Dai ichi Life Insurance Company Ltd Has $3.22 Million Stock Holdings in Garmin Ltd. (NYSE:GRMN)

Dai ichi Life Insurance Company Ltd increased its holdings in Garmin Ltd. (NYSE:GRMN - Free Report) by 64.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,289 shares of the scientific and technical instruments company's stock after acquiring an additional 7,154 shares during the quarter. Dai ichi Life Insurance Company Ltd's holdings in Garmin were worth $3,219,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its holdings in shares of Garmin by 0.3% during the third quarter. The Manufacturers Life Insurance Company now owns 109,361 shares of the scientific and technical instruments company's stock valued at $19,251,000 after purchasing an additional 366 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Garmin by 12.6% during the third quarter. Daiwa Securities Group Inc. now owns 18,877 shares of the scientific and technical instruments company's stock valued at $3,323,000 after purchasing an additional 2,114 shares during the last quarter. Larson Financial Group LLC grew its holdings 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 valued at $33,000 after purchasing an additional 162 shares during the last quarter. WESPAC Advisors LLC grew its holdings in shares of Garmin by 4.3% during the third quarter. WESPAC Advisors LLC now owns 5,206 shares of the scientific and technical instruments company's stock valued at $916,000 after purchasing an additional 215 shares during the last quarter. Finally, Cerity Partners LLC grew its holdings in shares of Garmin by 53.0% during the third quarter. Cerity Partners LLC now owns 43,035 shares of the scientific and technical instruments company's stock valued at $7,575,000 after purchasing an additional 14,912 shares during the last quarter. 73.41% of the stock is owned by institutional investors.

Garmin Stock Performance

Shares of NYSE GRMN traded down $0.63 during mid-day trading on Wednesday, reaching $212.22. The company had a trading volume of 65,451 shares, compared to its average volume of 859,920. Garmin Ltd. has a twelve month low of $119.15 and a twelve month high of $216.44. The stock has a market capitalization of $40.75 billion, a PE ratio of 27.01, a price-to-earnings-growth ratio of 1.42 and a beta of 0.97. The stock's 50 day moving average is $184.43 and its 200-day moving average is $174.63.

Garmin (NYSE:GRMN - Get Free Report) last posted 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 firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the prior year, the business posted $1.41 earnings per share. The business's quarterly revenue was up 24.1% on a year-over-year basis. On average, sell-side analysts anticipate that Garmin Ltd. will post 7.01 EPS for the current year.

Analysts Set New Price Targets

GRMN has been the subject of a number of recent analyst reports. Morgan Stanley lowered Garmin from an "equal weight" rating to an "underweight" rating and decreased their price objective for the stock from $155.00 to $138.00 in a report on Monday, October 7th. StockNews.com lowered Garmin from a "buy" rating to a "hold" rating in a report on Thursday, September 12th. Tigress Financial upped their target price on Garmin from $210.00 to $215.00 and gave the stock a "strong-buy" rating in a research report on Thursday, September 19th. Finally, Barclays upped their target price on Garmin from $133.00 to $158.00 and gave the stock an "underweight" rating in a research report on Friday, November 1st. Three equities research 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 stock. According to MarketBeat.com, Garmin presently has a consensus rating of "Hold" and a consensus price target of $162.67.

Insider Buying and Selling at Garmin

In other Garmin news, Director Sean Biddlecombe sold 587 shares of the firm's stock in a transaction dated Thursday, November 7th. The shares were 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 owns 6,147 shares in the company, valued at $1,291,484.70. This trade represents a 8.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Philip Straub sold 2,750 shares of the firm's stock in a transaction dated Friday, August 30th. The stock was 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 represents a 3.01 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.