XTX Topco Ltd bought a new stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,796 shares of the scientific and technical instruments company's stock, valued at approximately $668,000.
Other institutional investors also recently bought and sold shares of the company. FMR LLC grew its stake in shares of Garmin by 40.8% in the 3rd quarter. FMR LLC now owns 3,775,154 shares of the scientific and technical instruments company's stock worth $664,540,000 after buying an additional 1,093,219 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Garmin by 136.7% in the 2nd quarter. AQR Capital Management LLC now owns 711,849 shares of the scientific and technical instruments company's stock worth $115,177,000 after buying an additional 411,084 shares in the last quarter. Montrusco Bolton Investments Inc. purchased a new position in shares of Garmin in the 3rd quarter worth $53,252,000. Renaissance Technologies LLC purchased a new position in shares of Garmin in the 2nd quarter worth $45,999,000. Finally, Marshall Wace LLP grew its stake in shares of Garmin by 34.0% in the 2nd quarter. Marshall Wace LLP now owns 1,098,443 shares of the scientific and technical instruments company's stock worth $178,958,000 after buying an additional 278,990 shares in the last quarter. 81.60% of the stock is owned by hedge funds and other institutional investors.
Garmin Stock Performance
Garmin stock traded down $0.57 during trading hours on Friday, hitting $215.40. The company had a trading volume of 731,660 shares, compared to its average volume of 857,080. The firm has a market cap of $41.36 billion, a P/E ratio of 27.37, a P/E/G ratio of 1.46 and a beta of 0.97. Garmin Ltd. has a 1 year low of $119.15 and a 1 year high of $222.97. The company has a 50-day moving average price of $194.68 and a two-hundred day moving average price of $178.51.
Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $1.59 billion during the quarter, compared to analysts' expectations 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 company earned $1.41 EPS. As a group, equities research analysts anticipate that Garmin Ltd. will post 7.01 EPS for the current year.
Analysts Set New Price Targets
A number of equities analysts have commented on the stock. StockNews.com cut shares of Garmin from a "buy" rating to a "hold" rating in a research note on Thursday, September 12th. Tigress Financial lifted their price target 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. Barclays lifted their price target 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, Morgan Stanley cut shares of Garmin from an "equal weight" rating to an "underweight" rating and dropped their price target for the stock from $155.00 to $138.00 in a research note on Monday, October 7th. 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, the stock presently has a consensus rating of "Hold" and a consensus target price of $162.67.
View Our Latest Analysis on Garmin
Insider Transactions at Garmin
In other news, Director Sean Biddlecombe sold 587 shares of the company's stock in a transaction that occurred 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 completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 19.54% of the company's stock.
Garmin Profile
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Free Report)
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.
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