Garmin Ltd. (NYSE:GRMN) Stock Position Decreased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 6.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 744,917 shares of the scientific and technical instruments company's stock after selling 48,997 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.39% of Garmin worth $131,128,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Garmin in the 1st quarter valued at $253,000. Avantax Advisory Services Inc. boosted its holdings in shares of Garmin by 5.9% in the 1st quarter. Avantax Advisory Services Inc. now owns 2,314 shares of the scientific and technical instruments company's stock valued at $344,000 after purchasing an additional 128 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Garmin by 122.3% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 19,134 shares of the scientific and technical instruments company's stock valued at $2,848,000 after purchasing an additional 10,526 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of 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 purchasing an additional 73 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board boosted its holdings in shares of Garmin by 5.8% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 14,307 shares of the scientific and technical instruments company's stock valued at $2,130,000 after purchasing an additional 786 shares during the last quarter. Institutional investors and hedge funds own 73.41% of the company's stock.

Garmin Price Performance

Garmin stock traded down $2.94 during midday trading on Friday, hitting $208.43. 691,220 shares of the stock were exchanged, compared to its average volume of 1,132,390. Garmin Ltd. has a 1 year low of $118.51 and a 1 year high of $215.55. The firm has a market cap of $40.02 billion, a P/E ratio of 26.45, a P/E/G ratio of 3.17 and a beta of 0.97. The company has a 50 day moving average price of $179.96 and a two-hundred day moving average price of $172.51.

Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the firm posted $1.41 EPS. The firm's quarterly revenue was up 24.1% on a year-over-year basis. As a group, analysts predict that Garmin Ltd. will post 6.88 EPS for the current year.

Insider Buying and Selling

In related news, insider Cheng-Wei Wang sold 10,055 shares of the business's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the completion of the sale, the insider now owns 40,965 shares of the company's stock, valued at $7,257,359.40. This represents a 19.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sean Biddlecombe sold 587 shares of the business's stock in a transaction dated 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 approximately $1,291,484.70. This represents a 8.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,479 shares of company stock valued at $2,419,502 in the last quarter. Company insiders own 19.54% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. StockNews.com lowered shares of Garmin from a "buy" rating to a "hold" rating in a report on Thursday, September 12th. Tigress Financial lifted their target price 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. Morgan Stanley lowered shares of Garmin from an "equal weight" rating to an "underweight" rating and reduced their target price for the company from $155.00 to $138.00 in a report on Monday, October 7th. Finally, Barclays lifted their target price on shares of Garmin from $133.00 to $158.00 and gave the company an "underweight" rating in a report on Friday, November 1st. Three equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target 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.