Garmin Ltd. (NYSE:GRMN) Position Lowered by M&G Plc

M&G PLC lessened its holdings in Garmin Ltd. (NYSE:GRMN - Free Report) by 7.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 214,572 shares of the scientific and technical instruments company's stock after selling 18,473 shares during the quarter. M&G PLC owned 0.11% of Garmin worth $37,765,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in GRMN. Sumitomo Life Insurance Co. grew its holdings in shares of Garmin by 0.9% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 6,686 shares of the scientific and technical instruments company's stock worth $1,177,000 after acquiring an additional 61 shares during the period. Elo Mutual Pension Insurance Co lifted its stake in Garmin by 0.5% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 14,056 shares of the scientific and technical instruments company's stock valued at $2,290,000 after buying an additional 70 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in Garmin by 3.3% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 2,309 shares of the scientific and technical instruments company's stock valued at $344,000 after buying an additional 73 shares in the last quarter. UMB Bank n.a. lifted its stake in Garmin by 2.6% in the 2nd quarter. UMB Bank n.a. now owns 2,879 shares of the scientific and technical instruments company's stock valued at $469,000 after buying an additional 74 shares in the last quarter. Finally, Brighton Jones LLC lifted its stake in Garmin by 5.8% in the 2nd quarter. Brighton Jones LLC now owns 1,522 shares of the scientific and technical instruments company's stock valued at $248,000 after buying an additional 83 shares in the last quarter. Hedge funds and other institutional investors own 73.41% of the company's stock.

Garmin Stock Up 0.3 %

Shares of GRMN stock traded up $0.67 on Thursday, reaching $210.34. 903,317 shares of the stock were exchanged, compared to its average volume of 857,974. The stock has a market cap of $40.39 billion, a P/E ratio of 26.61, a price-to-earnings-growth ratio of 3.22 and a beta of 0.97. The firm has a 50 day moving average of $175.69 and a two-hundred day moving average of $169.15. Garmin Ltd. has a 1-year low of $114.76 and a 1-year high of $212.27.

Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 EPS for the quarter, topping analysts' consensus estimates of $1.46 by $0.53. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.44 billion. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The business's revenue for the quarter was up 24.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.41 EPS. On average, equities research analysts predict that Garmin Ltd. will post 6.52 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on GRMN shares. Tigress Financial upped their target price on Garmin from $210.00 to $215.00 and gave the company a "strong-buy" rating in a research note on Thursday, September 19th. Barclays increased their price target on Garmin from $133.00 to $158.00 and gave the stock an "underweight" rating in a research note on Friday, November 1st. Morgan Stanley lowered Garmin from an "equal weight" rating to an "underweight" rating and reduced their price target for the stock from $155.00 to $138.00 in a research note on Monday, October 7th. Finally, StockNews.com lowered Garmin from a "buy" rating to a "hold" rating in a research note on Thursday, September 12th. Three investment 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's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $162.67.

Insider Activity at Garmin

In related news, insider Cheng-Wei Wang sold 10,055 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total value of $1,781,343.80. Following the completion of the sale, the insider now directly owns 40,965 shares in the company, valued at approximately $7,257,359.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, 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 completion of the sale, the director now directly owns 88,622 shares in the company, valued at $16,081,348.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Cheng-Wei Wang sold 10,055 shares of the firm's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total value of $1,781,343.80. Following the sale, the insider now owns 40,965 shares of the company's stock, valued at $7,257,359.40. This represents 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 sold 13,479 shares of company stock worth $2,419,502. 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.