Garmin Ltd. (NYSE:GRMN) Stock Position Lowered by Commerce Bank

Commerce Bank lowered its position in Garmin Ltd. (NYSE:GRMN - Free Report) by 1.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 156,767 shares of the scientific and technical instruments company's stock after selling 2,998 shares during the quarter. Commerce Bank owned about 0.08% of Garmin worth $27,596,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. bought a new stake in Garmin in the second quarter worth $31,000. Family Firm Inc. purchased a new position in shares of Garmin in the second quarter worth approximately $35,000. Benjamin Edwards Inc. boosted its holdings in shares of Garmin by 73.3% in the second quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company's stock worth $38,000 after buying an additional 99 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Garmin in the second quarter worth approximately $46,000. Finally, West Oak Capital LLC bought a new stake in Garmin during the 2nd quarter worth approximately $53,000. 73.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GRMN has been the topic of a number of recent analyst reports. StockNews.com cut shares of Garmin from a "buy" rating to a "hold" rating in a research note on Thursday, September 12th. Barclays lifted their price objective on shares of Garmin from $133.00 to $158.00 and gave the company an "underweight" rating in a research report on Friday, November 1st. Morgan Stanley cut shares of Garmin from an "equal weight" rating to an "underweight" rating and reduced their price target for the stock from $155.00 to $138.00 in a research report on Monday, October 7th. Finally, Tigress Financial boosted their price target 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. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $162.67.

Garmin Stock Performance

NYSE GRMN traded up $3.60 on Thursday, hitting $209.19. 340,339 shares of the stock were exchanged, compared to its average volume of 858,708. The firm has a market capitalization of $40.17 billion, a P/E ratio of 26.09, a P/E/G ratio of 3.16 and a beta of 0.97. Garmin Ltd. has a 52-week low of $119.15 and a 52-week high of $215.55. The stock has a fifty day moving average price of $181.49 and a two-hundred day moving average price of $173.40.

Garmin (NYSE:GRMN - Get Free Report) last announced its quarterly 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 firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The firm's quarterly revenue was up 24.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.41 earnings per share. Sell-side analysts expect that Garmin Ltd. will post 6.88 earnings per share for the current fiscal year.

Insider Buying and Selling at Garmin

In other news, Director Philip Straub sold 2,750 shares of the business's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $181.46, for a total transaction of $499,015.00. Following the transaction, the director now directly owns 88,622 shares in the company, valued at $16,081,348.12. The trade was a 3.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value of $123,328.70. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,424 shares of company stock worth $638,159 over the last three months. Insiders own 19.54% of the company's stock.

Garmin Company 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.