Inspire Investing LLC Buys 5,426 Shares of Garmin Ltd. (NYSE:GRMN)

Inspire Investing LLC lifted its stake in shares of Garmin Ltd. (NYSE:GRMN) by 49.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,358 shares of the scientific and technical instruments company’s stock after purchasing an additional 5,426 shares during the quarter. Inspire Investing LLC’s holdings in Garmin were worth $2,879,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GRMN. Clearstead Trust LLC bought a new stake in shares of Garmin during the 1st quarter valued at $30,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Garmin during the 2nd quarter valued at $31,000. Family Firm Inc. bought a new stake in shares of Garmin during the 2nd quarter valued at $35,000. Benjamin Edwards Inc. raised its stake in shares of Garmin by 73.3% during the 2nd quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock valued at $38,000 after purchasing an additional 99 shares during the period. Finally, Headlands Technologies LLC bought a new stake in shares of Garmin during the 2nd quarter valued at $46,000. 73.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GRMN has been the topic of a number of research analyst reports. Morgan Stanley lowered Garmin from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $155.00 to $138.00 in a research note on Monday, October 7th. Barclays lowered Garmin from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $181.00 to $133.00 in a research note on Friday, September 13th. StockNews.com lowered Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Finally, Tigress Financial upped their target price on Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 19th. 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. Based on data from MarketBeat, Garmin has a consensus rating of “Hold” and a consensus price target of $158.50.

Garmin Trading Up 0.1 %

GRMN opened at $165.89 on Friday. The stock has a 50-day moving average price of $173.78 and a 200-day moving average price of $165.06. Garmin Ltd. has a 12-month low of $99.61 and a 12-month high of $184.42. The stock has a market capitalization of $31.86 billion, a P/E ratio of 23.40, a PEG ratio of 2.85 and a beta of 0.99.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.18. Garmin had a return on equity of 17.09% and a net margin of 24.36%. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the prior year, the business earned $1.45 EPS. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, equities research analysts predict that Garmin Ltd. will post 6.08 EPS for the current year.

Insider Activity at Garmin

In related news, insider Cheng-Wei Wang sold 10,055 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the completion of the sale, the insider now directly owns 40,965 shares in the company, valued at $7,257,359.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Garmin news, Director Philip Straub sold 2,750 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $181.46, for a total transaction of $499,015.00. Following the completion of the transaction, the director now owns 88,622 shares of the company’s stock, valued at $16,081,348.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Cheng-Wei Wang sold 10,055 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total value of $1,781,343.80. Following the transaction, the insider now directly owns 40,965 shares of the company’s stock, valued at $7,257,359.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,892 shares of company stock worth $2,296,174 in the last ninety days. 19.54% of the stock is owned by company insiders.

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.