National Bank of Canada FI Purchases 2,883 Shares of Garmin Ltd. (NYSE:GRMN)

National Bank of Canada FI boosted its holdings in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 22.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,584 shares of the scientific and technical instruments company's stock after purchasing an additional 2,883 shares during the quarter. National Bank of Canada FI's holdings in Garmin were worth $2,743,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. University of Texas Texas AM Investment Management Co. bought a new position in Garmin during the second quarter valued at $31,000. Larson Financial Group LLC increased its position in Garmin by 578.6% during the 3rd 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 period. Family Firm Inc. bought a new position in Garmin in the second quarter worth approximately $35,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Garmin during the 3rd quarter worth $39,000. Finally, Benjamin Edwards Inc. lifted its position in shares of Garmin by 73.3% during the second quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company's stock valued at $38,000 after buying an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 81.60% of the company's stock.

Garmin Stock Up 0.1 %

GRMN stock traded up $0.18 during mid-day trading on Friday, reaching $215.40. The company had a trading volume of 731,681 shares, compared to its average volume of 857,080. The stock's 50-day simple moving average is $195.59 and its two-hundred day simple moving average is $178.87. The stock has a market capitalization of $41.36 billion, a P/E ratio of 27.34, a P/E/G ratio of 1.46 and a beta of 0.97. Garmin Ltd. has a one year low of $119.15 and a one year high of $222.97.

Garmin (NYSE:GRMN - Get Free Report) last issued its quarterly 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. The firm had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. Garmin's revenue for the quarter was up 24.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.41 earnings per share. On average, research analysts forecast that Garmin Ltd. will post 7.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on GRMN shares. 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 shares of Garmin from $210.00 to $215.00 and gave the company a "strong-buy" rating in a research report on Thursday, September 19th. Morgan Stanley cut Garmin from an "equal weight" rating to an "underweight" rating and reduced their price objective for the company from $155.00 to $138.00 in a research note on Monday, October 7th. Finally, Barclays boosted their price target 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. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $162.67.

Insider Activity at Garmin

In other 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 transaction, the director now directly 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 Securities & Exchange Commission, which is accessible through this link. 19.54% of the stock is owned by company insiders.

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.