X Square Capital LLC Purchases 364 Shares of Garmin Ltd. (NYSE:GRMN)

X Square Capital LLC lifted its position in shares of Garmin Ltd. (NYSE:GRMN) by 7.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,521 shares of the scientific and technical instruments company’s stock after purchasing an additional 364 shares during the quarter. X Square Capital LLC’s holdings in Garmin were worth $972,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. purchased a new position in Garmin during the second quarter valued at $31,000. Clearstead Trust LLC purchased a new position in Garmin during the first quarter valued at $30,000. Family Firm Inc. purchased a new position in Garmin during the second quarter valued at $35,000. Benjamin Edwards Inc. raised its stake 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 buying an additional 99 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in Garmin during the second quarter valued at $46,000. 73.41% of the stock is currently owned by institutional investors.

Insider Activity at Garmin

In related news, insider Cheng-Wei Wang sold 10,055 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was 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 owns 40,965 shares in the company, valued at approximately $7,257,359.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Garmin news, Director Philip Straub sold 2,750 shares of the business’s stock in a transaction dated 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 owns 88,622 shares of the company’s stock, valued at approximately $16,081,348.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Cheng-Wei Wang sold 10,055 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total value of $1,781,343.80. Following the sale, the insider now directly owns 40,965 shares of the company’s stock, valued at $7,257,359.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,892 shares of company stock worth $2,296,174. 19.54% of the stock is owned by insiders.

Garmin Stock Performance

Garmin stock opened at $161.57 on Thursday. The stock has a market cap of $31.03 billion, a PE ratio of 22.79, a price-to-earnings-growth ratio of 2.85 and a beta of 0.99. Garmin Ltd. has a one year low of $99.61 and a one year high of $184.42. The stock has a fifty day moving average of $173.68 and a 200 day moving average of $166.11.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.18. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Garmin had a return on equity of 17.09% and a net margin of 24.36%. Garmin’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.45 earnings per share. As a group, sell-side analysts predict that Garmin Ltd. will post 6.08 EPS for the current fiscal year.

Analysts Set New Price Targets

GRMN has been the subject of a number of recent research reports. Barclays cut Garmin from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $181.00 to $133.00 in a research note on Friday, September 13th. StockNews.com cut Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Morgan Stanley cut Garmin from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $155.00 to $138.00 in a research note on Monday, October 7th. Finally, Tigress Financial boosted their price target on Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 19th. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Garmin currently has a consensus rating of “Hold” and an average target price of $158.50.

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.