Czech National Bank Purchases Shares of 17,933 Garmin Ltd. (NYSE:GRMN)

Czech National Bank purchased a new stake in shares of Garmin Ltd. (NYSE:GRMNGet Rating) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,933 shares of the scientific and technical instruments company’s stock, valued at approximately $1,440,000.

Other hedge funds have also modified their holdings of the company. Federated Hermes Inc. purchased a new position in shares of Garmin in the 2nd quarter valued at approximately $29,000. Clear Street Markets LLC raised its position in shares of Garmin by 403.2% in the 2nd quarter. Clear Street Markets LLC now owns 317 shares of the scientific and technical instruments company’s stock valued at $31,000 after purchasing an additional 254 shares during the last quarter. Rise Advisors LLC raised its position in shares of Garmin by 4,250.0% in the 3rd quarter. Rise Advisors LLC now owns 435 shares of the scientific and technical instruments company’s stock valued at $35,000 after purchasing an additional 425 shares during the last quarter. Trust Co. of Vermont purchased a new position in shares of Garmin in the 2nd quarter valued at approximately $49,000. Finally, Bogart Wealth LLC raised its position in Garmin by 10,020.0% during the 2nd quarter. Bogart Wealth LLC now owns 506 shares of the scientific and technical instruments company’s stock worth $50,000 after buying an additional 501 shares during the last quarter. 63.29% of the stock is owned by hedge funds and other institutional investors.

Garmin Price Performance

Shares of NYSE GRMN opened at $98.21 on Friday. The stock has a market capitalization of $18.82 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 3.34 and a beta of 0.94. Garmin Ltd. has a 12 month low of $76.37 and a 12 month high of $133.79. The firm’s 50 day simple moving average is $92.85 and its 200-day simple moving average is $90.75.

Garmin (NYSE:GRMNGet Rating) last issued its quarterly earnings data on Wednesday, October 26th. The scientific and technical instruments company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.14. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Garmin had a net margin of 19.54% and a return on equity of 17.13%. Analysts anticipate that Garmin Ltd. will post 4.95 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GRMN shares. Barclays started coverage on shares of Garmin in a research report on Wednesday, November 9th. They set an “equal weight” rating and a $97.00 price target for the company. Morgan Stanley reduced their price target on shares of Garmin from $96.00 to $91.00 and set an “equal weight” rating for the company in a research report on Monday, October 17th. Finally, StockNews.com started coverage on shares of Garmin in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $122.40.

Insider Transactions at Garmin

In related news, Director Matthew Munn sold 1,797 shares of Garmin stock in a transaction on Thursday, December 15th. The shares were sold at an average price of $92.96, for a total value of $167,049.12. Following the sale, the director now owns 11,340 shares of the company’s stock, valued at approximately $1,054,166.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Matthew Munn sold 1,797 shares of Garmin stock in a transaction on Thursday, December 15th. The shares were sold at an average price of $92.96, for a total value of $167,049.12. Following the sale, the director now owns 11,340 shares of the company’s stock, valued at approximately $1,054,166.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Clifton A. Pemble sold 19,836 shares of Garmin stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $90.00, for a total transaction of $1,785,240.00. Following the completion of the sale, the chief executive officer now directly owns 125,664 shares in the company, valued at approximately $11,309,760. The disclosure for this sale can be found here. Insiders have sold 21,836 shares of company stock valued at $1,969,818 in the last 90 days. 20.34% of the stock is currently owned by company insiders.

Garmin Profile

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Garmin Ltd. is a holding company, which engages in the provision of navigation, communications and information devices, most of which are enabled by Global Positioning System (GPS) technology. It operates through the following segments: Marine, Outdoor, Fitness, Auto OEM, Consumer Auto, and Aviation.

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Institutional Ownership by Quarter for Garmin (NYSE:GRMN)

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