Cascade Investment Advisors Inc. Raises Stake in Garmin Ltd. (NYSE:GRMN)

Cascade Investment Advisors Inc. increased its stake in Garmin Ltd. (NYSE:GRMNGet Rating) by 2.6% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 12,201 shares of the scientific and technical instruments company’s stock after buying an additional 307 shares during the quarter. Cascade Investment Advisors Inc.’s holdings in Garmin were worth $1,661,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Eagle Bay Advisors LLC raised its stake in Garmin by 74.0% in the 3rd quarter. Eagle Bay Advisors LLC now owns 167 shares of the scientific and technical instruments company’s stock valued at $26,000 after acquiring an additional 71 shares during the period. Blue Bell Private Wealth Management LLC bought a new stake in Garmin in the 4th quarter valued at about $28,000. Jackson Wealth Management LLC raised its stake in Garmin by 1.6% in the 3rd quarter. Jackson Wealth Management LLC now owns 24,314 shares of the scientific and technical instruments company’s stock valued at $33,000 after acquiring an additional 376 shares during the period. Tradewinds Capital Management LLC raised its stake in Garmin by 100.0% in the 4th quarter. Tradewinds Capital Management LLC now owns 300 shares of the scientific and technical instruments company’s stock valued at $41,000 after acquiring an additional 150 shares during the period. Finally, Spire Wealth Management raised its stake in Garmin by 52.2% in the 4th quarter. Spire Wealth Management now owns 318 shares of the scientific and technical instruments company’s stock valued at $43,000 after acquiring an additional 109 shares during the period. 72.11% of the stock is currently owned by institutional investors.

Shares of GRMN stock traded up $1.89 during trading on Friday, hitting $101.36. The company had a trading volume of 570,965 shares, compared to its average volume of 888,944. The stock’s 50-day moving average is $112.34 and its two-hundred day moving average is $124.49. The stock has a market capitalization of $19.58 billion, a price-to-earnings ratio of 18.26, a price-to-earnings-growth ratio of 2.96 and a beta of 1.01. Garmin Ltd. has a 52 week low of $97.36 and a 52 week high of $178.80.

Garmin (NYSE:GRMNGet Rating) last posted its quarterly earnings data on Wednesday, April 27th. The scientific and technical instruments company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.01. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Garmin had a net margin of 21.12% and a return on equity of 18.67%. Garmin’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.18 earnings per share. On average, research analysts anticipate that Garmin Ltd. will post 5.91 EPS for the current fiscal year.

A number of brokerages recently issued reports on GRMN. Zacks Investment Research upgraded Garmin from a “sell” rating to a “hold” rating and set a $115.00 price objective on the stock in a research note on Monday, May 2nd. Tigress Financial upped their price target on Garmin from $205.00 to $208.00 in a research report on Friday, May 6th. Bank of America upgraded Garmin from a “neutral” rating to a “buy” rating and decreased their price target for the company from $165.00 to $140.00 in a research report on Friday, March 18th. Morgan Stanley decreased their price target on Garmin from $141.00 to $127.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 17th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Garmin from $160.00 to $150.00 in a research report on Thursday, April 28th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $148.00.

Garmin Company Profile (Get Rating)

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices in the Americas, the Asia Pacific, Australian Continent, Europe, the Middle East, and Africa. Its Fitness segment offers running and multi-sport watches; cycling products; activity tracking and smartwatch devices; and fitness and cycling accessories.

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Institutional Ownership by Quarter for Garmin (NYSE:GRMN)

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