Fulton Breakefield Broenniman LLC acquired a new position in shares of Garmin Ltd. (NASDAQ:GRMN) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,500 shares of the scientific and technical instruments company’s stock, valued at approximately $381,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of GRMN. Pearl River Capital LLC acquired a new stake in shares of Garmin during the 2nd quarter worth approximately $31,000. HM Payson & Co. bought a new stake in shares of Garmin during the 2nd quarter worth $37,000. Amica Retiree Medical Trust bought a new stake in shares of Garmin during the 2nd quarter worth $43,000. CSat Investment Advisory L.P. raised its stake in shares of Garmin by 103.4% during the 2nd quarter. CSat Investment Advisory L.P. now owns 708 shares of the scientific and technical instruments company’s stock worth $56,000 after purchasing an additional 360 shares during the period. Finally, Hanseatic Management Services Inc. raised its stake in shares of Garmin by 459.7% during the 2nd quarter. Hanseatic Management Services Inc. now owns 1,942 shares of the scientific and technical instruments company’s stock worth $155,000 after purchasing an additional 1,595 shares during the period. 42.09% of the stock is owned by institutional investors and hedge funds.
GRMN has been the topic of a number of recent analyst reports. BidaskClub raised Garmin from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 9th. ValuEngine lowered Garmin from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Tigress Financial reissued a “buy” rating on shares of Garmin in a report on Friday, August 16th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $78.66.
Shares of GRMN opened at $87.46 on Friday. The business has a 50-day moving average of $84.56 and a 200 day moving average of $81.65. Garmin Ltd. has a fifty-two week low of $59.98 and a fifty-two week high of $89.72. The firm has a market cap of $17.33 billion, a P/E ratio of 23.70, a price-to-earnings-growth ratio of 3.06 and a beta of 0.91. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.76 and a current ratio of 2.39.
Garmin (NASDAQ:GRMN) last posted its earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $1.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.16. The business had revenue of $955.00 million during the quarter, compared to analyst estimates of $930.98 million. Garmin had a return on equity of 17.97% and a net margin of 21.32%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.99 EPS. As a group, research analysts predict that Garmin Ltd. will post 3.9 earnings per share for the current fiscal year.
In other Garmin news, insider Min H. Kao sold 842,410 shares of Garmin stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $78.37, for a total transaction of $66,019,671.70. Following the completion of the transaction, the insider now owns 1,779,429 shares of the company’s stock, valued at approximately $139,453,850.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Min H. Kao sold 98,347 shares of Garmin stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $87.39, for a total value of $8,594,544.33. Following the sale, the chairman now owns 1,644,429 shares of the company’s stock, valued at approximately $143,706,650.31. The disclosure for this sale can be found here. Insiders have sold a total of 3,584,937 shares of company stock valued at $280,921,017 in the last ninety days. Insiders own 23.83% of the company’s stock.
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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