Advisor Group Inc. increased its position in Garmin Ltd. (NASDAQ:GRMN) by 6.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,645 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,157 shares during the quarter. Advisor Group Inc.’s holdings in Garmin were worth $1,006,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in GRMN. Teachers Advisors LLC lifted its holdings in Garmin by 5.8% during the first quarter. Teachers Advisors LLC now owns 151,582 shares of the scientific and technical instruments company’s stock worth $7,747,000 after buying an additional 8,278 shares during the period. Thrivent Financial For Lutherans purchased a new stake in Garmin during the first quarter worth $217,000. State of Alaska Department of Revenue lifted its holdings in Garmin by 1.3% during the second quarter. State of Alaska Department of Revenue now owns 9,580 shares of the scientific and technical instruments company’s stock worth $488,000 after buying an additional 120 shares during the period. Mn Services Vermogensbeheer B.V. lifted its holdings in Garmin by 552.4% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 20,629 shares of the scientific and technical instruments company’s stock worth $1,053,000 after buying an additional 17,467 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its holdings in Garmin by 4.0% during the second quarter. Oregon Public Employees Retirement Fund now owns 34,167 shares of the scientific and technical instruments company’s stock worth $1,744,000 after buying an additional 1,300 shares during the period. 38.72% of the stock is currently owned by institutional investors.
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In other news, major shareholder Jonathan Burrell sold 127,000 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $52.25, for a total transaction of $6,635,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Andrew R. Etkind sold 1,724 shares of the stock in a transaction on Friday, September 8th. The shares were sold at an average price of $52.50, for a total value of $90,510.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,319,648 shares of company stock valued at $75,067,936. Company insiders own 18.30% of the company’s stock.
Garmin (NASDAQ:GRMN) last issued its quarterly earnings data on Wednesday, November 1st. The scientific and technical instruments company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.66 by $0.09. Garmin had a return on equity of 15.23% and a net margin of 22.65%. The firm had revenue of $743.00 million during the quarter, compared to analyst estimates of $722.00 million. During the same quarter in the prior year, the business posted $0.75 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. analysts expect that Garmin Ltd. will post 2.9 earnings per share for the current year.
A number of analysts have weighed in on GRMN shares. Morgan Stanley set a $50.00 target price on Garmin and gave the stock a “hold” rating in a report on Monday, July 31st. BidaskClub lowered Garmin from a “sell” rating to a “strong sell” rating in a report on Friday, August 4th. ValuEngine upgraded Garmin from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Zacks Investment Research lowered Garmin from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Finally, KeyCorp restated a “hold” rating on shares of Garmin in a report on Wednesday, November 1st. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. Garmin currently has a consensus rating of “Hold” and a consensus target price of $56.33.
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.
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