State of Alaska Department of Revenue decreased its position in Garmin Ltd. (NYSE:GRMN – Get Rating) by 20.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,198 shares of the scientific and technical instruments company's stock after selling 13,190 shares during the quarter. State of Alaska Department of Revenue's holdings in Garmin were worth $5,029,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Garmin by 2.2% during the first quarter. Vanguard Group Inc. now owns 17,276,118 shares of the scientific and technical instruments company's stock valued at $2,049,121,000 after purchasing an additional 365,713 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Garmin by 8.2% during the first quarter. BlackRock Inc. now owns 14,264,641 shares of the scientific and technical instruments company's stock valued at $1,691,932,000 after purchasing an additional 1,077,004 shares during the last quarter. State Street Corp lifted its holdings in shares of Garmin by 1.7% during the fourth quarter. State Street Corp now owns 6,699,383 shares of the scientific and technical instruments company's stock valued at $912,261,000 after purchasing an additional 111,459 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Garmin by 2.3% during the first quarter. JPMorgan Chase & Co. now owns 2,109,697 shares of the scientific and technical instruments company's stock valued at $250,231,000 after purchasing an additional 47,193 shares during the last quarter. Finally, Boston Partners purchased a new stake in shares of Garmin during the first quarter valued at $205,920,000. Institutional investors and hedge funds own 62.50% of the company's stock.
Get
Garmin alerts:
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on the company. Tigress Financial reduced their target price on Garmin from $208.00 to $165.00 and set a "strong-buy" rating for the company in a report on Friday, August 5th. Bank of America lowered Garmin from a "buy" rating to a "neutral" rating and dropped their price target for the company from $137.00 to $109.00 in a research report on Tuesday, August 2nd. Morgan Stanley dropped their price target on Garmin from $127.00 to $115.00 and set an "equal weight" rating on the stock in a research report on Tuesday, June 14th. Finally, TheStreet lowered Garmin from a "b" rating to a "c+" rating in a research report on Wednesday, July 27th. Two analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $134.75.
Insiders Place Their Bets
In other Garmin news, CEO Clifton A. Pemble sold 9,550 shares of the company's stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $90.00, for a total value of $859,500.00. Following the transaction, the chief executive officer now directly owns 135,950 shares of the company's stock, valued at approximately $12,235,500. The sale was disclosed in a legal filing with the SEC, which is accessible through
the SEC website. In other news, CEO Clifton A. Pemble sold 9,550 shares of the company's stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $90.00, for a total transaction of $859,500.00. Following the completion of the sale, the chief executive officer now owns 135,950 shares in the company, valued at approximately $12,235,500. The transaction was disclosed in a filing with the SEC, which is accessible through
this hyperlink. Also, CEO Clifton A. Pemble sold 16,089 shares of the company's stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $97.81, for a total value of $1,573,665.09. Following the sale, the chief executive officer now owns 145,500 shares of the company's stock, valued at approximately $14,231,355. The disclosure for this sale can be found
here. Insiders own 20.34% of the company's stock.
Garmin Trading Down 2.2 %
NYSE:GRMN opened at $85.46 on Wednesday. The firm has a market capitalization of $16.48 billion, a price-to-earnings ratio of 16.31, a PEG ratio of 3.13 and a beta of 0.97. Garmin Ltd. has a 1-year low of $84.44 and a 1-year high of $173.29. The business's fifty day moving average price is $95.34 and its 200 day moving average price is $102.91.
Garmin (NYSE:GRMN – Get Rating) last issued its earnings results on Wednesday, July 27th. The scientific and technical instruments company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.02. Garmin had a return on equity of 17.71% and a net margin of 20.31%. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period in the prior year, the firm posted $1.68 EPS. The business's revenue was down 6.5% compared to the same quarter last year. Equities analysts forecast that Garmin Ltd. will post 4.9 earnings per share for the current year.
Garmin Company Profile
(Get Rating)
Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices in the Americas, the Asia Pacific, Australian Continent, Europe, the Middle East, and Africa. Its Fitness segment offers running and multi-sport watches; cycling products; activity tracking and smartwatch devices; and fitness and cycling accessories.
Read More
- Get a free copy of the StockNews.com research report on Garmin (GRMN)
- 3 Airline Stocks Stuck in a Holding Pattern
- Roku Stock is Down but Not Out
- Is Ford Rolling To A Rebound After Its Q3 Warning
- If You're Hungry for Value, Take a Bite on Ruth's Hospitality Grp
- Has AMD stock stock fallen too far?
Want to see what other hedge funds are holding GRMN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Garmin Ltd. (NYSE:GRMN – Get Rating).
Receive News & Ratings for Garmin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Garmin and related companies with MarketBeat.com's FREE daily email newsletter.
