Czech National Bank Has $7.66 Million Stock Position in Garmin Ltd. (NYSE:GRMN)

Czech National Bank increased its position in shares of Garmin Ltd. (NYSE:GRMN) by 5.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 35,284 shares of the scientific and technical instruments company’s stock after buying an additional 1,976 shares during the quarter. Czech National Bank’s holdings in Garmin were worth $7,661,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC raised its position in shares of Garmin by 26.8% during the fourth quarter. Larson Financial Group LLC now owns 241 shares of the scientific and technical instruments company’s stock worth $50,000 after purchasing an additional 51 shares during the period. Addison Advisors LLC raised its position in shares of Garmin by 11.1% during the fourth quarter. Addison Advisors LLC now owns 522 shares of the scientific and technical instruments company’s stock worth $108,000 after purchasing an additional 52 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in Garmin by 0.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 13,185 shares of the scientific and technical instruments company’s stock worth $2,720,000 after buying an additional 55 shares during the last quarter. Lifeworks Advisors LLC raised its holdings in Garmin by 0.3% during the fourth quarter. Lifeworks Advisors LLC now owns 20,169 shares of the scientific and technical instruments company’s stock worth $4,160,000 after buying an additional 58 shares during the last quarter. Finally, Principal Street Partners LLC raised its stake in shares of Garmin by 1.8% in the fourth quarter. Principal Street Partners LLC now owns 3,201 shares of the scientific and technical instruments company’s stock worth $660,000 after purchasing an additional 58 shares during the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

Garmin Price Performance

Shares of NYSE:GRMN opened at $202.79 on Tuesday. The company has a market capitalization of $39.05 billion, a PE ratio of 27.74, a price-to-earnings-growth ratio of 1.36 and a beta of 0.99. The business has a fifty day moving average price of $196.25 and a two-hundred day moving average price of $208.12. Garmin Ltd. has a 1 year low of $158.38 and a 1 year high of $246.50.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.01). The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.50 billion. Garmin had a net margin of 22.42% and a return on equity of 19.31%. Garmin’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.42 EPS. Sell-side analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current year.

Wall Street Analyst Weigh In

GRMN has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their price target on Garmin from $220.00 to $215.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st. Morgan Stanley raised their price target on shares of Garmin from $159.00 to $172.00 and gave the company an “underweight” rating in a research report on Thursday, May 1st. Tigress Financial boosted their price target on shares of Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a report on Wednesday, February 26th. Finally, Barclays reduced their price objective on shares of Garmin from $188.00 to $152.00 and set an “underweight” rating for the company in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $206.00.

Insider Activity

In other news, VP Susan Lyman sold 2,829 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $215.51, for a total transaction of $609,677.79. Following the completion of the transaction, the vice president now owns 8,432 shares in the company, valued at approximately $1,817,180.32. This represents a 25.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 15.38% of the company’s stock.

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.