TD Asset Management Inc Increases Position in Garmin Ltd. (NYSE:GRMN)

TD Asset Management Inc lifted its holdings in shares of Garmin Ltd. (NYSE:GRMNFree Report) by 59.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 112,346 shares of the scientific and technical instruments company’s stock after acquiring an additional 41,671 shares during the quarter. TD Asset Management Inc owned 0.06% of Garmin worth $14,441,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wetzel Investment Advisors Inc. purchased a new stake in shares of Garmin during the fourth quarter worth about $26,000. Frazier Financial Advisors LLC bought a new stake in Garmin in the fourth quarter valued at about $33,000. Blue Trust Inc. increased its holdings in Garmin by 35.2% in the fourth quarter. Blue Trust Inc. now owns 380 shares of the scientific and technical instruments company’s stock valued at $49,000 after buying an additional 99 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in Garmin in the fourth quarter valued at about $51,000. Finally, Headinvest LLC bought a new stake in Garmin in the third quarter valued at about $41,000. 73.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on GRMN shares. Bank of America lowered Garmin from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $165.00 to $150.00 in a report on Wednesday, May 22nd. StockNews.com lowered Garmin from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. Barrington Research upped their target price on Garmin from $119.00 to $140.00 and gave the company an “equal weight” rating in a report on Thursday, February 22nd. Tigress Financial upped their target price on Garmin from $175.00 to $210.00 and gave the company a “strong-buy” rating in a report on Tuesday, May 14th. Finally, JPMorgan Chase & Co. upped their target price on Garmin from $155.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $156.83.

Check Out Our Latest Research Report on GRMN

Garmin Trading Up 0.7 %

Shares of NYSE GRMN opened at $163.85 on Monday. The stock has a 50 day simple moving average of $154.94 and a 200-day simple moving average of $137.68. The company has a market cap of $31.47 billion, a PE ratio of 23.11, a P/E/G ratio of 3.53 and a beta of 0.98. Garmin Ltd. has a 12-month low of $99.61 and a 12-month high of $171.64.

Garmin (NYSE:GRMNGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The scientific and technical instruments company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.42. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.25 billion. Garmin had a return on equity of 17.26% and a net margin of 24.96%. The business’s revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.02 earnings per share. Sell-side analysts forecast that Garmin Ltd. will post 5.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Garmin news, Director Jonathan Burrell sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $146.15, for a total value of $2,192,250.00. Following the completion of the sale, the director now directly owns 623,834 shares in the company, valued at $91,173,339.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 75,000 shares of company stock worth $10,790,850 over the last ninety days. Company insiders own 19.54% of the company’s stock.

Garmin Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Garmin (NYSE:GRMN)

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