Centiva Capital LP cut its position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 58.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,434 shares of the scientific and technical instruments company's stock after selling 3,454 shares during the period. Centiva Capital LP's holdings in Garmin were worth $428,000 as of its most recent SEC filing.
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. purchased a new stake in shares of Garmin during the 2nd quarter worth about $31,000. Larson Financial Group LLC raised its stake in shares of Garmin by 578.6% during the 3rd quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company's stock worth $33,000 after purchasing an additional 162 shares in the last quarter. Family Firm Inc. acquired a new position in shares of Garmin during the 2nd quarter valued at about $35,000. Benjamin Edwards Inc. increased its holdings in shares of Garmin by 73.3% during the 2nd 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 last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of Garmin during the 2nd quarter valued at about $46,000. 81.60% of the stock is owned by hedge funds and other institutional investors.
Garmin Trading Up 0.3 %
GRMN traded up $0.70 during midday trading on Monday, reaching $219.28. The company's stock had a trading volume of 846,742 shares, compared to its average volume of 857,642. The stock has a market cap of $42.11 billion, a P/E ratio of 27.83, a PEG ratio of 1.44 and a beta of 0.97. The company has a fifty day simple moving average of $191.84 and a 200 day simple moving average of $177.56. Garmin Ltd. has a twelve month low of $119.15 and a twelve month high of $220.50.
Garmin (NYSE:GRMN - Get Free Report) last released 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. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter last year, the firm posted $1.41 EPS. The company's revenue was up 24.1% on a year-over-year basis. Sell-side analysts expect that Garmin Ltd. will post 7.01 earnings per share for the current year.
Analysts Set New Price Targets
A number of research analysts have recently commented on the company. Tigress Financial increased their price objective on Garmin from $210.00 to $215.00 and gave the company a "strong-buy" rating in a report on Thursday, September 19th. StockNews.com lowered Garmin from a "buy" rating to a "hold" rating in a report on Thursday, September 12th. Morgan Stanley lowered Garmin from an "equal weight" rating to an "underweight" rating and lowered their price objective for the company from $155.00 to $138.00 in a report on Monday, October 7th. Finally, Barclays increased their price objective on Garmin from $133.00 to $158.00 and gave the company an "underweight" rating in a report on Friday, November 1st. 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.com, the company currently has an average rating of "Hold" and an average target price of $162.67.
Read Our Latest Research Report on Garmin
Insider Transactions at Garmin
In other news, Director Sean Biddlecombe sold 587 shares of Garmin stock in a transaction that occurred on Thursday, November 7th. The stock was 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 approximately $1,291,484.70. This trade represents a 8.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.54% of the stock is owned by insiders.
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.
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