Garmin Ltd. (GRMN) Position Lowered by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC decreased its holdings in Garmin Ltd. (NASDAQ:GRMN) by 9.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 70,820 shares of the scientific and technical instruments company’s stock after selling 7,500 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Garmin were worth $4,219,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in GRMN. BlackRock Inc. raised its stake in Garmin by 3.7% during the second quarter. BlackRock Inc. now owns 11,293,625 shares of the scientific and technical instruments company’s stock valued at $576,315,000 after buying an additional 404,430 shares in the last quarter. Vanguard Group Inc. raised its stake in Garmin by 0.6% during the second quarter. Vanguard Group Inc. now owns 10,473,447 shares of the scientific and technical instruments company’s stock valued at $534,459,000 after buying an additional 59,138 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its stake in Garmin by 0.5% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,634,576 shares of the scientific and technical instruments company’s stock valued at $83,412,000 after buying an additional 8,210 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in Garmin by 8.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,619,167 shares of the scientific and technical instruments company’s stock valued at $87,385,000 after buying an additional 123,324 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Garmin by 5.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,282,094 shares of the scientific and technical instruments company’s stock valued at $69,195,000 after buying an additional 62,596 shares in the last quarter. Institutional investors and hedge funds own 41.54% of the company’s stock.

In other news, major shareholder Jonathan Burrell sold 254,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $62.45, for a total transaction of $15,862,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Clifton A. Pemble sold 38,302 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $60.00, for a total value of $2,298,120.00. The disclosure for this sale can be found here. Insiders have sold 1,057,923 shares of company stock valued at $64,040,293 over the last ninety days. Corporate insiders own 18.30% of the company’s stock.

GRMN has been the topic of several research reports. Zacks Investment Research upgraded Garmin from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research note on Thursday, January 4th. ValuEngine upgraded Garmin from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. BidaskClub cut Garmin from a “buy” rating to a “hold” rating in a research note on Friday, December 15th. Tigress Financial restated a “buy” rating on shares of Garmin in a research note on Friday, December 15th. Finally, Credit Suisse Group restated an “underperform” rating and set a $58.00 price objective (up previously from $48.00) on shares of Garmin in a research note on Tuesday, December 12th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $56.71.

Garmin Ltd. (NASDAQ GRMN) opened at $63.04 on Thursday. The company has a market capitalization of $11,521.88, a P/E ratio of 17.18, a PEG ratio of 2.49 and a beta of 0.85. Garmin Ltd. has a fifty-two week low of $47.03 and a fifty-two week high of $63.15.

Garmin (NASDAQ:GRMN) last posted its earnings results on Wednesday, November 1st. The scientific and technical instruments company reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.09. The company had revenue of $743.00 million during the quarter, compared to analyst estimates of $722.00 million. Garmin had a return on equity of 15.23% and a net margin of 22.65%. The business’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.75 earnings per share. sell-side analysts predict that Garmin Ltd. will post 2.9 EPS for the current fiscal year.

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About Garmin

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.

Institutional Ownership by Quarter for Garmin (NASDAQ:GRMN)

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