Van ECK Associates Corp Trims Stock Position in Garmin Ltd. (NYSE:GRMN)

Van ECK Associates Corp lowered its stake in shares of Garmin Ltd. (NYSE:GRMNGet Rating) by 3.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 18,273 shares of the scientific and technical instruments company’s stock after selling 689 shares during the period. Van ECK Associates Corp’s holdings in Garmin were worth $1,468,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Garmin news, CEO Clifton A. Pemble sold 19,836 shares of the business’s stock in a transaction that occurred on Thursday, November 10th. The stock was 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 transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Clifton A. Pemble sold 19,836 shares of the business’s stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $90.00, for a total transaction of $1,785,240.00. Following the transaction, the chief executive officer now directly owns 125,664 shares in the company, valued at approximately $11,309,760. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Matthew Munn sold 1,797 shares of the business’s stock in a transaction that occurred on Thursday, December 15th. The stock was sold at an average price of $92.96, for a total value of $167,049.12. Following the transaction, the director now owns 11,340 shares in the company, valued at $1,054,166.40. The disclosure for this sale can be found here. In the last three months, insiders sold 21,836 shares of company stock worth $1,969,818. Corporate insiders own 20.34% of the company’s stock.

Garmin Trading Up 0.1 %

NYSE:GRMN opened at $98.21 on Friday. Garmin Ltd. has a 12 month low of $76.37 and a 12 month high of $133.79. The stock has a 50 day moving average of $92.85 and a two-hundred day moving average of $90.75. The firm has a market cap of $18.82 billion, a P/E ratio of 19.68, a price-to-earnings-growth ratio of 3.34 and a beta of 0.94.

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

Garmin Company 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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