Garmin Ltd. (NYSE:GRMN) Shares Sold by Landscape Capital Management L.L.C.

Landscape Capital Management L.L.C. trimmed its position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 16.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,776 shares of the scientific and technical instruments company's stock after selling 4,168 shares during the period. Landscape Capital Management L.L.C.'s holdings in Garmin were worth $3,833,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. King Luther Capital Management Corp boosted its stake in shares of Garmin by 1.6% during the 3rd quarter. King Luther Capital Management Corp now owns 8,973 shares of the scientific and technical instruments company's stock valued at $1,580,000 after buying an additional 141 shares during the last quarter. Moran Wealth Management LLC raised its holdings in Garmin by 64.9% in the third quarter. Moran Wealth Management LLC now owns 239,084 shares of the scientific and technical instruments company's stock valued at $42,086,000 after acquiring an additional 94,121 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in Garmin by 0.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 124,434 shares of the scientific and technical instruments company's stock valued at $21,904,000 after acquiring an additional 614 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Garmin by 24.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 17,529 shares of the scientific and technical instruments company's stock worth $3,086,000 after purchasing an additional 3,415 shares during the last quarter. Finally, Strategy Asset Managers LLC acquired a new stake in shares of Garmin in the 3rd quarter valued at about $470,000. Hedge funds and other institutional investors own 73.41% of the company's stock.

Garmin Trading Down 0.9 %

NYSE GRMN opened at $205.57 on Thursday. The company has a 50-day moving average price of $181.03 and a two-hundred day moving average price of $173.17. The stock has a market cap of $39.47 billion, a price-to-earnings ratio of 26.09, a price-to-earnings-growth ratio of 3.16 and a beta of 0.97. Garmin Ltd. has a 52 week low of $119.15 and a 52 week high of $215.55.

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, beating analysts' consensus estimates 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 return on equity of 17.99% and a net margin of 25.48%. The company's quarterly revenue was up 24.1% compared to the same quarter last year. During the same period last year, the company earned $1.41 earnings per share. As a group, equities research analysts expect that Garmin Ltd. will post 6.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Barclays increased their target price on Garmin from $133.00 to $158.00 and gave the stock an "underweight" rating in a report on Friday, November 1st. Tigress Financial lifted their price objective 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 cut shares of Garmin from an "equal weight" rating to an "underweight" rating and dropped their target price for the stock from $155.00 to $138.00 in a report on Monday, October 7th. Finally, StockNews.com downgraded shares of Garmin from a "buy" rating to a "hold" rating in a research report on Thursday, September 12th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $162.67.

Insider Activity

In related news, Director Sean Biddlecombe sold 587 shares of Garmin stock in a transaction dated 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 directly owns 6,147 shares of the company's stock, valued at $1,291,484.70. The trade was a 8.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Philip Straub sold 2,750 shares of the company's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $181.46, for a total transaction of $499,015.00. Following the completion of the sale, the director now directly owns 88,622 shares of the company's stock, valued at $16,081,348.12. The trade was a 3.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,424 shares of company stock worth $638,159 over the last three months. Corporate insiders own 19.54% of the company's stock.

Garmin 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.

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