Sumitomo Mitsui DS Asset Management Company Ltd Sells 175 Shares of Garmin Ltd. (NYSE:GRMN)

Sumitomo Mitsui DS Asset Management Company Ltd lowered its holdings in Garmin Ltd. (NYSE:GRMNGet Rating) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,546 shares of the scientific and technical instruments company’s stock after selling 175 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Garmin were worth $3,198,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Tradewinds Capital Management LLC raised its holdings in shares of Garmin by 33.3% in the 1st quarter. Tradewinds Capital Management LLC now owns 400 shares of the scientific and technical instruments company’s stock valued at $47,000 after purchasing an additional 100 shares in the last quarter. Louisiana State Employees Retirement System grew its position in shares of Garmin by 1.1% in the 1st quarter. Louisiana State Employees Retirement System now owns 9,600 shares of the scientific and technical instruments company’s stock worth $1,101,000 after buying an additional 100 shares during the last quarter. Insight Folios Inc grew its position in shares of Garmin by 2.4% in the 2nd quarter. Insight Folios Inc now owns 4,331 shares of the scientific and technical instruments company’s stock worth $426,000 after buying an additional 103 shares during the last quarter. Blair William & Co. IL grew its position in shares of Garmin by 1.7% in the 4th quarter. Blair William & Co. IL now owns 6,453 shares of the scientific and technical instruments company’s stock worth $879,000 after buying an additional 107 shares during the last quarter. Finally, Paradiem LLC grew its position in shares of Garmin by 1.4% in the 1st quarter. Paradiem LLC now owns 8,081 shares of the scientific and technical instruments company’s stock worth $923,000 after buying an additional 111 shares during the last quarter. Institutional investors own 62.50% of the company’s stock.

Garmin Trading Down 1.3 %

NYSE:GRMN opened at $84.39 on Thursday. Garmin Ltd. has a twelve month low of $84.37 and a twelve month high of $173.29. The company’s 50 day moving average is $95.34 and its two-hundred day moving average is $102.91. The company has a market cap of $16.28 billion, a PE ratio of 16.10, a P/E/G ratio of 3.18 and a beta of 0.97.

Garmin (NYSE:GRMNGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The scientific and technical instruments company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.42 by $0.02. Garmin had a net margin of 20.31% and a return on equity of 17.71%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the previous year, the business posted $1.68 EPS. The business’s quarterly revenue was down 6.5% compared to the same quarter last year. As a group, analysts expect that Garmin Ltd. will post 4.9 EPS for the current fiscal year.

Insider Buying and Selling at Garmin

In other Garmin news, CEO Clifton A. Pemble sold 9,550 shares of Garmin stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $90.00, for a total transaction of $859,500.00. Following the completion of the sale, the chief executive officer now directly owns 135,950 shares in the company, valued at approximately $12,235,500. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Clifton A. Pemble sold 16,089 shares of the business’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $97.81, for a total value of $1,573,665.09. Following the completion of the transaction, the chief executive officer now directly owns 145,500 shares in the company, valued at approximately $14,231,355. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Clifton A. Pemble sold 9,550 shares of the business’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $90.00, for a total transaction of $859,500.00. Following the completion of the transaction, the chief executive officer now owns 135,950 shares of the company’s stock, valued at $12,235,500. The disclosure for this sale can be found here. Company insiders own 20.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GRMN. Bank of America downgraded shares of Garmin from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $137.00 to $109.00 in a research report on Tuesday, August 2nd. TheStreet downgraded shares of Garmin from a “b” rating to a “c+” rating in a research report on Wednesday, July 27th. Tigress Financial dropped their target price on shares of Garmin from $208.00 to $165.00 and set a “strong-buy” rating on the stock in a research report on Friday, August 5th. Finally, Morgan Stanley dropped their target price on shares of Garmin from $127.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 14th. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Garmin presently has an average rating of “Moderate Buy” and a consensus target price of $134.75.

Garmin Company Profile

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Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices in the Americas, the Asia Pacific, Australian Continent, Europe, the Middle East, and Africa. Its Fitness segment offers running and multi-sport watches; cycling products; activity tracking and smartwatch devices; and fitness and cycling accessories.

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Institutional Ownership by Quarter for Garmin (NYSE:GRMN)

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