Dimensional Fund Advisors LP Purchases 13,968 Shares of Garmin Ltd. (NYSE:GRMN)

Dimensional Fund Advisors LP increased its position in Garmin Ltd. (NYSE:GRMN) by 0.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,735,623 shares of the scientific and technical instruments company’s stock after buying an additional 13,968 shares during the period. Dimensional Fund Advisors LP owned about 0.90% of Garmin worth $282,761,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dorsey & Whitney Trust CO LLC grew its position in shares of Garmin by 3.3% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 2,309 shares of the scientific and technical instruments company’s stock worth $344,000 after purchasing an additional 73 shares in the last quarter. UMB Bank n.a. lifted its holdings in Garmin by 2.6% in the 2nd quarter. UMB Bank n.a. now owns 2,879 shares of the scientific and technical instruments company’s stock worth $469,000 after purchasing an additional 74 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in Garmin by 17.6% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 542 shares of the scientific and technical instruments company’s stock worth $81,000 after purchasing an additional 81 shares in the last quarter. 1620 Investment Advisors Inc. lifted its holdings in Garmin by 4.0% in the 4th quarter. 1620 Investment Advisors Inc. now owns 2,168 shares of the scientific and technical instruments company’s stock worth $279,000 after purchasing an additional 84 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its holdings in Garmin by 3.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,629 shares of the scientific and technical instruments company’s stock worth $428,000 after purchasing an additional 86 shares in the last quarter. 73.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GRMN has been the topic of a number of research analyst reports. Barclays cut Garmin from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $181.00 to $133.00 in a report on Friday, September 13th. StockNews.com cut Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Finally, Bank of America cut Garmin from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $165.00 to $150.00 in a report on Wednesday, May 22nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $151.33.

Garmin Stock Performance

NYSE GRMN opened at $171.58 on Wednesday. The company has a market cap of $32.96 billion, a P/E ratio of 24.20, a P/E/G ratio of 3.16 and a beta of 1.00. The business’s 50 day moving average price is $174.22 and its 200-day moving average price is $161.98. Garmin Ltd. has a fifty-two week low of $99.61 and a fifty-two week high of $184.42.

Garmin (NYSE:GRMN) last released its earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.18. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.42 billion. Garmin had a return on equity of 17.09% and a net margin of 24.36%. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.45 EPS. As a group, equities analysts predict that Garmin Ltd. will post 6.05 EPS for the current year.

Insiders Place Their Bets

In other Garmin news, Director Philip Straub sold 2,750 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $181.46, for a total value of $499,015.00. Following the sale, the director now owns 88,622 shares in the company, valued at $16,081,348.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Cheng-Wei Wang sold 10,055 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the transaction, the insider now owns 40,965 shares in the company, valued at $7,257,359.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Philip Straub sold 2,750 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $181.46, for a total value of $499,015.00. Following the transaction, the director now owns 88,622 shares in the company, valued at approximately $16,081,348.12. The disclosure for this sale can be found here. Insiders have sold a total of 12,892 shares of company stock worth $2,296,174 over the last quarter. Company insiders own 19.54% of the company’s stock.

Garmin Company Profile

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.