Garmin Ltd. (NYSE:GRMN) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. cut its stake in Garmin Ltd. (NYSE:GRMN - Free Report) by 49.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,276 shares of the scientific and technical instruments company's stock after selling 6,209 shares during the period. iA Global Asset Management Inc.'s holdings in Garmin were worth $1,105,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Garmin during the second quarter worth approximately $31,000. Larson Financial Group LLC grew its position in Garmin by 578.6% during the 3rd quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company's stock worth $33,000 after purchasing an additional 162 shares during the last quarter. Family Firm Inc. acquired a new position in Garmin in the second quarter valued at $35,000. Benjamin Edwards Inc. raised its holdings in shares of Garmin by 73.3% in the second quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company's stock valued at $38,000 after buying an additional 99 shares during the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Garmin during the third quarter worth about $39,000. Institutional investors and hedge funds own 81.60% of the company's stock.

Insider Buying and Selling 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 stock was sold at an average price of $210.10, for a total value of $123,328.70. Following the sale, the director now 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 is accessible through the SEC website. 19.54% of the stock is currently owned by corporate insiders.

Garmin Stock Performance

NYSE:GRMN traded down $0.04 during trading hours on Tuesday, hitting $219.29. The company's stock had a trading volume of 1,093,006 shares, compared to its average volume of 858,631. Garmin Ltd. has a 52-week low of $119.15 and a 52-week high of $220.78. The business's 50-day moving average is $191.84 and its two-hundred day moving average is $177.56. The company has a market capitalization of $42.11 billion, a PE ratio of 27.83, a PEG ratio of 1.44 and a beta of 0.97.

Garmin (NYSE:GRMN - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, topping analysts' consensus estimates of $1.46 by $0.53. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The business had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.44 billion. During the same period in the prior year, the company posted $1.41 EPS. The business's revenue for the quarter was up 24.1% on a year-over-year basis. As a group, analysts predict that Garmin Ltd. will post 7.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on GRMN. Morgan Stanley downgraded Garmin from an "equal weight" rating to an "underweight" rating and reduced their price objective for the company from $155.00 to $138.00 in a research note on Monday, October 7th. Barclays increased their price target on Garmin from $133.00 to $158.00 and gave the stock an "underweight" rating in a report on Friday, November 1st. Tigress Financial boosted their price objective on shares of Garmin from $210.00 to $215.00 and gave the company a "strong-buy" rating in a research note on Thursday, September 19th. Finally, StockNews.com cut shares of 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 given a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Garmin presently has a consensus rating of "Hold" and a consensus price target of $162.67.

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.