Cozad Asset Management Inc. Sells 3,011 Shares of Garmin Ltd. (NYSE:GRMN)

Cozad Asset Management Inc. decreased its holdings in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 12.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,703 shares of the scientific and technical instruments company's stock after selling 3,011 shares during the period. Cozad Asset Management Inc.'s holdings in Garmin were worth $3,644,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of GRMN. AQR Capital Management LLC grew its position in Garmin by 136.7% in the 2nd quarter. AQR Capital Management LLC now owns 711,849 shares of the scientific and technical instruments company's stock worth $115,177,000 after purchasing an additional 411,084 shares during the last quarter. Renaissance Technologies LLC bought a new position in Garmin in the 2nd quarter worth approximately $45,999,000. Marshall Wace LLP increased its position in Garmin by 34.0% in the 2nd quarter. Marshall Wace LLP now owns 1,098,443 shares of the scientific and technical instruments company's stock valued at $178,958,000 after acquiring an additional 278,990 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in Garmin by 123.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 486,281 shares of the scientific and technical instruments company's stock valued at $85,600,000 after acquiring an additional 268,996 shares in the last quarter. Finally, M&G Plc bought a new stake in Garmin during the 1st quarter valued at $38,727,000. 73.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Philip Straub sold 2,750 shares of the firm's stock in a transaction that occurred on 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 owns 88,622 shares of the company's stock, valued at approximately $16,081,348.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Cheng-Wei Wang sold 10,055 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the transaction, the insider now owns 40,965 shares of the company's stock, valued at approximately $7,257,359.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Philip Straub sold 2,750 shares of Garmin stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $181.46, for a total transaction of $499,015.00. Following the completion of the transaction, the director now directly owns 88,622 shares in the company, valued at approximately $16,081,348.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,892 shares of company stock worth $2,296,174. 19.54% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GRMN has been the topic of a number of research analyst reports. StockNews.com lowered Garmin from a "buy" rating to a "hold" rating in a report on Thursday, September 12th. Tigress Financial raised their target price on shares of 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 cut shares of Garmin from an "equal weight" rating to an "underweight" rating and lowered their target price for the company from $155.00 to $138.00 in a research note on Monday, October 7th. Finally, Barclays raised their target price 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 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 company. Based on data from MarketBeat, Garmin has a consensus rating of "Hold" and a consensus price target of $162.67.

Garmin Trading Up 0.3 %

Shares of GRMN traded up $0.63 during midday trading on Thursday, hitting $210.30. The stock had a trading volume of 429,950 shares, compared to its average volume of 855,709. Garmin Ltd. has a fifty-two week low of $114.76 and a fifty-two week high of $212.28. The business has a 50-day simple moving average of $175.69 and a two-hundred day simple moving average of $169.15. The firm has a market cap of $40.38 billion, a P/E ratio of 26.61, a price-to-earnings-growth ratio of 3.22 and a beta of 0.97.

Garmin (NYSE:GRMN - Get Free Report) last announced its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 EPS for the quarter, topping the consensus estimate of $1.46 by $0.53. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The company had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.44 billion. During the same period last year, the company posted $1.41 earnings per share. The business's revenue for the quarter was up 24.1% on a year-over-year basis. On average, analysts expect that Garmin Ltd. will post 6.52 earnings per share for the current fiscal 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.