Garmin Ltd. (NYSE:GRMN) Shares Acquired by Schroder Investment Management Group

Schroder Investment Management Group increased its holdings in shares of Garmin Ltd. (NYSE:GRMNFree Report) by 60.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 302,933 shares of the scientific and technical instruments company’s stock after buying an additional 113,951 shares during the period. Schroder Investment Management Group owned about 0.16% of Garmin worth $38,939,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GRMN. Atria Wealth Solutions Inc. lifted its position in shares of Garmin by 34.5% during the 3rd quarter. Atria Wealth Solutions Inc. now owns 7,436 shares of the scientific and technical instruments company’s stock valued at $782,000 after buying an additional 1,906 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Garmin by 4.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 813,137 shares of the scientific and technical instruments company’s stock valued at $85,542,000 after buying an additional 33,580 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Garmin by 42.6% during the 3rd quarter. Van ECK Associates Corp now owns 47,320 shares of the scientific and technical instruments company’s stock valued at $4,978,000 after buying an additional 14,126 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of Garmin by 6.8% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 12,952 shares of the scientific and technical instruments company’s stock valued at $1,363,000 after buying an additional 820 shares in the last quarter. Finally, Pathstone Family Office LLC lifted its position in shares of Garmin by 26.4% during the 3rd quarter. Pathstone Family Office LLC now owns 7,831 shares of the scientific and technical instruments company’s stock valued at $824,000 after buying an additional 1,637 shares in the last quarter. Hedge funds and other institutional investors own 73.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GRMN. StockNews.com upgraded Garmin from a “hold” rating to a “buy” rating in a report on Tuesday, June 4th. Tigress Financial raised their price objective on Garmin from $175.00 to $210.00 and gave the company a “strong-buy” rating in a report on Tuesday, May 14th. JPMorgan Chase & Co. raised their price objective on Garmin from $155.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Bank of America lowered Garmin from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $165.00 to $150.00 in a report on Wednesday, May 22nd. Finally, Barclays raised their price objective on Garmin from $140.00 to $166.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Garmin presently has a consensus rating of “Hold” and a consensus target price of $156.83.

Read Our Latest Research Report on GRMN

Garmin Stock Down 0.4 %

Shares of GRMN opened at $163.26 on Monday. Garmin Ltd. has a 52-week low of $99.61 and a 52-week high of $171.64. The company has a market capitalization of $31.36 billion, a PE ratio of 23.03, a price-to-earnings-growth ratio of 3.52 and a beta of 0.98. The stock has a fifty day simple moving average of $156.49 and a two-hundred day simple moving average of $139.22.

Garmin (NYSE:GRMNGet Free Report) last issued its earnings results on Wednesday, May 1st. The scientific and technical instruments company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period last year, the company earned $1.02 EPS. As a group, equities analysts anticipate that Garmin Ltd. will post 5.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Patrick Desbois sold 4,126 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $163.52, for a total transaction of $674,683.52. Following the completion of the sale, the executive vice president now directly owns 58,412 shares of the company’s stock, valued at approximately $9,551,530.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Garmin news, Director Jonathan Burrell sold 15,000 shares of Garmin stock in a transaction dated 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 transaction, the director now directly owns 623,834 shares of the company’s stock, valued at approximately $91,173,339.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Patrick Desbois sold 4,126 shares of Garmin stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $163.52, for a total value of $674,683.52. Following the completion of the transaction, the executive vice president now directly owns 58,412 shares of the company’s stock, valued at $9,551,530.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,126 shares of company stock valued at $5,100,284. 19.54% of the stock is currently owned by insiders.

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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