Nomura Asset Management Co. Ltd. Has $8.13 Million Stock Holdings in Garmin Ltd. (NYSE:GRMN)

Nomura Asset Management Co. Ltd. lifted its holdings in Garmin Ltd. (NYSE:GRMN - Free Report) by 6.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,176 shares of the scientific and technical instruments company's stock after buying an additional 2,626 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in Garmin were worth $8,128,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp raised its stake in shares of Garmin by 2.0% during the third quarter. State Street Corp now owns 6,912,536 shares of the scientific and technical instruments company's stock worth $1,216,819,000 after buying an additional 134,303 shares during the last quarter. FMR LLC raised its position in shares of Garmin by 40.8% during the 3rd quarter. FMR LLC now owns 3,775,154 shares of the scientific and technical instruments company's stock valued at $664,540,000 after acquiring an additional 1,093,219 shares during the last quarter. Select Equity Group L.P. lifted its stake in shares of Garmin by 0.6% in the 2nd quarter. Select Equity Group L.P. now owns 2,006,563 shares of the scientific and technical instruments company's stock valued at $326,909,000 after purchasing an additional 11,666 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Garmin by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,735,623 shares of the scientific and technical instruments company's stock worth $282,761,000 after purchasing an additional 13,968 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Garmin by 34.0% during the second quarter. Marshall Wace LLP now owns 1,098,443 shares of the scientific and technical instruments company's stock worth $178,958,000 after purchasing an additional 278,990 shares during the period. Institutional investors own 81.60% of the company's stock.

Insider Buying and Selling at Garmin

In related news, Director Sean Biddlecombe sold 587 shares of the business's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $210.10, for a total transaction of $123,328.70. Following the sale, the director now owns 6,147 shares in the company, valued at $1,291,484.70. The trade was a 8.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 19.54% of the company's stock.

Garmin Stock Performance

Shares of NYSE GRMN traded up $0.18 during trading hours on Friday, reaching $215.40. 678,012 shares of the stock were exchanged, compared to its average volume of 857,080. Garmin Ltd. has a 52 week low of $119.15 and a 52 week high of $222.97. The firm has a market capitalization of $41.36 billion, a price-to-earnings ratio of 27.37, a P/E/G ratio of 1.46 and a beta of 0.97. The stock's fifty day simple moving average is $194.68 and its 200 day simple moving average is $178.51.

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 for the quarter, beating analysts' consensus estimates of $1.46 by $0.53. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The firm's quarterly revenue was up 24.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.41 earnings per share. Research analysts predict that Garmin Ltd. will post 7.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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