Garmin Ltd. $GRMN Stock Holdings Raised by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC increased its holdings in Garmin Ltd. (NYSE:GRMN) by 25.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,061 shares of the scientific and technical instruments company’s stock after acquiring an additional 2,051 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Garmin were worth $2,955,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Elevation Wealth Partners LLC increased its stake in Garmin by 336.4% in the third quarter. Elevation Wealth Partners LLC now owns 96 shares of the scientific and technical instruments company’s stock valued at $28,000 after purchasing an additional 74 shares during the period. Groupe la Francaise grew its holdings in shares of Garmin by 346.4% during the first quarter. Groupe la Francaise now owns 125 shares of the scientific and technical instruments company’s stock worth $29,000 after buying an additional 97 shares during the last quarter. Latitude Advisors LLC acquired a new position in Garmin in the 3rd quarter valued at about $32,000. CoreCap Advisors LLC raised its stake in Garmin by 216.2% during the 3rd quarter. CoreCap Advisors LLC now owns 117 shares of the scientific and technical instruments company’s stock valued at $34,000 after acquiring an additional 80 shares during the last quarter. Finally, Archer Investment Corp purchased a new stake in Garmin during the 1st quarter valued at approximately $37,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Garmin Stock Performance

NYSE:GRMN traded down $0.67 during trading hours on Friday, hitting $285.73. The company’s stock had a trading volume of 942,918 shares, compared to its average volume of 904,782. The business’s 50-day moving average is $281.70 and its two-hundred day moving average is $255.40. The company has a market capitalization of $55.06 billion, a PE ratio of 27.42, a PEG ratio of 2.85 and a beta of 0.90. Garmin Ltd. has a 52-week low of $186.67 and a 52-week high of $314.28.

Garmin (NYSE:GRMN) last issued its earnings results on Wednesday, October 28th. The scientific and technical instruments company reported $2.76 EPS for the quarter, topping the consensus estimate of $2.38 by $0.38. Garmin had a net margin of 25.58% and a return on equity of 21.94%. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same period in the previous year, the firm earned $1.99 EPS. The business’s revenue was up 12.2% on a year-over-year basis. As a group, analysts predict that Garmin Ltd. will post 10.77 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Cheng-Wei Wang sold 9,941 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $299.36, for a total value of $2,975,937.76. Following the sale, the insider directly owned 29,506 shares of the company’s stock, valued at approximately $8,832,916.16. This represents a 25.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 14.80% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on GRMN. Barclays lowered their target price on Garmin from $297.00 to $277.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 29th. UBS Group set a $370.00 price target on Garmin in a report on Thursday, August 6th. Arete Research assumed coverage on shares of Garmin in a research report on Wednesday, October 14th. They set a “buy” rating and a $335.00 price objective for the company. Morgan Stanley raised their target price on shares of Garmin from $289.00 to $295.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 29th. Finally, Weiss Ratings raised shares of Garmin from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $315.29.

About Garmin

Garmin Ltd. develops, manufactures and markets navigation, communication and information devices and applications. Its products include GPS-enabled watches and fitness trackers, handheld outdoor navigation devices, marine electronics, aviation systems and automotive navigation technology.

Founded in 1989 by Gary Burrell and Min Kao, Garmin serves consumers and businesses around the world. Its products are used in activities ranging from fitness and outdoor recreation to boating, aviation and transportation.

Garmin is incorporated in Switzerland and has its operational headquarters in Olathe, Kansas.