Baldwin Wealth Partners LLC MA Grows Stake in Garmin Ltd. (NYSE:GRMN)

Baldwin Wealth Partners LLC MA grew its holdings in Garmin Ltd. (NYSE:GRMN) by 4.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 83,662 shares of the scientific and technical instruments company’s stock after buying an additional 3,568 shares during the quarter. Garmin makes up about 1.2% of Baldwin Wealth Partners LLC MA’s investment portfolio, making the stock its 25th largest holding. Baldwin Wealth Partners LLC MA’s holdings in Garmin were worth $17,256,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Geneos Wealth Management Inc. raised its stake in Garmin by 1.7% during the fourth quarter. Geneos Wealth Management Inc. now owns 2,863 shares of the scientific and technical instruments company’s stock valued at $591,000 after buying an additional 49 shares during the last quarter. HB Wealth Management LLC increased its holdings in shares of Garmin by 1.4% in the 4th quarter. HB Wealth Management LLC now owns 3,821 shares of the scientific and technical instruments company’s stock worth $788,000 after purchasing an additional 53 shares in the last quarter. Outlook Wealth Advisors LLC increased its holdings in shares of Garmin by 2.6% in the 4th quarter. Outlook Wealth Advisors LLC now owns 2,332 shares of the scientific and technical instruments company’s stock worth $481,000 after purchasing an additional 58 shares in the last quarter. Sumitomo Life Insurance Co. increased its holdings in shares of Garmin by 0.9% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 6,686 shares of the scientific and technical instruments company’s stock worth $1,177,000 after purchasing an additional 61 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of Garmin by 8.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 804 shares of the scientific and technical instruments company’s stock worth $166,000 after purchasing an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Garmin Trading Up 0.2 %

GRMN stock opened at $214.64 on Monday. Garmin Ltd. has a 12-month low of $119.15 and a 12-month high of $222.97. The stock has a market cap of $41.22 billion, a price-to-earnings ratio of 27.23, a PEG ratio of 1.31 and a beta of 0.98. The business’s 50-day moving average is $211.85 and its 200 day moving average is $189.38.

Garmin (NYSE:GRMN) last released its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the prior year, the firm posted $1.41 earnings per share. The firm’s quarterly revenue was up 24.1% on a year-over-year basis. As a group, equities analysts forecast that Garmin Ltd. will post 7.01 EPS for the current fiscal year.

Insider Transactions at Garmin

In related news, CFO Douglas G. Boessen sold 1,761 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $207.99, for a total transaction of $366,270.39. Following the completion of the transaction, the chief financial officer now directly owns 27,612 shares of the company’s stock, valued at $5,743,019.88. This represents a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Sean Biddlecombe sold 587 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $210.10, for a total transaction of $123,328.70. Following the completion of the transaction, the director now directly owns 6,147 shares of the company’s stock, valued at approximately $1,291,484.70. This trade represents a 8.72 % 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.

Analysts Set New Price Targets

A number of analysts have commented on the company. Barclays lifted their target price on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Tigress Financial boosted their price objective on Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a research report on Monday, December 16th. Finally, Morgan Stanley downgraded Garmin from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $155.00 to $138.00 in a research report on Monday, October 7th. Three 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 stock. Based on data from MarketBeat, Garmin has an average rating of “Hold” and a consensus price target of $171.00.

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.