Moody National Bank Trust Division Grows Holdings in Garmin Ltd. (NYSE:GRMN)

Moody National Bank Trust Division grew its holdings in Garmin Ltd. (NYSE:GRMNGet Rating) by 54.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,246 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,488 shares during the period. Moody National Bank Trust Division’s holdings in Garmin were worth $418,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Riverview Trust Co bought a new position in shares of Garmin during the 1st quarter worth $26,000. HWG Holdings LP bought a new position in shares of Garmin during the 4th quarter worth $35,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Garmin during the 1st quarter worth $45,000. Tradewinds Capital Management LLC grew its position in shares of Garmin by 33.3% during the 1st quarter. Tradewinds Capital Management LLC now owns 400 shares of the scientific and technical instruments company’s stock worth $47,000 after buying an additional 100 shares in the last quarter. Finally, Focused Wealth Management Inc bought a new position in shares of Garmin during the 1st quarter worth $71,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Insiders Place Their Bets

In other Garmin news, CEO Clifton A. Pemble sold 9,550 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $90.00, for a total value of $859,500.00. Following the completion of the sale, the chief executive officer now owns 135,950 shares of the company’s stock, valued at $12,235,500. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Garmin news, CEO Clifton A. Pemble sold 9,550 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $90.00, for a total value of $859,500.00. Following the completion of the sale, the chief executive officer now owns 135,950 shares of the company’s stock, valued at $12,235,500. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Clifton A. Pemble sold 16,089 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $97.81, for a total value of $1,573,665.09. Following the completion of the sale, the chief executive officer now directly owns 145,500 shares of the company’s stock, valued at approximately $14,231,355. The disclosure for this sale can be found here. Corporate insiders own 20.34% of the company’s stock.

Wall Street Analyst Weigh In

GRMN has been the topic of a number of recent research reports. TheStreet downgraded Garmin from a “b” rating to a “c+” rating in a research report on Wednesday, July 27th. Tigress Financial dropped their price target on Garmin from $208.00 to $165.00 and set a “strong-buy” rating on the stock in a research report on Friday, August 5th. Morgan Stanley dropped their price objective on Garmin from $127.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 14th. Finally, Bank of America downgraded Garmin from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $137.00 to $109.00 in a research report on Tuesday, August 2nd. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $134.75.

Garmin Price Performance

Shares of GRMN stock opened at $85.73 on Monday. Garmin Ltd. has a 1-year low of $85.59 and a 1-year high of $173.29. The stock’s 50-day moving average is $95.93 and its 200 day moving average is $103.19. The company has a market cap of $16.53 billion, a P/E ratio of 16.36, a PEG ratio of 3.13 and a beta of 0.97.

Garmin (NYSE:GRMNGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The scientific and technical instruments company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.02. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.37 billion. Garmin had a return on equity of 17.71% and a net margin of 20.31%. The firm’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.68 earnings per share. On average, analysts anticipate that Garmin Ltd. will post 4.9 EPS for the current year.

About Garmin

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Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices in the Americas, the Asia Pacific, Australian Continent, Europe, the Middle East, and Africa. Its Fitness segment offers running and multi-sport watches; cycling products; activity tracking and smartwatch devices; and fitness and cycling accessories.

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Institutional Ownership by Quarter for Garmin (NYSE:GRMN)

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