Barclays PLC Sells 33,949 Shares of Garmin Ltd. (NYSE:GRMN)

Barclays PLC reduced its holdings in Garmin Ltd. (NYSE:GRMN - Free Report) by 8.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 369,339 shares of the scientific and technical instruments company's stock after selling 33,949 shares during the period. Barclays PLC owned approximately 0.19% of Garmin worth $65,015,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Sumitomo Life Insurance Co. increased its position in Garmin by 0.9% during the third quarter. Sumitomo Life Insurance Co. now owns 6,686 shares of the scientific and technical instruments company's stock worth $1,177,000 after acquiring an additional 61 shares during the period. Elo Mutual Pension Insurance Co increased its holdings in shares of Garmin by 0.5% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 14,056 shares of the scientific and technical instruments company's stock worth $2,290,000 after purchasing an additional 70 shares during the period. UMB Bank n.a. increased its holdings in shares of Garmin by 2.6% during the 2nd quarter. UMB Bank n.a. now owns 2,879 shares of the scientific and technical instruments company's stock worth $469,000 after purchasing an additional 74 shares during the period. Buckingham Capital Management Inc. raised its position in shares of Garmin by 0.7% during the third quarter. Buckingham Capital Management Inc. now owns 11,715 shares of the scientific and technical instruments company's stock valued at $2,062,000 after buying an additional 80 shares during the last quarter. Finally, Brighton Jones LLC lifted its stake in shares of Garmin by 5.8% in the second quarter. Brighton Jones LLC now owns 1,522 shares of the scientific and technical instruments company's stock valued at $248,000 after buying an additional 83 shares during the period. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Garmin news, Director Sean Biddlecombe sold 587 shares of the 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 owns 6,147 shares of the company's stock, valued at $1,291,484.70. This represents a 8.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 19.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

GRMN has been the subject of several recent research reports. StockNews.com cut Garmin from a "buy" rating to a "hold" rating in a report on Thursday, September 12th. Tigress Financial upped their target price on Garmin from $210.00 to $215.00 and gave the company a "strong-buy" rating in a research note on Thursday, September 19th. Morgan Stanley downgraded 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 note on Monday, October 7th. Finally, Barclays increased their price objective 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. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $162.67.

Garmin Stock Down 2.2 %

Garmin stock traded down $4.80 during mid-day trading on Thursday, hitting $215.97. 605,488 shares of the company were exchanged, compared to its average volume of 857,602. The company has a market capitalization of $41.47 billion, a PE ratio of 27.41, a price-to-earnings-growth ratio of 1.44 and a beta of 0.97. The business has a fifty day moving average of $194.68 and a 200 day moving average of $178.51. Garmin Ltd. has a 1-year low of $119.15 and a 1-year high of $222.97.

Garmin (NYSE:GRMN - Get Free Report) last announced its 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. The business had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The firm's revenue for the quarter was up 24.1% on a year-over-year basis. During the same quarter last year, the company posted $1.41 EPS. Research analysts expect that Garmin Ltd. will post 7.01 earnings per share 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.