Janiczek Wealth Management LLC Has $203,000 Stake in Garmin Ltd. (NYSE:GRMN)

Janiczek Wealth Management LLC raised its stake in Garmin Ltd. (NYSE:GRMN) by 7.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,943 shares of the scientific and technical instruments company’s stock after buying an additional 127 shares during the period. Janiczek Wealth Management LLC’s holdings in Garmin were worth $203,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Garmin by 2.2% in the first quarter. Vanguard Group Inc. now owns 17,276,118 shares of the scientific and technical instruments company’s stock valued at $2,049,121,000 after buying an additional 365,713 shares during the period. BlackRock Inc. lifted its stake in Garmin by 1.6% in the first quarter. BlackRock Inc. now owns 15,034,948 shares of the scientific and technical instruments company’s stock valued at $1,517,327,000 after buying an additional 239,988 shares during the period. Artisan Partners Limited Partnership lifted its stake in Garmin by 3.1% in the first quarter. Artisan Partners Limited Partnership now owns 6,943,506 shares of the scientific and technical instruments company’s stock valued at $700,739,000 after buying an additional 209,373 shares during the period. State Street Corp lifted its stake in Garmin by 5.5% in the third quarter. State Street Corp now owns 6,798,228 shares of the scientific and technical instruments company’s stock valued at $545,971,000 after buying an additional 355,087 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Garmin by 2.1% during the first quarter. Geode Capital Management LLC now owns 3,433,511 shares of the scientific and technical instruments company’s stock worth $345,772,000 after purchasing an additional 70,082 shares during the period. Institutional investors and hedge funds own 63.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GRMN shares. Morgan Stanley cut their price objective on Garmin from $104.00 to $103.00 and set an “equal weight” rating on the stock in a report on Thursday, August 3rd. Bank of America lifted their price objective on Garmin from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, August 8th. Tigress Financial reiterated a “strong-buy” rating and set a $165.00 price objective on shares of Garmin in a report on Thursday, August 10th. Barclays lifted their price objective on Garmin from $106.00 to $113.00 and gave the company an “equal weight” rating in a report on Thursday, August 3rd. Finally, StockNews.com started coverage on Garmin in a report on Wednesday, August 23rd. They set a “hold” rating on the stock. Five research 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 company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $123.20.

Insider Buying and Selling

In related news, Director Sean Biddlecombe sold 857 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $106.02, for a total transaction of $90,859.14. Following the transaction, the director now directly owns 4,834 shares of the company’s stock, valued at approximately $512,500.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Cheng-Wei Wang sold 4,794 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $105.62, for a total value of $506,342.28. Following the completion of the sale, the insider now directly owns 44,808 shares in the company, valued at approximately $4,732,620.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sean Biddlecombe sold 857 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $106.02, for a total value of $90,859.14. Following the completion of the sale, the director now owns 4,834 shares of the company’s stock, valued at $512,500.68. The disclosure for this sale can be found here. 19.89% of the stock is owned by insiders.

Garmin Stock Performance

Garmin stock traded down $0.45 during midday trading on Friday, reaching $106.12. The stock had a trading volume of 1,226,556 shares, compared to its average volume of 834,505. The firm’s fifty day simple moving average is $105.12 and its 200-day simple moving average is $102.86. Garmin Ltd. has a 1-year low of $76.37 and a 1-year high of $108.56. The stock has a market capitalization of $20.32 billion, a P/E ratio of 20.53, a price-to-earnings-growth ratio of 3.68 and a beta of 0.91.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.02. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.26 billion. Garmin had a return on equity of 15.81% and a net margin of 20.23%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.44 EPS. On average, sell-side analysts anticipate that Garmin Ltd. will post 5.16 earnings per share for the current fiscal year.

Garmin Profile

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; fitness and cycling accessories.