Garmin Ltd. (NYSE:GRMN) Shares Bought by Glenmede Trust Co. NA

Glenmede Trust Co. NA raised its stake in shares of Garmin Ltd. (NYSE:GRMN) by 44.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 2,326 shares of the scientific and technical instruments company’s stock after buying an additional 712 shares during the period. Glenmede Trust Co. NA’s holdings in Garmin were worth $409,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. FMR LLC boosted its position in Garmin by 40.8% during the third quarter. FMR LLC now owns 3,775,154 shares of the scientific and technical instruments company’s stock worth $664,540,000 after acquiring an additional 1,093,219 shares during the last quarter. Select Equity Group L.P. lifted its stake in shares of Garmin by 0.6% in the 2nd quarter. Select Equity Group L.P. now owns 2,006,563 shares of the scientific and technical instruments company’s stock valued at $326,909,000 after purchasing an additional 11,666 shares in the last quarter. Dimensional Fund Advisors LP lifted 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 valued at $282,761,000 after purchasing an additional 13,968 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of Garmin by 34.0% in the 2nd 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 purchasing an additional 278,990 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in shares of Garmin by 2.3% during the second quarter. Thrivent Financial for Lutherans now owns 793,914 shares of the scientific and technical instruments company’s stock worth $129,345,000 after purchasing an additional 17,634 shares in the last quarter. Institutional investors and hedge funds own 73.41% of the company’s stock.

Garmin Stock Performance

GRMN opened at $215.64 on Thursday. Garmin Ltd. has a 1-year low of $119.15 and a 1-year high of $216.44. The company has a 50-day moving average of $189.25 and a 200-day moving average of $176.39. The company has a market capitalization of $41.41 billion, a P/E ratio of 27.37, a PEG ratio of 1.41 and a beta of 0.97.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.53. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period in the previous year, the company earned $1.41 earnings per share. Garmin’s quarterly revenue was up 24.1% on a year-over-year basis. As a group, sell-side analysts expect that Garmin Ltd. will post 7.01 earnings per share for the current fiscal year.

Insider Activity at Garmin

In other Garmin news, Director Sean Biddlecombe sold 587 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $210.10, for a total transaction of $123,328.70. Following the completion of the sale, the director now owns 6,147 shares in the company, valued at $1,291,484.70. The trade was a 8.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 19.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. StockNews.com cut Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Morgan Stanley lowered shares of Garmin from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $155.00 to $138.00 in a report on Monday, October 7th. Barclays boosted their price objective on shares of Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Finally, Tigress Financial boosted their price objective on shares of Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 19th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $162.67.

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.