Cerity Partners LLC Purchases 14,912 Shares of Garmin Ltd. (NYSE:GRMN)

Cerity Partners LLC lifted its position in shares of Garmin Ltd. (NYSE:GRMN) by 53.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,035 shares of the scientific and technical instruments company’s stock after acquiring an additional 14,912 shares during the quarter. Cerity Partners LLC’s holdings in Garmin were worth $7,575,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Garmin during the second quarter valued at about $31,000. Family Firm Inc. bought a new position in Garmin in the 2nd quarter valued at approximately $35,000. Benjamin Edwards Inc. boosted its position 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 period. Headlands Technologies LLC bought a new stake in Garmin during the 2nd quarter worth approximately $46,000. Finally, West Oak Capital LLC acquired a new position in Garmin in the 2nd quarter valued at approximately $53,000. Institutional investors own 73.41% of the company’s stock.

Garmin Price Performance

Shares of NYSE:GRMN opened at $212.09 on Thursday. Garmin Ltd. has a 1 year low of $119.15 and a 1 year high of $216.44. The business’s 50-day moving average is $185.28 and its 200-day moving average is $174.89. The company has a market capitalization of $40.73 billion, a price-to-earnings ratio of 26.91, a P/E/G ratio of 1.42 and a beta of 0.97.

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

Wall Street Analyst Weigh In

GRMN has been the topic of a number of recent research reports. Tigress Financial lifted their price target on shares of Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 19th. Morgan Stanley lowered Garmin from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $155.00 to $138.00 in a research report on Monday, October 7th. StockNews.com lowered Garmin from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Finally, Barclays raised their price objective on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research report on Friday, November 1st. Three investment 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 company’s stock. According to MarketBeat, Garmin has a consensus rating of “Hold” and an average target price of $162.67.

Insiders Place Their Bets

In related news, Director Philip Straub sold 2,750 shares of the stock in a transaction 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 in the company, valued at $16,081,348.12. This trade represents a 3.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sean Biddlecombe sold 587 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $210.10, for a total transaction of $123,328.70. Following the sale, the director now owns 6,147 shares of the company’s stock, valued at $1,291,484.70. This trade represents a 8.72 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 19.54% of the company’s stock.

Garmin Company 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.