1,108 Shares in Garmin Ltd. (NYSE:GRMN) Purchased by Aaron Wealth Advisors LLC

Aaron Wealth Advisors LLC purchased a new stake in shares of Garmin Ltd. (NYSE:GRMN) in the fourth quarter, Holdings Channel.com reports. The firm purchased 1,108 shares of the scientific and technical instruments company’s stock, valued at approximately $229,000.

Several other institutional investors and hedge funds have also recently modified their holdings of GRMN. FMR LLC grew its holdings in Garmin by 40.8% during the third quarter. FMR LLC now owns 3,775,154 shares of the scientific and technical instruments company’s stock worth $664,540,000 after buying an additional 1,093,219 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Garmin by 136.7% in the 2nd quarter. AQR Capital Management LLC now owns 711,849 shares of the scientific and technical instruments company’s stock worth $115,177,000 after acquiring an additional 411,084 shares in the last quarter. Montrusco Bolton Investments Inc. bought a new position in shares of Garmin during the third quarter valued at about $53,252,000. Marshall Wace LLP boosted its holdings in Garmin by 34.0% during the second quarter. Marshall Wace LLP now owns 1,098,443 shares of the scientific and technical instruments company’s stock worth $178,958,000 after purchasing an additional 278,990 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in Garmin by 1,580.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 287,283 shares of the scientific and technical instruments company’s stock worth $50,570,000 after purchasing an additional 270,186 shares in the last quarter. 81.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on GRMN shares. Tigress Financial boosted their target price on Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research note on Monday, December 16th. Morgan Stanley cut Garmin from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $155.00 to $138.00 in a research report on Monday, October 7th. Finally, Barclays raised 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. Three research 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $171.00.

Insider Activity at Garmin

In other news, CFO Douglas G. Boessen sold 1,761 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $207.99, for a total value of $366,270.39. Following the completion of the transaction, the chief financial officer now directly owns 27,612 shares in the company, valued at approximately $5,743,019.88. This trade represents a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sean Biddlecombe sold 587 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $210.10, for a total transaction of $123,328.70. Following the sale, the director now directly owns 6,147 shares in the company, valued at $1,291,484.70. This trade represents a 8.72 % decrease in their position. The disclosure for this sale can be found here. 19.54% of the stock is owned by company insiders.

Garmin Price Performance

NYSE:GRMN opened at $217.83 on Wednesday. Garmin Ltd. has a 1 year low of $119.15 and a 1 year high of $222.97. The business has a fifty day simple moving average of $211.50 and a two-hundred day simple moving average of $187.87. The company has a market capitalization of $41.83 billion, a P/E ratio of 27.64, a P/E/G ratio of 1.30 and a beta of 0.98.

Garmin (NYSE:GRMN) last issued its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.53. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter last year, the business earned $1.41 earnings per share. The company’s quarterly revenue was up 24.1% on a year-over-year basis. As a group, analysts anticipate that Garmin Ltd. will post 7.01 earnings per share for the current year.

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.