Mutual of America Capital Management LLC Sells 443 Shares of Garmin Ltd. (NYSE:GRMN)

Mutual of America Capital Management LLC reduced its position in Garmin Ltd. (NYSE:GRMN) by 2.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,947 shares of the scientific and technical instruments company’s stock after selling 443 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Garmin were worth $3,335,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of GRMN. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Garmin in the 2nd quarter worth approximately $31,000. Family Firm Inc. bought a new stake in Garmin in the second quarter valued at $35,000. Benjamin Edwards Inc. raised its stake in Garmin by 73.3% during the second quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock worth $38,000 after acquiring an additional 99 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Garmin during the second quarter valued at $46,000. Finally, West Oak Capital LLC acquired a new stake in shares of Garmin in the 2nd quarter valued at $53,000. Institutional investors and hedge funds own 73.41% of the company’s stock.

Garmin Price Performance

GRMN stock opened at $210.22 on Friday. The stock has a market capitalization of $40.37 billion, a PE ratio of 26.68, a price-to-earnings-growth ratio of 3.16 and a beta of 0.97. The company has a 50 day moving average price of $182.02 and a 200 day moving average price of $173.65. Garmin Ltd. has a fifty-two week low of $119.15 and a fifty-two week high of $215.55.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.53. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.44 billion. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The firm’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.41 earnings per share. As a group, equities analysts expect that Garmin Ltd. will post 6.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on GRMN shares. Tigress Financial lifted their price target on shares of Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a report on Thursday, September 19th. Morgan Stanley downgraded Garmin from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $155.00 to $138.00 in a report on Monday, October 7th. StockNews.com cut Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Finally, Barclays lifted their price objective on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research report on Friday, November 1st. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $162.67.

Insider Transactions at Garmin

In other news, Director Sean Biddlecombe sold 587 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $210.10, for a total transaction of $123,328.70. Following the completion of the transaction, the director now directly owns 6,147 shares in the company, valued at approximately $1,291,484.70. The trade was a 8.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Philip Straub sold 2,750 shares of Garmin stock in a transaction that occurred 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 in the company, valued at $16,081,348.12. The trade was a 3.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,424 shares of company stock worth $638,159 in the last quarter. 19.54% of the stock is owned by company insiders.

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.