Long Run Wealth Advisors LLC Reduces Stock Position in Garmin Ltd. (NYSE:GRMN)

Long Run Wealth Advisors LLC trimmed its position in Garmin Ltd. (NYSE:GRMN) by 13.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,089 shares of the scientific and technical instruments company’s stock after selling 1,775 shares during the quarter. Long Run Wealth Advisors LLC’s holdings in Garmin were worth $1,952,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Clearstead Trust LLC purchased a new stake in Garmin in the first quarter valued at $30,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Garmin in the second quarter worth about $31,000. Family Firm Inc. acquired a new stake in Garmin during the second quarter worth about $35,000. Benjamin Edwards Inc. raised its position in Garmin by 73.3% during the second quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock valued at $38,000 after acquiring an additional 99 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in Garmin during the second quarter valued at approximately $46,000. Institutional investors and hedge funds own 73.41% of the company’s stock.

Insider Buying and Selling at Garmin

In other news, Director Philip Straub sold 2,750 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $181.46, for a total transaction of $499,015.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Garmin news, Director Philip Straub sold 2,750 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $181.46, for a total value of $499,015.00. Following the completion of the sale, the director now directly owns 88,622 shares of the company’s stock, valued at $16,081,348.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Cheng-Wei Wang sold 10,055 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were 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 of the company’s stock, valued at approximately $7,257,359.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,892 shares of company stock worth $2,296,174. Corporate insiders own 19.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on GRMN shares. Barclays raised their price objective on shares of Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research note on Friday, November 1st. StockNews.com lowered shares of Garmin from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Tigress Financial increased their target price on shares of Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 19th. Finally, Morgan Stanley downgraded Garmin from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $155.00 to $138.00 in a research report on Monday, October 7th. Three investment 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.com, Garmin has a consensus rating of “Hold” and a consensus target price of $162.67.

Garmin Stock Up 2.0 %

GRMN opened at $204.18 on Wednesday. The company has a market cap of $39.21 billion, a PE ratio of 25.91, a price-to-earnings-growth ratio of 2.99 and a beta of 0.97. Garmin Ltd. has a twelve month low of $114.49 and a twelve month high of $207.22. The company has a 50-day moving average price of $175.10 and a 200 day moving average price of $168.86.

Garmin (NYSE:GRMN) last announced its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.53. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The business’s revenue was up 24.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.41 earnings per share. As a group, sell-side analysts expect that Garmin Ltd. will post 6.94 earnings per share for the current year.

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.