Garmin Ltd. (NYSE:GRMN) Shares Acquired by Vontobel Holding Ltd.

Vontobel Holding Ltd. lifted its holdings in Garmin Ltd. (NYSE:GRMN) by 0.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,340 shares of the scientific and technical instruments company’s stock after purchasing an additional 227 shares during the quarter. Vontobel Holding Ltd.’s holdings in Garmin were worth $6,573,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GRMN. Sumitomo Life Insurance Co. boosted its holdings in Garmin by 0.9% in the third quarter. Sumitomo Life Insurance Co. now owns 6,686 shares of the scientific and technical instruments company’s stock worth $1,177,000 after acquiring an additional 61 shares in the last quarter. Elo Mutual Pension Insurance Co boosted its stake in Garmin by 0.5% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 14,056 shares of the scientific and technical instruments company’s stock worth $2,290,000 after purchasing an additional 70 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its position in Garmin by 3.3% during the 1st 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 during the last quarter. UMB Bank n.a. increased its stake in Garmin by 2.6% during the 2nd quarter. UMB Bank n.a. now owns 2,879 shares of the scientific and technical instruments company’s stock valued at $469,000 after purchasing an additional 74 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its holdings in shares of Garmin by 17.6% in the first quarter. Massmutual Trust Co. FSB ADV now owns 542 shares of the scientific and technical instruments company’s stock worth $81,000 after buying an additional 81 shares during the last quarter. 73.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Garmin

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

Garmin Stock Down 0.3 %

Garmin stock opened at $166.52 on Friday. The business’s 50-day moving average price is $174.03 and its 200 day moving average price is $165.46. The firm has a market cap of $31.98 billion, a price-to-earnings ratio of 23.49, a price-to-earnings-growth ratio of 2.85 and a beta of 0.99. Garmin Ltd. has a 52 week low of $99.61 and a 52 week high of $184.42.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.18. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Garmin had a net margin of 24.36% and a return on equity of 17.09%. The business’s revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the company earned $1.45 EPS. Equities analysts expect that Garmin Ltd. will post 6.08 EPS for the current year.

Wall Street Analyst Weigh In

GRMN has been the topic of several research reports. StockNews.com downgraded Garmin from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Barclays lowered Garmin from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $181.00 to $133.00 in a report on Friday, September 13th. Tigress Financial lifted their target price on Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 19th. Finally, Morgan Stanley downgraded shares of Garmin from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $155.00 to $138.00 in a report on Monday, October 7th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $158.50.

About Garmin

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.