Garmin Ltd. (NYSE:GRMN) Shares Sold by Aigen Investment Management LP

Aigen Investment Management LP lowered its stake in Garmin Ltd. (NYSE:GRMN - Free Report) by 48.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,081 shares of the scientific and technical instruments company's stock after selling 4,843 shares during the period. Aigen Investment Management LP's holdings in Garmin were worth $894,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Sumitomo Life Insurance Co. raised its holdings in shares of Garmin by 0.9% in the third quarter. Sumitomo Life Insurance Co. now owns 6,686 shares of the scientific and technical instruments company's stock worth $1,177,000 after buying an additional 61 shares during the last quarter. Elo Mutual Pension Insurance Co raised its holdings in shares of Garmin by 0.5% in the second quarter. Elo Mutual Pension Insurance Co now owns 14,056 shares of the scientific and technical instruments company's stock worth $2,290,000 after buying an additional 70 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its holdings in shares of Garmin by 3.3% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 2,309 shares of the scientific and technical instruments company's stock worth $344,000 after buying an additional 73 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Garmin by 2.6% in the second quarter. UMB Bank n.a. now owns 2,879 shares of the scientific and technical instruments company's stock worth $469,000 after buying an additional 74 shares during the last quarter. Finally, Buckingham Capital Management Inc. raised its holdings in shares of Garmin by 0.7% in the third quarter. Buckingham Capital Management Inc. now owns 11,715 shares of the scientific and technical instruments company's stock worth $2,062,000 after buying an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 73.41% of the company's stock.

Garmin Price Performance

GRMN traded down $0.60 on Wednesday, reaching $212.98. 781,778 shares of the company's stock were exchanged, compared to its average volume of 860,102. The stock has a market cap of $40.90 billion, a PE ratio of 27.12, a P/E/G ratio of 3.25 and a beta of 0.97. The stock's fifty day moving average price is $178.14 and its 200-day moving average price is $171.31. Garmin Ltd. has a twelve month low of $117.30 and a twelve month high of $214.83.

Garmin (NYSE:GRMN - Get Free Report) last posted its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.53. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. Garmin's revenue was up 24.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.41 EPS. As a group, research analysts predict that Garmin Ltd. will post 6.88 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Sean Biddlecombe sold 587 shares of the business's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $210.10, for a total value of $123,328.70. Following the sale, the director now directly owns 6,147 shares of the company's stock, valued at approximately $1,291,484.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Sean Biddlecombe sold 587 shares of the company's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $210.10, for a total transaction of $123,328.70. Following the sale, the director now directly owns 6,147 shares of the company's stock, valued at $1,291,484.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Philip Straub sold 2,750 shares of the company's stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $181.46, for a total transaction of $499,015.00. Following the sale, the director now directly owns 88,622 shares in the company, valued at approximately $16,081,348.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,479 shares of company stock valued at $2,419,502. Company insiders own 19.54% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GRMN. Morgan Stanley cut shares of Garmin from an "equal weight" rating to an "underweight" rating and reduced their target price for the stock from $155.00 to $138.00 in a report on Monday, October 7th. StockNews.com cut shares of Garmin from a "buy" rating to a "hold" rating in a report on Thursday, September 12th. Barclays raised their target price on shares of Garmin from $133.00 to $158.00 and gave the stock an "underweight" rating in a report on Friday, November 1st. Finally, Tigress Financial raised their target price 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. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently 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.