Free Trial

Board of the Pension Protection Fund Buys Shares of 5,000 Garmin Ltd. (NYSE:GRMN)

Garmin logo with Computer and Technology background

Board of the Pension Protection Fund bought a new stake in Garmin Ltd. (NYSE:GRMN - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,000 shares of the scientific and technical instruments company's stock, valued at approximately $1,031,000. Garmin accounts for about 1.2% of Board of the Pension Protection Fund's holdings, making the stock its 19th biggest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of 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 stake in Garmin by 136.7% in the second quarter. AQR Capital Management LLC now owns 711,849 shares of the scientific and technical instruments company's stock valued at $115,177,000 after buying an additional 411,084 shares in the last quarter. Montrusco Bolton Investments Inc. acquired a new position in shares of Garmin in the third quarter valued at approximately $53,252,000. Renaissance Technologies LLC acquired a new position in shares of Garmin in the second quarter valued at approximately $45,999,000. Finally, Marshall Wace LLP increased 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 acquiring an additional 278,990 shares in the last quarter. Institutional investors own 81.60% of the company's stock.

Garmin Price Performance

GRMN stock traded up $0.97 during mid-day trading on Wednesday, reaching $213.24. The company had a trading volume of 700,948 shares, compared to its average volume of 701,249. Garmin Ltd. has a 52 week low of $119.15 and a 52 week high of $222.97. The company has a market capitalization of $40.95 billion, a price-to-earnings ratio of 27.06, a PEG ratio of 1.42 and a beta of 0.98. The stock has a 50 day simple moving average of $211.32 and a two-hundred day simple moving average of $186.55.

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 for the quarter, topping analysts' consensus estimates of $1.46 by $0.53. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the previous year, the company earned $1.41 earnings per share. The firm's revenue for the quarter was up 24.1% on a year-over-year basis. On average, equities analysts predict that Garmin Ltd. will post 7.01 EPS for the current year.

Insider Buying and Selling

In other news, Director Sean Biddlecombe sold 587 shares of the firm'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 completion of the sale, the director now owns 6,147 shares in the company, valued at approximately $1,291,484.70. This trade represents a 8.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Douglas G. Boessen sold 1,761 shares of the company's 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 completion of the transaction, the chief financial officer now owns 27,612 shares in the company, valued at approximately $5,743,019.88. This trade represents a 6.00 % decrease in their position. The disclosure for this sale can be found here. 19.54% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GRMN. Tigress Financial upped their target price on shares of Garmin from $215.00 to $265.00 and gave the stock a "strong-buy" rating in a research note on Monday, December 16th. Barclays upped their price objective on Garmin from $133.00 to $158.00 and gave the stock an "underweight" rating in a research report on Friday, November 1st. Finally, Morgan Stanley cut 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. Three 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. Based on data from MarketBeat, Garmin presently has a consensus rating of "Hold" and an average price target of $171.00.

Get Our Latest Stock Analysis on Garmin

Garmin Company 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.

Recommended Stories

Institutional Ownership by Quarter for Garmin (NYSE:GRMN)

Should You Invest $1,000 in Garmin Right Now?

Before you consider Garmin, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Garmin wasn't on the list.

While Garmin currently has a "Reduce" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Elon Musk's Next Move Cover

Wondering when you'll finally be able to invest in SpaceX, StarLink, or The Boring Company? Click the link below to learn when Elon Musk will let these companies finally IPO.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Crypto Boom 2025: Bitcoin’s Rise and Trump’s Impact on the Market
Goldman Sachs’ 2025 Market Outlook: Top 3 Stock Picks
7 Stocks to Benefit From Trump’s Tariffs in 2025

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines