Disciplined Growth Investors Inc. MN Acquires 48,645 Shares of Garmin Ltd. (NYSE:GRMN)

Disciplined Growth Investors Inc. MN grew its position in Garmin Ltd. (NYSE:GRMN - Free Report) by 3.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,401,004 shares of the scientific and technical instruments company's stock after purchasing an additional 48,645 shares during the quarter. Garmin makes up about 4.7% of Disciplined Growth Investors Inc. MN's investment portfolio, making the stock its 4th largest holding. Disciplined Growth Investors Inc. MN owned approximately 0.73% of Garmin worth $246,619,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC boosted its position in shares of Garmin by 40.8% during the third quarter. FMR LLC now owns 3,775,154 shares of the scientific and technical instruments company's stock worth $664,540,000 after acquiring an additional 1,093,219 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Garmin by 136.7% during the second quarter. AQR Capital Management LLC now owns 711,849 shares of the scientific and technical instruments company's stock valued at $115,177,000 after purchasing an additional 411,084 shares in the last quarter. Montrusco Bolton Investments Inc. purchased a new position in Garmin during the third quarter valued at approximately $53,252,000. Renaissance Technologies LLC bought a new position in Garmin in the second quarter worth approximately $45,999,000. Finally, Marshall Wace LLP lifted its holdings in Garmin by 34.0% during the second quarter. Marshall Wace LLP now owns 1,098,443 shares of the scientific and technical instruments company's stock worth $178,958,000 after buying an additional 278,990 shares during the period. 81.60% of the stock is currently owned by institutional investors.

Garmin Stock Performance

GRMN stock traded up $0.46 during midday trading on Tuesday, reaching $219.79. The stock had a trading volume of 465,134 shares, compared to its average volume of 855,731. The firm has a fifty day simple moving average of $191.84 and a two-hundred day simple moving average of $177.56. The stock has a market cap of $42.20 billion, a PE ratio of 27.83, a P/E/G ratio of 1.44 and a beta of 0.97. Garmin Ltd. has a 52-week low of $119.15 and a 52-week high of $220.50.

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 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 for the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the company earned $1.41 earnings per share. The firm's revenue was up 24.1% on a year-over-year basis. On average, sell-side analysts predict that Garmin Ltd. will post 7.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. StockNews.com cut Garmin from a "buy" rating to a "hold" rating in a research note on Thursday, September 12th. Tigress Financial raised their price target on shares of Garmin from $210.00 to $215.00 and gave the company a "strong-buy" rating in a report on Thursday, September 19th. Barclays increased their target price 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. Finally, Morgan Stanley lowered shares of Garmin from an "equal weight" rating to an "underweight" rating and cut their price target for the stock from $155.00 to $138.00 in a report on Monday, October 7th. Three research 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. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $162.67.

Insider Transactions at Garmin

In other Garmin news, Director Sean Biddlecombe sold 587 shares of the 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 transaction, the director now owns 6,147 shares in the company, valued at approximately $1,291,484.70. This represents a 8.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 19.54% of the company's stock.

About Garmin

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.