RIA Advisory Group LLC Invests $281,000 in Garmin Ltd. (NYSE:GRMN)

RIA Advisory Group LLC acquired a new position in Garmin Ltd. (NYSE:GRMN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,595 shares of the scientific and technical instruments company’s stock, valued at approximately $281,000.

Several other institutional investors also recently added to or reduced their stakes in GRMN. LBP AM SA grew its position in shares of Garmin by 81.4% in the first quarter. LBP AM SA now owns 7,284 shares of the scientific and technical instruments company’s stock valued at $1,084,000 after purchasing an additional 3,268 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of Garmin by 51.7% during the first quarter. Cetera Investment Advisers now owns 28,395 shares of the scientific and technical instruments company’s stock worth $4,227,000 after acquiring an additional 9,681 shares in the last quarter. Twin Tree Management LP bought a new stake in Garmin in the first quarter worth $3,680,000. Algert Global LLC purchased a new stake in Garmin during the 2nd quarter valued at about $508,000. Finally, Dynamic Advisor Solutions LLC bought a new position in shares of Garmin in the third quarter worth approximately $695,000. Institutional investors own 73.41% of the company’s stock.

Insider Buying and Selling

In related news, Director Philip Straub sold 2,750 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $181.46, for a total transaction of $499,015.00. Following the sale, the director now owns 88,622 shares of the company’s stock, valued at $16,081,348.12. This represents a 3.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sean Biddlecombe sold 587 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $210.10, for a total transaction of $123,328.70. Following the transaction, the director now owns 6,147 shares of the company’s stock, valued at $1,291,484.70. This trade represents a 8.72 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,479 shares of company stock valued at $2,419,502. Corporate insiders own 19.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. StockNews.com cut shares of Garmin from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Barclays increased their target price on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research note on Friday, November 1st. Morgan Stanley downgraded shares of Garmin from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $155.00 to $138.00 in a report on Monday, October 7th. Finally, Tigress Financial upped their target price on shares of Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a report on Thursday, September 19th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $162.67.

Garmin Price Performance

Shares of NYSE:GRMN traded down $2.94 during mid-day trading on Friday, reaching $208.43. 691,220 shares of the company traded hands, compared to its average volume of 860,138. The company’s 50 day moving average price is $179.96 and its 200-day moving average price is $172.31. The firm has a market cap of $40.02 billion, a PE ratio of 26.45, a PEG ratio of 3.24 and a beta of 0.97. Garmin Ltd. has a 52 week low of $118.51 and a 52 week high of $215.55.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.53. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The company’s revenue was up 24.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.41 earnings per share. On average, research analysts predict that Garmin Ltd. will post 6.88 earnings per share for the current fiscal year.

About Garmin

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.