Walleye Capital LLC Buys New Shares in Garmin Ltd. (NYSE:GRMN)

Walleye Capital LLC bought a new stake in shares of Garmin Ltd. (NYSE:GRMNGet Rating) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 4,086 shares of the scientific and technical instruments company’s stock, valued at approximately $485,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kestra Private Wealth Services LLC boosted its position in Garmin by 4.7% during the 1st quarter. Kestra Private Wealth Services LLC now owns 18,730 shares of the scientific and technical instruments company’s stock valued at $2,222,000 after buying an additional 848 shares during the period. B. Riley Wealth Management Inc. purchased a new stake in shares of Garmin in the 1st quarter worth about $287,000. Veriti Management LLC lifted its position in shares of Garmin by 15.5% in the 1st quarter. Veriti Management LLC now owns 5,477 shares of the scientific and technical instruments company’s stock worth $650,000 after purchasing an additional 734 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Garmin by 3.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 830,374 shares of the scientific and technical instruments company’s stock worth $113,071,000 after purchasing an additional 24,026 shares during the period. Finally, Norinchukin Bank The lifted its position in shares of Garmin by 8.9% in the 1st quarter. Norinchukin Bank The now owns 14,231 shares of the scientific and technical instruments company’s stock worth $1,688,000 after purchasing an additional 1,159 shares during the period. Institutional investors own 62.50% of the company’s stock.

Insider Buying and Selling at Garmin

In other Garmin news, CEO Clifton A. Pemble sold 16,089 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $97.81, for a total transaction of $1,573,665.09. Following the completion of the sale, the chief executive officer now directly owns 145,500 shares in the company, valued at approximately $14,231,355. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Clifton A. Pemble sold 9,550 shares of Garmin stock in a transaction that occurred on Wednesday, September 7th. The shares were 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 directly owns 135,950 shares in the company, valued at $12,235,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Clifton A. Pemble sold 16,089 shares of Garmin stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $97.81, for a total transaction of $1,573,665.09. Following the completion of the sale, the chief executive officer now owns 145,500 shares of the company’s stock, valued at $14,231,355. The disclosure for this sale can be found here. 20.34% of the stock is owned by company insiders.

Analyst Ratings Changes

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

Garmin Price Performance

Shares of NYSE GRMN opened at $82.94 on Friday. Garmin Ltd. has a 1 year low of $82.70 and a 1 year high of $173.29. The stock has a market cap of $16.00 billion, a P/E ratio of 15.84, a price-to-earnings-growth ratio of 3.12 and a beta of 0.97. The firm has a 50-day moving average of $95.03 and a 200 day moving average of $102.78.

Garmin (NYSE:GRMNGet Rating) last released 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 business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.37 billion. Garmin had a net margin of 20.31% and a return on equity of 17.71%. Garmin’s revenue was down 6.5% compared to the same quarter last year. During the same period last year, the business earned $1.68 EPS. Research analysts expect that Garmin Ltd. will post 4.9 earnings per share for the current fiscal year.

Garmin Profile

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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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