Atria Investments Inc Has $2.01 Million Holdings in Garmin Ltd. (NYSE:GRMN)

Atria Investments Inc trimmed its position in shares of Garmin Ltd. (NYSE:GRMN) by 4.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,390 shares of the scientific and technical instruments company’s stock after selling 540 shares during the period. Atria Investments Inc’s holdings in Garmin were worth $2,005,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of GRMN. Clearstead Trust LLC bought a new stake in shares of Garmin during the 1st quarter worth approximately $30,000. University of Texas Texas AM Investment Management Co. bought a new position in Garmin in the second quarter valued at approximately $31,000. Family Firm Inc. acquired a new position in Garmin during the second quarter valued at approximately $35,000. Benjamin Edwards Inc. lifted its stake in Garmin by 73.3% during the second quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock worth $38,000 after purchasing an additional 99 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Garmin in the 2nd quarter valued at $46,000. 73.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Garmin

In related news, Director Sean Biddlecombe sold 587 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was 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 in the company, valued at $1,291,484.70. This represents a 8.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cheng-Wei Wang sold 10,055 shares of Garmin stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total value of $1,781,343.80. Following the completion of the sale, the insider now owns 40,965 shares of the company’s stock, valued at approximately $7,257,359.40. The trade was a 19.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,479 shares of company stock valued at $2,419,502. 19.54% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GRMN shares. Tigress Financial upped their price objective on Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 19th. Barclays increased their target price on shares of Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Morgan Stanley lowered shares of Garmin from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $155.00 to $138.00 in a report on Monday, October 7th. Finally, StockNews.com downgraded shares of Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $162.67.

Garmin Price Performance

Shares of NYSE GRMN opened at $211.32 on Friday. The company has a 50 day simple moving average of $178.79 and a 200 day simple moving average of $171.60. Garmin Ltd. has a 1 year low of $118.51 and a 1 year high of $215.55. The firm has a market cap of $40.58 billion, a PE ratio of 26.82, a price-to-earnings-growth ratio of 3.25 and a beta of 0.97.

Garmin (NYSE:GRMN) last announced its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.53. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.44 billion. Garmin had a return on equity of 17.99% and a net margin of 25.48%. Garmin’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same period last year, the company earned $1.41 EPS. As a group, research analysts anticipate that Garmin Ltd. will post 6.88 earnings per share for the current fiscal year.

About Garmin

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.