Brooklyn Investment Group Buys Shares of 1,139 Garmin Ltd. (NYSE:GRMN)

Brooklyn Investment Group purchased a new position in shares of Garmin Ltd. (NYSE:GRMN) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 1,139 shares of the scientific and technical instruments company’s stock, valued at approximately $200,000.

Other institutional investors have also modified their holdings of the company. University of Texas Texas AM Investment Management Co. acquired a new position in Garmin during the 2nd quarter worth approximately $31,000. Larson Financial Group LLC grew its stake in shares of Garmin by 578.6% during the third quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 162 shares in the last quarter. Family Firm Inc. purchased a new position in Garmin in the second quarter valued at $35,000. Benjamin Edwards Inc. lifted its holdings in Garmin by 73.3% during the 2nd quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock worth $38,000 after buying an additional 99 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of Garmin during the 2nd quarter worth about $46,000. 73.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GRMN has been the subject of a number of research analyst reports. Morgan Stanley downgraded Garmin from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $155.00 to $138.00 in a report on Monday, October 7th. Tigress Financial boosted their price target on shares of Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 19th. StockNews.com lowered Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Finally, Barclays boosted their target price on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a report on Friday, November 1st. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Garmin presently has a consensus rating of “Hold” and an average target price of $162.67.

Garmin Stock Performance

Shares of NYSE:GRMN opened at $212.85 on Wednesday. Garmin Ltd. has a one year low of $119.15 and a one year high of $216.44. The stock has a market capitalization of $40.87 billion, a price-to-earnings ratio of 27.01, a PEG ratio of 1.42 and a beta of 0.97. The company has a 50-day simple moving average of $184.43 and a 200-day simple moving average of $174.63.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.46 by $0.53. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the prior year, the business earned $1.41 EPS. The firm’s revenue was up 24.1% compared to the same quarter last year. As a group, research analysts forecast that Garmin Ltd. will post 7.01 EPS for the current fiscal year.

Insider Buying and Selling

In other Garmin news, Director Sean Biddlecombe sold 587 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was 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 in the company, valued at approximately $1,291,484.70. The trade was a 8.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Philip Straub sold 2,750 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $181.46, for a total value of $499,015.00. Following the transaction, the director now directly owns 88,622 shares of the company’s stock, valued at approximately $16,081,348.12. This trade represents a 3.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 19.54% of the company’s stock.

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.