DekaBank Deutsche Girozentrale Purchases 357 Shares of Garmin Ltd. (NYSE:GRMN)

DekaBank Deutsche Girozentrale lifted its position in shares of Garmin Ltd. (NYSE:GRMN) by 0.1% in the third quarter, HoldingsChannel.com reports. The fund owned 308,787 shares of the scientific and technical instruments company’s stock after buying an additional 357 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Garmin were worth $54,356,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. GSA Capital Partners LLP bought a new position in shares of Garmin in the 1st quarter valued at $1,389,000. LBP AM SA raised its stake in Garmin by 81.4% during the first quarter. LBP AM SA now owns 7,284 shares of the scientific and technical instruments company’s stock worth $1,084,000 after acquiring an additional 3,268 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of Garmin by 3.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 173,715 shares of the scientific and technical instruments company’s stock worth $25,861,000 after acquiring an additional 5,945 shares during the last quarter. Cetera Investment Advisers boosted its stake 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 in the last quarter. Finally, Russell Investments Group Ltd. increased its position in Garmin by 4.4% during the 1st quarter. Russell Investments Group Ltd. now owns 178,073 shares of the scientific and technical instruments company’s stock worth $26,500,000 after purchasing an additional 7,553 shares in the last quarter. Institutional investors and hedge funds own 73.41% of the company’s stock.

Insider Activity

In other Garmin news, insider Cheng-Wei Wang sold 10,055 shares of the firm’s 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 completion of the sale, the insider now directly owns 40,965 shares in the company, valued at approximately $7,257,359.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Garmin news, insider Cheng-Wei Wang sold 10,055 shares of the firm’s stock in a transaction that occurred on 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 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 disclosure for this sale can be found here. Insiders sold 12,892 shares of company stock worth $2,296,174 in the last quarter. 19.54% of the stock is owned by corporate insiders.

Garmin Stock Up 0.2 %

GRMN stock opened at $162.30 on Monday. The firm has a market cap of $31.20 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 2.81 and a beta of 0.99. The company’s fifty day simple moving average is $173.31 and its 200 day simple moving average is $166.30. Garmin Ltd. has a 12-month low of $99.61 and a 12-month 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 EPS for the quarter, topping the consensus estimate of $1.40 by $0.18. Garmin had a return on equity of 17.09% and a net margin of 24.36%. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter last year, the firm posted $1.45 earnings per share. The firm’s revenue was up 14.3% on a year-over-year basis. Research analysts expect that Garmin Ltd. will post 6.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. StockNews.com downgraded Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Barclays cut Garmin from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $181.00 to $133.00 in a report on Friday, September 13th. Morgan Stanley lowered shares of Garmin from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $155.00 to $138.00 in a report on Monday, October 7th. Finally, Tigress Financial boosted their target price 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 equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $158.50.

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.