Raymond James Financial Services Advisors Inc. Has $3.86 Million Holdings in Garmin Ltd. (GRMN)

Raymond James Financial Services Advisors Inc. boosted its position in Garmin Ltd. (NASDAQ:GRMN) by 5.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 63,266 shares of the scientific and technical instruments company’s stock after purchasing an additional 3,023 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Garmin were worth $3,859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GRMN. Global X Management Co. LLC lifted its stake in Garmin by 18.0% in the first quarter. Global X Management Co. LLC now owns 124,403 shares of the scientific and technical instruments company’s stock worth $7,331,000 after purchasing an additional 18,934 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Garmin by 10.4% in the first quarter. Wells Fargo & Company MN now owns 227,952 shares of the scientific and technical instruments company’s stock worth $13,432,000 after purchasing an additional 21,381 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH lifted its stake in Garmin by 60.6% in the first quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 64,935 shares of the scientific and technical instruments company’s stock worth $3,764,000 after purchasing an additional 24,503 shares during the last quarter. Alps Advisors Inc. lifted its stake in Garmin by 74.3% in the first quarter. Alps Advisors Inc. now owns 9,755 shares of the scientific and technical instruments company’s stock worth $575,000 after purchasing an additional 4,158 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS lifted its stake in Garmin by 3.0% in the first quarter. Kornitzer Capital Management Inc. KS now owns 464,717 shares of the scientific and technical instruments company’s stock worth $27,386,000 after purchasing an additional 13,655 shares during the last quarter. 37.98% of the stock is owned by institutional investors and hedge funds.

Garmin stock opened at $63.54 on Tuesday. Garmin Ltd. has a fifty-two week low of $50.85 and a fifty-two week high of $65.96. The company has a market cap of $12.64 billion, a PE ratio of 21.61, a P/E/G ratio of 2.63 and a beta of 0.96.

Garmin (NASDAQ:GRMN) last posted its quarterly earnings results on Wednesday, August 1st. The scientific and technical instruments company reported $0.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.12. Garmin had a net margin of 18.72% and a return on equity of 15.98%. The firm had revenue of $894.50 million during the quarter, compared to the consensus estimate of $844.76 million. During the same quarter in the previous year, the firm posted $0.88 earnings per share. The company’s revenue was up 7.6% on a year-over-year basis. sell-side analysts expect that Garmin Ltd. will post 3.3 EPS for the current fiscal year.

In other news, Director Sean Biddlecombe sold 1,308 shares of Garmin stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $64.89, for a total transaction of $84,876.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Danny J. Bartel sold 1,548 shares of Garmin stock in a transaction that occurred on Thursday, May 17th. The shares were sold at an average price of $59.69, for a total transaction of $92,400.12. The disclosure for this sale can be found here. Insiders have sold 4,038,564 shares of company stock valued at $253,359,363 in the last ninety days. Insiders own 17.85% of the company’s stock.

Several analysts have issued reports on GRMN shares. Longbow Research set a $72.00 price objective on shares of Garmin and gave the stock a “buy” rating in a research note on Thursday, July 19th. BidaskClub raised shares of Garmin from a “hold” rating to a “buy” rating in a research note on Wednesday, May 30th. Finally, ValuEngine downgraded shares of Garmin from a “buy” rating to a “hold” rating in a research note on Monday, May 7th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $62.80.

Garmin Profile

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices worldwide. It operates through five segments: Auto, Aviation, Marine, Outdoor, and Fitness. The Auto segment offers personal navigation devices; infotainment systems; and action cameras, as well as mobile applications under the Garmin and NAVIGON names.

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Institutional Ownership by Quarter for Garmin (NASDAQ:GRMN)

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