Park Avenue Securities LLC Has $1.26 Million Stock Position in Garmin Ltd. (NYSE:GRMN)

Park Avenue Securities LLC boosted its holdings in Garmin Ltd. (NYSE:GRMN) by 62.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,116 shares of the scientific and technical instruments company’s stock after acquiring an additional 2,345 shares during the quarter. Park Avenue Securities LLC’s holdings in Garmin were worth $1,261,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Garmin in the 2nd quarter valued at approximately $31,000. Larson Financial Group LLC boosted its position in Garmin by 578.6% in the third quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock valued at $33,000 after buying an additional 162 shares in the last quarter. Benjamin Edwards Inc. grew its stake in shares of Garmin by 73.3% during the second 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. Itau Unibanco Holding S.A. bought a new position in shares of Garmin in the 3rd quarter valued at $39,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Garmin during the 3rd quarter valued at $59,000. Institutional investors own 81.60% of the company’s stock.

Garmin Stock Performance

NYSE:GRMN opened at $215.50 on Monday. Garmin Ltd. has a fifty-two week low of $119.15 and a fifty-two week high of $222.97. The company has a 50 day simple moving average of $211.45 and a two-hundred day simple moving average of $187.48. The company has a market capitalization of $41.38 billion, a PE ratio of 27.35, a P/E/G ratio of 1.26 and a beta of 0.98.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.53. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. Garmin’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.41 earnings per share. Research analysts predict that Garmin Ltd. will post 7.01 EPS for the current year.

Insider Transactions at Garmin

In other news, CFO Douglas G. Boessen sold 1,761 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $207.99, for a total transaction of $366,270.39. Following the transaction, the chief financial officer now owns 27,612 shares of the company’s stock, valued at $5,743,019.88. This represents a 6.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 sale, the director now directly owns 6,147 shares of the company’s stock, valued at $1,291,484.70. The trade was a 8.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 19.54% of the company’s stock.

Wall Street Analyst Weigh In

GRMN has been the subject of several research reports. Barclays increased their target price on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research report on Friday, November 1st. Morgan Stanley downgraded shares of Garmin from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $155.00 to $138.00 in a research report on Monday, October 7th. Finally, Tigress Financial upped their price target on shares of Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a research report on Monday, December 16th. Three equities research 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 stock. According to data from MarketBeat.com, Garmin currently has a consensus rating of “Hold” and an average price target of $171.00.

Garmin Company 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.