Crossmark Global Holdings Inc. Grows Stake in Garmin Ltd. (NYSE:GRMN)

Crossmark Global Holdings Inc. lifted its position in Garmin Ltd. (NYSE:GRMN - Free Report) by 14.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 56,375 shares of the scientific and technical instruments company's stock after purchasing an additional 7,236 shares during the period. Crossmark Global Holdings Inc.'s holdings in Garmin were worth $9,924,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Garmin during the 1st quarter worth about $253,000. Empowered Funds LLC lifted its position in shares of Garmin by 27.1% during the 1st quarter. Empowered Funds LLC now owns 15,184 shares of the scientific and technical instruments company's stock worth $2,260,000 after purchasing an additional 3,235 shares during the last quarter. Forsta AP Fonden lifted its position in shares of Garmin by 9.8% during the 1st quarter. Forsta AP Fonden now owns 27,000 shares of the scientific and technical instruments company's stock worth $4,019,000 after purchasing an additional 2,400 shares during the last quarter. QRG Capital Management Inc. boosted its stake in Garmin by 8.3% in the first quarter. QRG Capital Management Inc. now owns 59,664 shares of the scientific and technical instruments company's stock valued at $8,882,000 after acquiring an additional 4,579 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Garmin by 4.4% in the first quarter. Russell Investments Group Ltd. now owns 178,073 shares of the scientific and technical instruments company's stock valued at $26,500,000 after acquiring an additional 7,553 shares in the last quarter. Hedge funds and other institutional investors own 73.41% of the company's stock.

Garmin Stock Up 0.0 %

Shares of NYSE:GRMN traded up $0.09 during midday trading on Monday, hitting $212.81. The stock had a trading volume of 807,537 shares, compared to its average volume of 859,052. The business's 50-day simple moving average is $176.88 and its 200-day simple moving average is $170.32. Garmin Ltd. has a 12 month low of $116.01 and a 12 month high of $214.83. The company has a market cap of $40.86 billion, a P/E ratio of 27.08, a PEG ratio of 3.23 and a beta of 0.97.

Garmin (NYSE:GRMN - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 EPS for the quarter, beating analysts' consensus estimates of $1.46 by $0.53. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.44 billion. Garmin had a return on equity of 17.99% and a net margin of 25.48%. Garmin's revenue for the quarter was up 24.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.41 earnings per share. As a group, equities analysts predict that Garmin Ltd. will post 6.89 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Cheng-Wei Wang sold 10,055 shares of Garmin stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total value of $1,781,343.80. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Garmin news, insider Cheng-Wei Wang sold 10,055 shares of Garmin stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total value of $1,781,343.80. Following the transaction, the insider now directly owns 40,965 shares of the company's stock, valued at $7,257,359.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sean Biddlecombe sold 587 shares of the company's stock in a transaction 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 completion of the sale, the director now directly owns 6,147 shares in the company, valued at approximately $1,291,484.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,479 shares of company stock worth $2,419,502 in the last ninety days. Corporate insiders own 19.54% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GRMN. Tigress Financial increased their price target on shares of Garmin from $210.00 to $215.00 and gave the stock a "strong-buy" rating in a report on Thursday, September 19th. Morgan Stanley downgraded shares of Garmin from an "equal weight" rating to an "underweight" rating and cut their target price for the company from $155.00 to $138.00 in a research note on Monday, October 7th. Barclays lifted their price target on shares of Garmin from $133.00 to $158.00 and gave the stock an "underweight" rating in a research note on Friday, November 1st. Finally, StockNews.com lowered shares of Garmin from a "buy" rating to a "hold" rating in a report on Thursday, September 12th. Three investment 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 stock. Based on data from MarketBeat.com, Garmin presently has a consensus rating of "Hold" and a consensus target price of $162.67.

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.