BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Decreases Position in Garmin Ltd. (NYSE:GRMN)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its holdings in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 12.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,635 shares of the scientific and technical instruments company's stock after selling 3,748 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Garmin were worth $4,513,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GRMN. Cetera Investment Advisers boosted its holdings in shares of Garmin by 51.7% in the first quarter. Cetera Investment Advisers now owns 28,395 shares of the scientific and technical instruments company's stock valued at $4,227,000 after purchasing an additional 9,681 shares during the period. Citigroup Inc. boosted its holdings in shares of Garmin by 123.2% in the third quarter. Citigroup Inc. now owns 283,412 shares of the scientific and technical instruments company's stock valued at $49,889,000 after purchasing an additional 156,441 shares during the period. Algert Global LLC purchased a new stake in shares of Garmin in the second quarter valued at approximately $508,000. Dynamic Advisor Solutions LLC purchased a new stake in shares of Garmin in the third quarter valued at approximately $695,000. Finally, Trajan Wealth LLC boosted its holdings in shares of Garmin by 9.1% in the third quarter. Trajan Wealth LLC now owns 82,362 shares of the scientific and technical instruments company's stock valued at $14,498,000 after purchasing an additional 6,878 shares during the period. Hedge funds and other institutional investors own 73.41% of the company's stock.

Insider Transactions at Garmin

In other Garmin news, Director Sean Biddlecombe sold 587 shares of the company's stock in a transaction 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. This represents a 8.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 19.54% of the company's stock.

Garmin Trading Down 0.5 %

Shares of GRMN stock traded down $1.01 during trading hours on Tuesday, reaching $212.45. 461,706 shares of the company's stock were exchanged, compared to its average volume of 858,749. The stock's 50 day moving average is $188.40 and its 200-day moving average is $176.12. The company has a market cap of $40.79 billion, a price-to-earnings ratio of 26.96, a P/E/G ratio of 1.41 and a beta of 0.97. Garmin Ltd. has a fifty-two week low of $119.15 and a fifty-two week high of $216.44.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.46 by $0.53. The business had revenue of $1.59 billion for 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 quarterly revenue was up 24.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.41 earnings per share. Equities analysts anticipate that Garmin Ltd. will post 7.01 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GRMN shares. Morgan Stanley lowered Garmin from an "equal weight" rating to an "underweight" rating and lowered their price target for the company from $155.00 to $138.00 in a report on Monday, October 7th. StockNews.com downgraded shares of Garmin from a "buy" rating to a "hold" rating in a research note on Thursday, September 12th. Barclays boosted their price objective on shares of Garmin from $133.00 to $158.00 and gave the stock an "underweight" rating in a research note on Friday, November 1st. Finally, Tigress Financial boosted their price objective on shares of Garmin from $210.00 to $215.00 and gave the stock a "strong-buy" rating in a research note on Thursday, September 19th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $162.67.

About Garmin

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.