Garmin Ltd. (NYSE:GRMN) is Disciplined Growth Investors Inc. MN’s 3rd Largest Position

Disciplined Growth Investors Inc. MN cut its holdings in Garmin Ltd. (NYSE:GRMN) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,352,359 shares of the scientific and technical instruments company’s stock after selling 10,696 shares during the quarter. Garmin makes up about 4.1% of Disciplined Growth Investors Inc. MN’s holdings, making the stock its 3rd biggest holding. Disciplined Growth Investors Inc. MN’s holdings in Garmin were worth $220,326,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of GRMN. Select Equity Group L.P. grew its holdings in Garmin by 0.6% in the second quarter. Select Equity Group L.P. now owns 2,006,563 shares of the scientific and technical instruments company’s stock worth $326,909,000 after purchasing an additional 11,666 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Garmin by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,735,623 shares of the scientific and technical instruments company’s stock worth $282,761,000 after buying an additional 13,968 shares during the last quarter. Boston Partners increased its position in Garmin by 4.3% during the 1st quarter. Boston Partners now owns 1,416,130 shares of the scientific and technical instruments company’s stock valued at $210,799,000 after buying an additional 58,343 shares in the last quarter. Marshall Wace LLP raised its stake in Garmin by 34.0% during the second quarter. Marshall Wace LLP now owns 1,098,443 shares of the scientific and technical instruments company’s stock valued at $178,958,000 after buying an additional 278,990 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Garmin by 28.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 862,527 shares of the scientific and technical instruments company’s stock worth $110,869,000 after acquiring an additional 190,739 shares in the last quarter. 73.41% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

GRMN has been the subject of several analyst reports. StockNews.com downgraded Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Tigress Financial raised their price objective on shares of Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 19th. Finally, Barclays downgraded shares of Garmin from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $181.00 to $133.00 in a research note on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $152.17.

Garmin Stock Performance

NYSE GRMN opened at $173.99 on Friday. Garmin Ltd. has a one year low of $99.61 and a one year high of $184.42. The stock has a 50-day moving average of $174.80 and a 200 day moving average of $163.46. The company has a market capitalization of $33.42 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 3.04 and a beta of 1.00.

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

Garmin 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.