QRG Capital Management Inc. Buys 3,713 Shares of Garmin Ltd. (NYSE:GRMN)

QRG Capital Management Inc. boosted its holdings in Garmin Ltd. (NYSE:GRMN - Free Report) by 5.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 66,293 shares of the scientific and technical instruments company's stock after acquiring an additional 3,713 shares during the quarter. QRG Capital Management Inc.'s holdings in Garmin were worth $11,670,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Clearstead Trust LLC acquired a new stake in shares of Garmin in the 1st quarter worth approximately $30,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Garmin in the 2nd quarter worth about $31,000. Family Firm Inc. acquired a new stake in Garmin in the 2nd quarter valued at about $35,000. Benjamin Edwards Inc. increased its holdings in Garmin by 73.3% during the 2nd quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company's stock valued at $38,000 after acquiring an additional 99 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in Garmin during the second quarter worth about $46,000. Institutional investors and hedge funds own 73.41% of the company's stock.

Analysts Set New Price Targets

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

Garmin Stock Performance

NYSE GRMN traded up $3.94 during trading on Tuesday, hitting $204.18. The stock had a trading volume of 1,189,301 shares, compared to its average volume of 856,729. The company's 50-day moving average price is $175.10 and its two-hundred day moving average price is $168.86. Garmin Ltd. has a 12 month low of $114.49 and a 12 month high of $207.22. The company has a market capitalization of $39.21 billion, a PE ratio of 25.91, a P/E/G ratio of 2.99 and a beta of 0.97.

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, beating the consensus estimate of $1.46 by $0.53. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the previous year, the company posted $1.41 EPS. The firm's quarterly revenue was up 24.1% on a year-over-year basis. As a group, equities analysts anticipate that Garmin Ltd. will post 6.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Garmin news, insider Cheng-Wei Wang sold 10,055 shares of the company's stock in a transaction on 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 transaction, the insider now owns 40,965 shares in the company, valued at approximately $7,257,359.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Garmin news, Director Philip Straub sold 2,750 shares of Garmin stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $181.46, for a total value of $499,015.00. Following the transaction, the director now directly owns 88,622 shares of the company's stock, valued at $16,081,348.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the insider now owns 40,965 shares in the company, valued at $7,257,359.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,892 shares of company stock valued at $2,296,174 over the last ninety days. 19.54% of the stock is owned by company insiders.

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.