4,172 Shares in Garmin Ltd. $GRMN Purchased by Machina Capital S.A.S.

Machina Capital S.A.S. bought a new stake in Garmin Ltd. (NYSE:GRMN) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,172 shares of the scientific and technical instruments company’s stock, valued at approximately $1,197,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Elevation Wealth Partners LLC increased its stake in shares of Garmin by 336.4% during the third quarter. Elevation Wealth Partners LLC now owns 96 shares of the scientific and technical instruments company’s stock worth $28,000 after purchasing an additional 74 shares during the period. Latitude Advisors LLC bought a new stake in Garmin in the 3rd quarter valued at $32,000. CoreCap Advisors LLC boosted its stake in Garmin by 216.2% in the 3rd quarter. CoreCap Advisors LLC now owns 117 shares of the scientific and technical instruments company’s stock valued at $34,000 after purchasing an additional 80 shares during the period. Groupe la Francaise grew its holdings in Garmin by 346.4% in the 1st quarter. Groupe la Francaise now owns 125 shares of the scientific and technical instruments company’s stock valued at $29,000 after buying an additional 97 shares in the last quarter. Finally, Gen Wealth Partners Inc acquired a new position in Garmin in the 3rd quarter valued at $37,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Garmin Price Performance

NYSE GRMN opened at $286.56 on Friday. The business has a fifty day moving average price of $282.52 and a two-hundred day moving average price of $257.09. The stock has a market capitalization of $55.22 billion, a PE ratio of 28.15, a PEG ratio of 2.91 and a beta of 0.90. Garmin Ltd. has a fifty-two week low of $186.67 and a fifty-two week high of $314.28.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, October 28th. The scientific and technical instruments company reported $2.76 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.38. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Garmin had a return on equity of 21.94% and a net margin of 25.58%. Garmin’s revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.99 EPS. As a group, sell-side analysts expect that Garmin Ltd. will post 10.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Barclays lowered their price objective on Garmin from $297.00 to $277.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 29th. Zacks Research cut shares of Garmin from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 12th. JPMorgan Chase & Co. upped their price target on shares of Garmin from $295.00 to $310.00 and gave the company a “neutral” rating in a research note on Thursday, October 29th. UBS Group set a $370.00 price target on shares of Garmin in a research note on Thursday, August 6th. Finally, Bank of America reaffirmed an “underperform” rating on shares of Garmin in a research report on Monday, November 2nd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $315.29.

Insider Activity at Garmin

In related news, insider Cheng-Wei Wang sold 9,941 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $299.36, for a total transaction of $2,975,937.76. Following the sale, the insider owned 29,506 shares of the company’s stock, valued at $8,832,916.16. This trade represents a 25.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 14.80% of the company’s stock.

Garmin Company Profile

Garmin Ltd. develops, manufactures and markets navigation, communication and information devices and applications. Its products include GPS-enabled watches and fitness trackers, handheld outdoor navigation devices, marine electronics, aviation systems and automotive navigation technology. Founded in 1989 by Gary Burrell and Min Kao, Garmin serves consumers and businesses around the world. Its products are used in activities ranging from fitness and outdoor recreation to boating, aviation and transportation.