First Horizon Advisors Inc. Has $21.90 Million Stock Position in Garmin Ltd. (NYSE:GRMN)

First Horizon Advisors Inc. boosted its stake in shares of Garmin Ltd. (NYSE:GRMN) by 0.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 124,434 shares of the scientific and technical instruments company’s stock after purchasing an additional 614 shares during the period. First Horizon Advisors Inc. owned 0.06% of Garmin worth $21,904,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Sumitomo Life Insurance Co. raised its holdings in shares of Garmin by 0.9% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 6,686 shares of the scientific and technical instruments company’s stock valued at $1,177,000 after purchasing an additional 61 shares during the period. Elo Mutual Pension Insurance Co raised its stake in Garmin by 0.5% in the second quarter. Elo Mutual Pension Insurance Co now owns 14,056 shares of the scientific and technical instruments company’s stock valued at $2,290,000 after buying an additional 70 shares during the period. UMB Bank n.a. lifted its position in shares of Garmin by 2.6% in the second quarter. UMB Bank n.a. now owns 2,879 shares of the scientific and technical instruments company’s stock valued at $469,000 after buying an additional 74 shares during the last quarter. Buckingham Capital Management Inc. boosted its stake in shares of Garmin by 0.7% during the 3rd quarter. Buckingham Capital Management Inc. now owns 11,715 shares of the scientific and technical instruments company’s stock worth $2,062,000 after acquiring an additional 80 shares during the period. Finally, Brighton Jones LLC increased its holdings in shares of Garmin by 5.8% during the 2nd quarter. Brighton Jones LLC now owns 1,522 shares of the scientific and technical instruments company’s stock worth $248,000 after acquiring an additional 83 shares during the last quarter. 73.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Garmin

In related news, Director Philip Straub sold 2,750 shares of the company’s stock in a transaction 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 sale, the director now directly owns 88,622 shares in the company, valued at $16,081,348.12. This represents a 3.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sean Biddlecombe sold 587 shares of Garmin 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 transaction, the director now owns 6,147 shares in the company, valued at approximately $1,291,484.70. This represents a 8.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,424 shares of company stock valued at $638,159 in the last ninety days. 19.54% of the stock is currently owned by company insiders.

Garmin Trading Down 0.9 %

Shares of GRMN stock opened at $207.45 on Wednesday. The stock has a market cap of $39.83 billion, a P/E ratio of 26.33, a price-to-earnings-growth ratio of 3.17 and a beta of 0.97. Garmin Ltd. has a 1 year low of $118.79 and a 1 year high of $215.55. The stock has a 50 day simple moving average of $181.03 and a 200 day simple moving average of $173.17.

Garmin (NYSE:GRMN) last released its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.53. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.44 billion. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The company’s revenue was up 24.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.41 EPS. Analysts forecast that Garmin Ltd. will post 6.88 EPS for the current year.

Analyst Ratings Changes

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

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.