Garmin Ltd. (NYSE:GRMN) Shares Purchased by Czech National Bank

Czech National Bank lifted its stake in Garmin Ltd. (NYSE:GRMN) by 7.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 31,324 shares of the scientific and technical instruments company’s stock after acquiring an additional 2,043 shares during the quarter. Czech National Bank’s holdings in Garmin were worth $5,514,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Clearstead Trust LLC purchased a new stake in Garmin during the 1st quarter worth approximately $30,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Garmin in the 2nd quarter valued at approximately $31,000. Family Firm Inc. purchased a new stake in shares of Garmin in the 2nd quarter valued at approximately $35,000. Benjamin Edwards Inc. increased its position in shares of Garmin by 73.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock valued at $38,000 after purchasing an additional 99 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Garmin in the 2nd quarter valued at approximately $46,000. 73.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GRMN has been the topic of a number of recent analyst reports. Tigress Financial increased their price objective on shares of Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 19th. Morgan Stanley downgraded shares of Garmin from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $155.00 to $138.00 in a research report on Monday. StockNews.com downgraded shares of Garmin from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Finally, Barclays downgraded shares of Garmin from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $181.00 to $133.00 in a research report on Friday, September 13th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $158.50.

Garmin Stock Up 0.2 %

NYSE GRMN opened at $165.64 on Friday. The firm has a market cap of $31.82 billion, a P/E ratio of 23.36, a P/E/G ratio of 3.04 and a beta of 0.99. Garmin Ltd. has a 52-week low of $99.61 and a 52-week high of $184.42. The business’s 50-day moving average price is $173.93 and its 200 day moving average price is $164.80.

Garmin (NYSE:GRMN) last announced its earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.18. Garmin had a return on equity of 17.09% and a net margin of 24.36%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period last year, the business posted $1.45 EPS. The company’s revenue was up 14.3% on a year-over-year basis. As a group, analysts anticipate that Garmin Ltd. will post 6.05 earnings per share for the current year.

Insider Activity at Garmin

In related news, Director Philip Straub sold 2,750 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $181.46, for a total transaction of $499,015.00. Following the transaction, the director now owns 88,622 shares of the company’s stock, valued at $16,081,348.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Cheng-Wei Wang sold 10,055 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total value of $1,781,343.80. Following the sale, the insider now owns 40,965 shares in the company, valued at $7,257,359.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Philip Straub sold 2,750 shares of Garmin stock in a transaction on Friday, August 30th. The stock was sold at an average price of $181.46, for a total value of $499,015.00. Following the transaction, the director now directly owns 88,622 shares of the company’s stock, valued at approximately $16,081,348.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,892 shares of company stock worth $2,296,174 over the last 90 days. Company insiders own 19.54% of the company’s stock.

Garmin Profile

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.