10,579 Shares in Garmin Ltd. $GRMN Acquired by Trek Financial LLC

Trek Financial LLC bought a new stake in shares of Garmin Ltd. (NYSE:GRMN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 10,579 shares of the scientific and technical instruments company’s stock, valued at approximately $3,034,000.

Several other large investors have also recently modified their holdings of the stock. Bank Julius Baer & Co. Ltd Zurich boosted its stake in Garmin by 7.1% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 20,387 shares of the scientific and technical instruments company’s stock worth $5,863,000 after buying an additional 1,344 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Garmin in the third quarter valued at $11,971,000. Profund Advisors LLC raised its stake in shares of Garmin by 2.7% in the third quarter. Profund Advisors LLC now owns 2,128 shares of the scientific and technical instruments company’s stock valued at $610,000 after acquiring an additional 56 shares during the period. ProShare Advisors LLC lifted its holdings in shares of Garmin by 2.2% in the 3rd quarter. ProShare Advisors LLC now owns 25,439 shares of the scientific and technical instruments company’s stock worth $7,297,000 after acquiring an additional 536 shares during the last quarter. Finally, Unison Advisors LLC lifted its holdings in shares of Garmin by 0.4% in the 3rd quarter. Unison Advisors LLC now owns 28,683 shares of the scientific and technical instruments company’s stock worth $8,227,000 after acquiring an additional 123 shares during the last quarter. Institutional investors own 81.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GRMN. Weiss Ratings raised shares of Garmin from a “buy (b)” rating to a “buy (b+)” rating in a research note on Wednesday, October 28th. Bank of America reissued an “underperform” rating on shares of Garmin in a research report on Monday. Morgan Stanley increased their price objective on shares of Garmin from $289.00 to $295.00 and gave the stock an “equal weight” rating in a research report on Thursday. KeyCorp reissued a “sector weight” rating on shares of Garmin in a research note on Thursday. Finally, Tigress Financial restated a “strong-buy” rating on shares of Garmin in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $315.29.

Garmin Stock Up 0.7%

Shares of Garmin stock opened at $274.69 on Tuesday. The stock’s fifty day moving average is $282.20 and its two-hundred day moving average is $253.92. The company has a market capitalization of $52.97 billion, a PE ratio of 26.36, a price-to-earnings-growth ratio of 2.84 and a beta of 0.82. Garmin Ltd. has a 52 week low of $186.67 and a 52 week high of $314.28.

Garmin (NYSE:GRMN) last released its earnings results on Wednesday, October 28th. The scientific and technical instruments company reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.38. Garmin had a return on equity of 21.94% and a net margin of 25.58%. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. During the same period last year, the company earned $1.99 earnings per share. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. As a group, research analysts anticipate that Garmin Ltd. will post 10.84 earnings per share for the current year.

Insider Activity at Garmin

In related news, insider Cheng-Wei Wang sold 9,941 shares of the firm’s 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 transaction, the insider owned 29,506 shares of the company’s stock, valued at $8,832,916.16. This trade represents a 25.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 14.80% of the company’s stock.

Garmin Company Profile

Garmin Ltd. (NYSE: GRMN) designs and manufactures GPS-enabled technology and smart devices for fitness, outdoor recreation, aviation, marine, and automotive markets. Its product portfolio includes smartwatches, cycling computers, sports and activity trackers, satellite communication devices, navigation systems, and related sensors and accessories.

The company also develops aviation systems and avionics, marine chartplotters and sonar equipment, and navigation and infotainment solutions for vehicle manufacturers.