Garmin Ltd. $GRMN Shares Purchased by Tidal Investments LLC

Tidal Investments LLC raised its position in Garmin Ltd. (NYSE:GRMN) by 51.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,608 shares of the scientific and technical instruments company’s stock after acquiring an additional 10,439 shares during the quarter. Tidal Investments LLC’s holdings in Garmin were worth $7,271,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GRMN. GSA Capital Partners LLP acquired a new stake in Garmin in the fourth quarter valued at $979,000. Arrowstreet Capital Limited Partnership lifted its holdings in Garmin by 121.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 107,929 shares of the scientific and technical instruments company’s stock worth $25,041,000 after buying an additional 59,229 shares during the last quarter. Plato Investment Management Ltd acquired a new position in shares of Garmin during the 2nd quarter worth about $1,447,000. Commerzbank Aktiengesellschaft FI boosted its position in shares of Garmin by 282.5% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 6,518 shares of the scientific and technical instruments company’s stock worth $1,322,000 after acquiring an additional 4,814 shares in the last quarter. Finally, Westerkirk Capital Inc. increased its holdings in shares of Garmin by 88.2% in the 4th quarter. Westerkirk Capital Inc. now owns 20,700 shares of the scientific and technical instruments company’s stock valued at $4,199,000 after acquiring an additional 9,700 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Insider Buying and Selling at Garmin

In related news, insider Cheng-Wei Wang sold 9,941 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $299.36, for a total transaction of $2,975,937.76. Following the transaction, the insider owned 29,506 shares of the company’s stock, valued at $8,832,916.16. This trade represents a 25.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Sean Biddlecombe sold 986 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $292.88, for a total value of $288,779.68. Following the completion of the transaction, the director owned 6,021 shares in the company, valued at $1,763,430.48. This trade represents a 14.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,108 shares of company stock worth $4,808,799 over the last three months. 14.80% of the stock is currently owned by corporate insiders.

Garmin Trading Up 3.7%

Shares of NYSE GRMN opened at $282.38 on Friday. The stock has a market cap of $54.46 billion, a P/E ratio of 29.11, a P/E/G ratio of 3.16 and a beta of 0.85. Garmin Ltd. has a twelve month low of $186.67 and a twelve month high of $314.28. The stock has a 50 day moving average of $276.52 and a two-hundred day moving average of $254.30.

Garmin (NYSE:GRMN) last announced its earnings results on Thursday, July 30th. The scientific and technical instruments company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.51. The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.93 billion. Garmin had a net margin of 24.47% and a return on equity of 20.95%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.17 EPS. As a group, research analysts predict that Garmin Ltd. will post 10.08 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on GRMN shares. Wall Street Zen lowered Garmin from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Morgan Stanley upped their price target on Garmin from $249.00 to $289.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Barclays raised their price objective on shares of Garmin from $238.00 to $297.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. KeyCorp restated a “sector weight” rating on shares of Garmin in a report on Wednesday, September 2nd. Finally, UBS Group set a $370.00 target price on shares of Garmin in a research report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $310.17.

Garmin Company Profile

Garmin Ltd. is a technology company that develops products and services based on global positioning system (GPS) and other navigation technologies. The company serves consumers, businesses and specialized markets through its fitness, outdoor, aviation, marine and automotive original equipment manufacturer (OEM) segments.

Its product portfolio includes smartwatches and cycling computers, sports and activity trackers, outdoor navigation devices, satellite communication products, aviation avionics and navigation systems, marine chartplotters and sonar equipment, and in-vehicle navigation and infotainment solutions.