Assetmark Inc. Has $1.41 Million Holdings in Garmin Ltd. (NYSE:GRMN)

Assetmark Inc. boosted its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 24.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 8,005 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,580 shares during the period. Assetmark Inc.’s holdings in Garmin were worth $1,409,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Clearstead Trust LLC acquired a new stake in shares of Garmin during the first quarter worth $30,000. University of Texas Texas AM Investment Management Co. bought a new position in Garmin during the 2nd quarter worth about $31,000. Family Firm Inc. bought a new stake in shares of Garmin in the second quarter valued at about $35,000. Benjamin Edwards Inc. lifted its holdings in shares of Garmin by 73.3% in the second quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock valued at $38,000 after purchasing an additional 99 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of Garmin during the second quarter worth about $46,000. 73.41% of the stock is owned by institutional investors and hedge funds.

Garmin Trading Down 0.8 %

Shares of GRMN opened at $211.32 on Friday. The company has a market cap of $40.58 billion, a price-to-earnings ratio of 27.23, a PEG ratio of 3.25 and a beta of 0.97. The company’s fifty day simple moving average is $178.79 and its 200 day simple moving average is $171.60. Garmin Ltd. has a 1-year low of $118.51 and a 1-year high of $215.55.

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

Insider Transactions at Garmin

In other Garmin news, Director Philip Straub sold 2,750 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $181.46, for a total transaction of $499,015.00. Following the sale, the director now directly owns 88,622 shares in the company, valued at $16,081,348.12. This represents a 3.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Cheng-Wei Wang sold 10,055 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the sale, the insider now owns 40,965 shares in the company, valued at $7,257,359.40. This represents a 19.71 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 13,479 shares of company stock worth $2,419,502. 19.54% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. StockNews.com cut Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Tigress Financial boosted their price objective on shares of Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 19th. Barclays lifted their price target on shares of Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research note on Friday, November 1st. Finally, Morgan Stanley cut shares of Garmin from an “equal weight” rating to an “underweight” rating and cut their price target 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 issued a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $162.67.

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.