Kestra Investment Management LLC purchased a new stake in Garmin Ltd. (NYSE:GRMN - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,110 shares of the scientific and technical instruments company's stock, valued at approximately $547,000.
A number of other large investors have also recently bought and sold shares of GRMN. FMR LLC increased its holdings in Garmin by 40.8% during the 3rd quarter. FMR LLC now owns 3,775,154 shares of the scientific and technical instruments company's stock valued at $664,540,000 after purchasing an additional 1,093,219 shares in the last quarter. AQR Capital Management LLC lifted its position in Garmin by 136.7% during the 2nd quarter. AQR Capital Management LLC now owns 711,849 shares of the scientific and technical instruments company's stock worth $115,177,000 after buying an additional 411,084 shares in the last quarter. Montrusco Bolton Investments Inc. acquired a new stake in Garmin in the 3rd quarter valued at about $53,252,000. Renaissance Technologies LLC bought a new position in shares of Garmin in the second quarter worth about $45,999,000. Finally, Marshall Wace LLP lifted its position in shares of Garmin by 34.0% during the second quarter. Marshall Wace LLP now owns 1,098,443 shares of the scientific and technical instruments company's stock worth $178,958,000 after purchasing an additional 278,990 shares in the last quarter. 73.41% of the stock is currently owned by institutional investors.
Insider Transactions at Garmin
In related news, Director Sean Biddlecombe sold 587 shares of Garmin stock in a transaction that occurred on 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 of the company's stock, valued at $1,291,484.70. This trade represents a 8.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 19.54% of the company's stock.
Garmin Stock Performance
NYSE:GRMN traded up $2.37 during mid-day trading on Monday, hitting $214.97. The stock had a trading volume of 248,025 shares, compared to its average volume of 857,552. Garmin Ltd. has a twelve month low of $119.15 and a twelve month high of $216.44. The stock has a market cap of $41.28 billion, a price-to-earnings ratio of 27.26, a PEG ratio of 1.40 and a beta of 0.97. The company's 50 day simple moving average is $186.92 and its 200 day simple moving average is $175.52.
Garmin (NYSE:GRMN - Get Free Report) last announced its quarterly 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. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the firm posted $1.41 EPS. The company's quarterly revenue was up 24.1% on a year-over-year basis. As a group, equities analysts forecast that Garmin Ltd. will post 7.01 earnings per share for the current year.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on GRMN shares. StockNews.com lowered Garmin from a "buy" rating to a "hold" rating in a research report on Thursday, September 12th. 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 research report on Thursday, September 19th. 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, Barclays raised their price objective on Garmin from $133.00 to $158.00 and gave the stock an "underweight" rating in a research note on Friday, November 1st. Three investment 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. Based on data from MarketBeat, Garmin has a consensus rating of "Hold" and a consensus price target of $162.67.
View Our Latest Stock Analysis on Garmin
Garmin Profile
(
Free Report)
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.
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