Brown Advisory Inc. trimmed its stake in Garmin Ltd. (NASDAQ:GRMN) by 29.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,997 shares of the scientific and technical instruments company’s stock after selling 14,790 shares during the period. Brown Advisory Inc.’s holdings in Garmin were worth $1,889,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of GRMN. US Bancorp DE grew its position in Garmin by 8.8% in the 2nd quarter. US Bancorp DE now owns 2,215 shares of the scientific and technical instruments company’s stock worth $113,000 after purchasing an additional 180 shares during the last quarter. ING Groep NV acquired a new stake in Garmin in the 2nd quarter worth $323,000. Public Employees Retirement Association of Colorado grew its position in Garmin by 1.2% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 22,277 shares of the scientific and technical instruments company’s stock worth $1,137,000 after purchasing an additional 264 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its position in Garmin by 29.2% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 14,430 shares of the scientific and technical instruments company’s stock worth $736,000 after purchasing an additional 3,260 shares during the last quarter. Finally, Great West Life Assurance Co. Can grew its position in Garmin by 1.0% in the 2nd quarter. Great West Life Assurance Co. Can now owns 84,458 shares of the scientific and technical instruments company’s stock worth $4,305,000 after purchasing an additional 849 shares during the last quarter. Institutional investors own 39.37% of the company’s stock.
GRMN has been the topic of several research analyst reports. Zacks Investment Research lowered shares of Garmin from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Morgan Stanley raised their price target on shares of Garmin from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 2nd. ValuEngine upgraded shares of Garmin from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. KeyCorp reiterated a “hold” rating on shares of Garmin in a research report on Wednesday, November 1st. Finally, BidaskClub upgraded shares of Garmin from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 22nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $56.33.
In other news, EVP Patrick Desbois sold 1,881 shares of Garmin stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $55.00, for a total transaction of $103,455.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Jonathan Burrell sold 127,000 shares of Garmin stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $52.25, for a total transaction of $6,635,750.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,572,188 shares of company stock worth $90,877,763. 18.30% of the stock is owned by company insiders.
Shares of Garmin Ltd. (NASDAQ GRMN) opened at $61.27 on Friday. Garmin Ltd. has a 12-month low of $47.03 and a 12-month high of $63.15. The firm has a market cap of $12,185.72, a PE ratio of 21.36, a PEG ratio of 2.54 and a beta of 0.84.
Garmin (NASDAQ:GRMN) last issued its earnings results on Wednesday, November 1st. The scientific and technical instruments company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.09. Garmin had a net margin of 22.65% and a return on equity of 15.23%. The business had revenue of $743.00 million for the quarter, compared to analyst estimates of $722.00 million. During the same period in the previous year, the business earned $0.75 EPS. The firm’s revenue was up 2.9% on a year-over-year basis. equities research analysts expect that Garmin Ltd. will post 2.9 EPS for the current year.
TRADEMARK VIOLATION NOTICE: “Garmin Ltd. (GRMN) Shares Sold by Brown Advisory Inc.” was posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this news story on another domain, it was copied illegally and republished in violation of U.S. and international copyright & trademark legislation. The correct version of this news story can be accessed at https://www.dispatchtribunal.com/2017/12/08/garmin-ltd-grmn-shares-sold-by-brown-advisory-inc.html.
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.
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. (NASDAQ:GRMN).
Receive News & Ratings for Garmin Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Garmin Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.