Chevy Chase Trust Holdings Inc. decreased its stake in Garmin Ltd. (NASDAQ:GRMN) by 2.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 96,781 shares of the scientific and technical instruments company’s stock after selling 2,057 shares during the period. Chevy Chase Trust Holdings Inc.’s holdings in Garmin were worth $5,223,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. WFG Advisors LP grew its stake in shares of Garmin by 11.5% in the second quarter. WFG Advisors LP now owns 2,175 shares of the scientific and technical instruments company’s stock worth $111,000 after acquiring an additional 225 shares during the last quarter. US Bancorp DE grew its stake in shares of Garmin by 8.8% in the second quarter. US Bancorp DE now owns 2,215 shares of the scientific and technical instruments company’s stock worth $113,000 after acquiring an additional 180 shares during the last quarter. Profund Advisors LLC acquired a new stake in shares of Garmin in the second quarter worth $202,000. Bank of Hawaii bought a new position in Garmin in the third quarter worth $206,000. Finally, Cambridge Advisors Inc. bought a new position in Garmin in the third quarter worth $208,000. Institutional investors and hedge funds own 39.37% of the company’s stock.
Several brokerages recently commented on GRMN. Tigress Financial reaffirmed a “buy” rating on shares of Garmin in a research report on Friday. BidaskClub cut Garmin from a “buy” rating to a “hold” rating in a research report on Friday. Credit Suisse Group reaffirmed an “underperform” rating and issued a $58.00 target price (up from $48.00) on shares of Garmin in a research report on Tuesday, December 12th. Zacks Investment Research raised Garmin from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a research report on Thursday, November 2nd. Finally, KeyCorp reaffirmed a “hold” rating on shares of Garmin in a research report on Wednesday, November 1st. Three analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $56.57.
Garmin Ltd. (NASDAQ GRMN) opened at $58.36 on Friday. The company has a market capitalization of $11,148.75, a price-to-earnings ratio of 20.65, a P/E/G ratio of 2.46 and a beta of 0.84. Garmin Ltd. has a 12-month low of $47.03 and a 12-month high of $63.15.
Garmin (NASDAQ:GRMN) last issued its earnings results on Wednesday, November 1st. The scientific and technical instruments company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.66 by $0.09. The firm had revenue of $743.00 million during the quarter, compared to analysts’ expectations of $722.00 million. Garmin had a return on equity of 15.23% and a net margin of 22.65%. Garmin’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the business earned $0.75 earnings per share. equities analysts predict that Garmin Ltd. will post 2.9 EPS for the current fiscal year.
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Garmin Company Profile
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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