Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new position in shares of Garmin Ltd. (NASDAQ:GRMN) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 54,714 shares of the scientific and technical instruments company’s stock, valued at approximately $2,966,000.
Other institutional investors have also bought and sold shares of the company. WFG Advisors LP raised its holdings in shares of Garmin by 11.5% during the 2nd quarter. WFG Advisors LP now owns 2,175 shares of the scientific and technical instruments company’s stock worth $111,000 after buying an additional 225 shares in the last quarter. US Bancorp DE raised its holdings in shares of Garmin by 8.8% during the 2nd quarter. US Bancorp DE now owns 2,215 shares of the scientific and technical instruments company’s stock worth $113,000 after buying an additional 180 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Garmin by 72.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,741 shares of the scientific and technical instruments company’s stock worth $191,000 after buying an additional 1,568 shares in the last quarter. Profund Advisors LLC acquired a new position in shares of Garmin during the 2nd quarter worth $202,000. Finally, Bank of Hawaii acquired a new position in shares of Garmin during the 3rd quarter worth $206,000. 38.01% of the stock is owned by institutional investors.
Garmin Ltd. (NASDAQ GRMN) opened at $60.32 on Tuesday. Garmin Ltd. has a fifty-two week low of $47.03 and a fifty-two week high of $61.04. The stock has a market capitalization of $12,049.05, a PE ratio of 21.12, a price-to-earnings-growth ratio of 2.51 and a beta of 0.81.
Garmin (NASDAQ:GRMN) last issued its earnings results on Wednesday, November 1st. The scientific and technical instruments company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. Garmin had a return on equity of 15.23% and a net margin of 22.65%. The business had revenue of $743.00 million during the quarter, compared to analysts’ expectations of $722.00 million. During the same quarter in the prior year, the firm earned $0.75 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. equities research analysts predict that Garmin Ltd. will post 2.9 earnings per share for the current year.
A number of research firms have recently commented on GRMN. ValuEngine raised Garmin from a “hold” rating to a “buy” rating in a report on Friday. Morgan Stanley boosted their price target on Garmin from $52.00 to $57.00 and gave the stock an “equal weight” rating in a report on Thursday, November 2nd. Zacks Investment Research raised Garmin from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a report on Thursday, November 2nd. KeyCorp reissued a “hold” rating on shares of Garmin in a report on Wednesday, November 1st. Finally, BidaskClub raised Garmin from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 22nd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $56.33.
In other Garmin news, EVP Patrick Desbois sold 1,881 shares of the company’s stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $55.00, for a total value of $103,455.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Jonathan Burrell sold 127,000 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $60.37, for a total value of $7,666,990.00. The disclosure for this sale can be found here. Insiders sold a total of 1,295,735 shares of company stock worth $71,440,902 in the last quarter. Corporate insiders own 18.30% of the company’s stock.
Garmin Ltd. (Garmin) and subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. The Company operates through five segments. It offers a range of auto navigation products, as well as a range of products and applications designed for the mobile GPS market. It offers products to consumers around the world, including Outdoor Handhelds, Wearable Devices, Golf Devices, and Dog Tracking and Training/Pet Obedience Devices.
Receive News & Ratings for Garmin Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Garmin Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.