Clear Street Markets LLC Makes New $476,000 Investment in Garmin Ltd. (NYSE:GRMN)

Clear Street Markets LLC purchased a new stake in Garmin Ltd. (NYSE:GRMNFree Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 3,700 shares of the scientific and technical instruments company’s stock, valued at approximately $476,000.

Several other large investors have also recently made changes to their positions in GRMN. Wetzel Investment Advisors Inc. acquired a new stake in shares of Garmin during the fourth quarter worth about $26,000. Frazier Financial Advisors LLC purchased a new stake in shares of Garmin during the fourth quarter worth $33,000. Headinvest LLC acquired a new stake in shares of Garmin in the third quarter valued at $41,000. Blue Trust Inc. boosted its holdings in Garmin by 35.2% in the fourth quarter. Blue Trust Inc. now owns 380 shares of the scientific and technical instruments company’s stock valued at $49,000 after purchasing an additional 99 shares during the period. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in Garmin during the 4th quarter worth $51,000. 73.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Garmin

In other news, Director Jonathan Burrell sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $146.15, for a total transaction of $2,192,250.00. Following the completion of the sale, the director now owns 623,834 shares in the company, valued at $91,173,339.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Garmin news, EVP Patrick Desbois sold 4,126 shares of Garmin stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $163.52, for a total value of $674,683.52. Following the sale, the executive vice president now owns 58,412 shares of the company’s stock, valued at approximately $9,551,530.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan Burrell sold 15,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $146.15, for a total value of $2,192,250.00. Following the transaction, the director now directly owns 623,834 shares of the company’s stock, valued at $91,173,339.10. The disclosure for this sale can be found here. Insiders have sold 21,476 shares of company stock worth $3,246,764 in the last quarter. Company insiders own 19.54% of the company’s stock.

Garmin Stock Up 1.7 %

NYSE:GRMN traded up $2.67 during mid-day trading on Wednesday, reaching $164.19. 572,693 shares of the stock were exchanged, compared to its average volume of 888,350. Garmin Ltd. has a 1 year low of $99.61 and a 1 year high of $171.64. The company has a 50 day simple moving average of $157.48 and a 200-day simple moving average of $139.97. The stock has a market capitalization of $31.54 billion, a P/E ratio of 23.16, a P/E/G ratio of 3.50 and a beta of 0.98.

Garmin (NYSE:GRMNGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The scientific and technical instruments company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.42. Garmin had a net margin of 24.96% and a return on equity of 17.26%. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the firm posted $1.02 EPS. Garmin’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, research analysts predict that Garmin Ltd. will post 5.77 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on GRMN shares. Bank of America cut shares of Garmin from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $165.00 to $150.00 in a report on Wednesday, May 22nd. Barrington Research increased their target price on Garmin from $119.00 to $140.00 and gave the company an “equal weight” rating in a report on Thursday, February 22nd. StockNews.com downgraded Garmin from a “buy” rating to a “hold” rating in a report on Wednesday. Tigress Financial increased their price objective on Garmin from $175.00 to $210.00 and gave the company a “strong-buy” rating in a report on Tuesday, May 14th. Finally, Barclays boosted their target price on Garmin from $140.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $156.83.

Get Our Latest Stock Analysis on Garmin

Garmin Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Garmin (NYSE:GRMN)

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