Amalgamated Bank Buys 3,975 Shares of Garmin Ltd. (NYSE:GRMN)

Amalgamated Bank boosted its holdings in Garmin Ltd. (NYSE:GRMN - Free Report) by 12.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,188 shares of the scientific and technical instruments company's stock after acquiring an additional 3,975 shares during the period. Amalgamated Bank's holdings in Garmin were worth $6,194,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Nordea Investment Management AB raised its holdings in Garmin by 4.4% during the first quarter. Nordea Investment Management AB now owns 10,111 shares of the scientific and technical instruments company's stock worth $1,503,000 after purchasing an additional 430 shares in the last quarter. Mediolanum International Funds Ltd bought a new stake in Garmin during the first quarter worth approximately $921,000. Envestnet Portfolio Solutions Inc. bought a new stake in Garmin during the first quarter worth approximately $253,000. Empowered Funds LLC raised its holdings in Garmin by 27.1% during the first quarter. Empowered Funds LLC now owns 15,184 shares of the scientific and technical instruments company's stock worth $2,260,000 after purchasing an additional 3,235 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in Garmin by 184.3% during the first quarter. SG Americas Securities LLC now owns 198,100 shares of the scientific and technical instruments company's stock worth $29,491,000 after purchasing an additional 128,429 shares in the last quarter. Institutional investors own 73.41% of the company's stock.

Garmin Stock Up 0.3 %

Shares of NYSE:GRMN traded up $0.67 during trading on Thursday, reaching $210.34. 848,023 shares of the company traded hands, compared to its average volume of 857,974. The firm has a fifty day simple moving average of $176.29 and a 200 day simple moving average of $169.44. The firm has a market cap of $40.39 billion, a P/E ratio of 26.69, a price-to-earnings-growth ratio of 3.22 and a beta of 0.97. Garmin Ltd. has a 1-year low of $114.76 and a 1-year high of $212.27.

Garmin (NYSE:GRMN - Get Free Report) 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 analysts' consensus estimates of $1.46 by $0.53. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The company's revenue for the quarter was up 24.1% on a year-over-year basis. During the same quarter last year, the business posted $1.41 EPS. As a group, research analysts anticipate that Garmin Ltd. will post 6.52 EPS for the current year.

Insiders Place Their Bets

In related 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 sale, the director now owns 6,147 shares of the company's stock, valued at $1,291,484.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Garmin 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 transaction of $123,328.70. Following the sale, the director now directly owns 6,147 shares of the company's stock, valued at approximately $1,291,484.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cheng-Wei Wang sold 10,055 shares of the company's 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 transaction, the insider now owns 40,965 shares in the company, valued at $7,257,359.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,479 shares of company stock valued at $2,419,502 in the last quarter. Insiders own 19.54% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. StockNews.com lowered shares of Garmin from a "buy" rating to a "hold" rating in a research report on Thursday, September 12th. Morgan Stanley lowered shares of Garmin from an "equal weight" rating to an "underweight" rating and decreased their price target for the stock from $155.00 to $138.00 in a research report on Monday, October 7th. Tigress Financial lifted 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. Finally, Barclays lifted their price objective on shares of Garmin from $133.00 to $158.00 and gave the stock an "underweight" rating in a research report on Friday, November 1st. Three investment 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 company has an average rating of "Hold" and a consensus target price of $162.67.

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.