419,502 over the last quarter. 19.54% of the stock is owned by corporate insiders.

Garmin Price Performance

NYSE GRMN traded up $2.12 during trading on Thursday, reaching $215.10. 79,288 shares of the company’s stock traded hands, compared to its average volume of 856,569. The company’s 50 day simple moving average is $178.79 and its two-hundred day simple moving average is $171.60. Garmin Ltd. has a 12-month low of $118.51 and a 12-month high of $215.55. The firm has a market cap of $41.30 billion, a price-to-earnings ratio of 27.23, a price-to-earnings-growth ratio of 3.25 and a beta of 0.97.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.53. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. Garmin’s revenue was up 24.1% compared to the same quarter last year. During the same period last year, the company posted $1.41 earnings per share. Research analysts expect that Garmin Ltd. will post 6.88 earnings per share for the current fiscal year.

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.