Moody National Bank Trust Division Raises Stock Holdings in Garmin Ltd. (NYSE:GRMN)

Moody National Bank Trust Division boosted its position in Garmin Ltd. (NYSE:GRMN – Get Rating) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,393 shares of the scientific and technical instruments company’s stock after purchasing an additional 357 shares during the quarter. Moody National Bank Trust Division’s holdings in Garmin were worth $775,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GRMN. Coldstream Capital Management Inc. bought a new position in shares of Garmin in the 4th quarter worth about $1,427,000. MinichMacGregor Wealth Management LLC purchased a new position in shares of Garmin during the fourth quarter valued at approximately $42,000. Yousif Capital Management LLC boosted its position in shares of Garmin by 3.9% in the 4th quarter. Yousif Capital Management LLC now owns 22,216 shares of the scientific and technical instruments company’s stock worth $2,050,000 after purchasing an additional 833 shares in the last quarter. Wedmont Private Capital grew its stake in shares of Garmin by 10.1% in the 4th quarter. Wedmont Private Capital now owns 4,234 shares of the scientific and technical instruments company’s stock worth $415,000 after buying an additional 387 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in Garmin by 13.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 26,616 shares of the scientific and technical instruments company’s stock valued at $2,138,000 after buying an additional 3,193 shares in the last quarter. Hedge funds and other institutional investors own 63.29% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Tigress Financial reissued a “strong-buy” rating and issued a $165.00 target price on shares of Garmin in a report on Friday, March 3rd. Barclays upped their price target on shares of Garmin from $97.00 to $101.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 23rd. JPMorgan Chase & Co. raised their price objective on shares of Garmin from $108.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, February 23rd. Morgan Stanley upped their target price on shares of Garmin from $91.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 23rd. Finally, TheStreet raised shares of Garmin from a “c+” rating to a “b-” rating in a research report on Monday, March 13th. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Garmin currently has a consensus rating of “Moderate Buy” and an average price target of $123.17.

Garmin Stock Down 1.3 %

Shares of NYSE GRMN opened at $96.02 on Friday. The firm’s 50-day moving average price is $97.87 and its 200-day moving average price is $91.12. Garmin Ltd. has a 52-week low of $76.37 and a 52-week high of $121.74. The company has a market cap of $18.37 billion, a PE ratio of 19.05, a PEG ratio of 3.30 and a beta of 0.94.

Garmin (NYSE:GRMN – Get Rating) last issued its earnings results on Wednesday, February 22nd. The scientific and technical instruments company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.21. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Garmin had a net margin of 20.03% and a return on equity of 16.41%. The firm’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the company posted $1.55 earnings per share. As a group, equities research analysts anticipate that Garmin Ltd. will post 5.15 EPS for the current fiscal year.

Insider Transactions at Garmin

In related news, EVP Patrick Desbois sold 3,991 shares of the company’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $98.50, for a total transaction of $393,113.50. Following the completion of the sale, the executive vice president now owns 47,050 shares in the company, valued at $4,634,425. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Patrick Desbois sold 3,991 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $98.50, for a total value of $393,113.50. Following the transaction, the executive vice president now owns 47,050 shares of the company’s stock, valued at $4,634,425. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Sean Biddlecombe sold 867 shares of the company’s stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $98.71, for a total transaction of $85,581.57. Following the sale, the director now directly owns 6,130 shares of the company’s stock, valued at $605,092.30. The disclosure for this sale can be found here. Insiders have sold a total of 16,610 shares of company stock worth $1,635,921 in the last ninety days. Insiders own 20.34% of the company’s stock.

Garmin Company Profile

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Garmin Ltd. is a holding company, which engages in the provision of navigation, communications and information devices, most of which are enabled by Global Positioning System (GPS) technology. It operates through the following segments: Marine, Outdoor, Fitness, Auto OEM, Consumer Auto, and Aviation.