UMB Bank n.a. Purchases 196 Shares of Garmin Ltd. (NYSE:GRMN)

UMB Bank n.a. increased its position in shares of Garmin Ltd. (NYSE:GRMN) by 5.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,598 shares of the scientific and technical instruments company’s stock after purchasing an additional 196 shares during the period. UMB Bank n.a.’s holdings in Garmin were worth $742,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Citigroup Inc. lifted its holdings in shares of Garmin by 123.2% in the third quarter. Citigroup Inc. now owns 283,412 shares of the scientific and technical instruments company’s stock worth $49,889,000 after buying an additional 156,441 shares in the last quarter. Algert Global LLC purchased a new stake in Garmin in the 2nd quarter worth $508,000. Dynamic Advisor Solutions LLC bought a new position in shares of Garmin during the 3rd quarter valued at about $695,000. Trajan Wealth LLC boosted its holdings in shares of Garmin by 9.1% during the 3rd quarter. Trajan Wealth LLC now owns 82,362 shares of the scientific and technical instruments company’s stock valued at $14,498,000 after purchasing an additional 6,878 shares during the last quarter. Finally, Passumpsic Savings Bank purchased a new position in shares of Garmin during the third quarter valued at about $3,137,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Insider Transactions at Garmin

In other news, Director Sean Biddlecombe sold 587 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $210.10, for a total value of $123,328.70. Following the transaction, the director now directly owns 6,147 shares in the company, valued at approximately $1,291,484.70. This represents a 8.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Douglas G. Boessen sold 1,761 shares of Garmin stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $207.99, for a total transaction of $366,270.39. Following the sale, the chief financial officer now owns 27,612 shares of the company’s stock, valued at $5,743,019.88. The trade was a 6.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 19.54% of the company’s stock.

Wall Street Analyst Weigh In

GRMN has been the topic of a number of research analyst reports. Barclays boosted their target price on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research report on Friday, November 1st. Morgan Stanley cut Garmin from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $155.00 to $138.00 in a report on Monday, October 7th. Finally, Tigress Financial raised their target price on shares of Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a report on Monday, December 16th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $171.00.

Garmin Price Performance

Shares of GRMN stock opened at $217.83 on Wednesday. The company has a market cap of $41.83 billion, a PE ratio of 27.64, a price-to-earnings-growth ratio of 1.30 and a beta of 0.98. Garmin Ltd. has a 1 year low of $119.15 and a 1 year high of $222.97. The stock’s 50 day simple moving average is $211.50 and its two-hundred day simple moving average is $187.87.

Garmin (NYSE:GRMN) last issued 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. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period last year, the company earned $1.41 earnings per share. Garmin’s revenue was up 24.1% on a year-over-year basis. Equities research analysts expect that Garmin Ltd. will post 7.01 EPS for the current year.

Garmin 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.