Garmin Ltd. (NYSE:GRMN) Shares Purchased by Czech National Bank

Czech National Bank increased its position in shares of Garmin Ltd. (NYSE:GRMN) by 7.0% during the third quarter, Holdings Channel reports. The fund owned 31,324 shares of the scientific and technical instruments company’s stock after acquiring an additional 2,043 shares during the quarter. Czech National Bank’s holdings in Garmin were worth $5,514,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new position in shares of Garmin in the 1st quarter valued at $1,389,000. LBP AM SA boosted its holdings in shares of Garmin by 81.4% in the 1st quarter. LBP AM SA now owns 7,284 shares of the scientific and technical instruments company’s stock valued at $1,084,000 after purchasing an additional 3,268 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of Garmin by 3.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 173,715 shares of the scientific and technical instruments company’s stock valued at $25,861,000 after purchasing an additional 5,945 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of Garmin by 51.7% in the 1st quarter. Cetera Investment Advisers now owns 28,395 shares of the scientific and technical instruments company’s stock valued at $4,227,000 after purchasing an additional 9,681 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Garmin by 4.4% in the 1st quarter. Russell Investments Group Ltd. now owns 178,073 shares of the scientific and technical instruments company’s stock valued at $26,500,000 after purchasing an additional 7,553 shares during the last quarter. Institutional investors and hedge funds own 73.41% of the company’s stock.

Garmin Price Performance

Garmin stock opened at $165.64 on Friday. Garmin Ltd. has a 12-month low of $99.61 and a 12-month high of $184.42. The company has a market capitalization of $31.82 billion, a price-to-earnings ratio of 23.36, a price-to-earnings-growth ratio of 3.04 and a beta of 0.99. The firm’s fifty day moving average price is $173.93 and its 200 day moving average price is $164.80.

Garmin (NYSE:GRMN) last released its quarterly earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 earnings per share (EPS) for the quarter, topping 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 net margin of 24.36% and a return on equity of 17.09%. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.45 EPS. Analysts forecast that Garmin Ltd. will post 6.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Tigress Financial raised their target price 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. Barclays downgraded shares of Garmin from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $181.00 to $133.00 in a research note on Friday, September 13th. Morgan Stanley downgraded shares of Garmin from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $155.00 to $138.00 in a research note on Monday. Finally, StockNews.com downgraded shares of Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $158.50.

Insider Transactions at Garmin

In other news, Director Philip Straub sold 2,750 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $181.46, for a total value of $499,015.00. Following the completion of the sale, the director now owns 88,622 shares of the company’s stock, valued at approximately $16,081,348.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Philip Straub sold 2,750 shares of Garmin stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $181.46, for a total value of $499,015.00. Following the completion of the transaction, the director now directly owns 88,622 shares of the company’s stock, valued at approximately $16,081,348.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Cheng-Wei Wang sold 10,055 shares of Garmin stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the completion of the transaction, the insider now directly owns 40,965 shares of the company’s stock, valued at $7,257,359.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,892 shares of company stock valued at $2,296,174. Insiders own 19.54% of the company’s stock.

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.