Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 559.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 150,419 shares of the scientific and technical instruments company's stock after purchasing an additional 127,613 shares during the period. Caisse DE Depot ET Placement DU Quebec owned 0.08% of Garmin worth $26,478,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. bought a new position in Garmin in the 2nd quarter worth approximately $31,000. Larson Financial Group LLC raised its position in shares of Garmin by 578.6% during the third quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company's stock worth $33,000 after acquiring an additional 162 shares during the last quarter. Family Firm Inc. acquired a new position in shares of Garmin during the second quarter valued at $35,000. Benjamin Edwards Inc. lifted its stake in shares of Garmin by 73.3% during the second quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company's stock valued at $38,000 after acquiring an additional 99 shares during the period. Finally, Headlands Technologies LLC bought a new position in Garmin in the second quarter valued at about $46,000. 73.41% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
GRMN has been the topic of a number of research reports. StockNews.com downgraded shares of Garmin from a "buy" rating to a "hold" rating in a research report on Thursday, September 12th. Barclays increased their price objective on shares of Garmin from $133.00 to $158.00 and gave the company an "underweight" rating in a report on Friday, November 1st. Morgan Stanley lowered shares of Garmin from an "equal weight" rating to an "underweight" rating and lowered their target price for the stock from $155.00 to $138.00 in a report on Monday, October 7th. Finally, Tigress Financial increased their price target on Garmin from $210.00 to $215.00 and gave the company a "strong-buy" rating in a research note on Thursday, September 19th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Garmin currently has an average rating of "Hold" and a consensus target price of $162.67.
View Our Latest Stock Analysis on Garmin
Insider Activity
In related news, Director Sean Biddlecombe sold 587 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $210.10, for a total transaction of $123,328.70. Following the completion of the transaction, the director now directly owns 6,147 shares in the company, valued at approximately $1,291,484.70. This trade represents a 8.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 19.54% of the stock is currently owned by company insiders.
Garmin Price Performance
GRMN traded up $0.69 during mid-day trading on Monday, hitting $213.29. The stock had a trading volume of 903,082 shares, compared to its average volume of 860,460. The stock's fifty day simple moving average is $187.67 and its 200-day simple moving average is $175.83. The firm has a market capitalization of $40.96 billion, a price-to-earnings ratio of 27.07, a price-to-earnings-growth ratio of 1.40 and a beta of 0.97. Garmin Ltd. has a 1-year low of $119.15 and a 1-year high of $216.44.
Garmin (NYSE:GRMN - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the business posted $1.41 EPS. The firm's revenue was up 24.1% compared to the same quarter last year. As a group, research analysts expect that Garmin Ltd. will post 7.01 earnings per share for the current fiscal year.
About Garmin
(
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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