Cerity Partners LLC Has $7.58 Million Stake in Garmin Ltd. (NYSE:GRMN)

Cerity Partners LLC grew its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 53.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,035 shares of the scientific and technical instruments company’s stock after buying an additional 14,912 shares during the quarter. Cerity Partners LLC’s holdings in Garmin were worth $7,575,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. California State Teachers Retirement System boosted its holdings in shares of Garmin by 1.3% in the 1st quarter. California State Teachers Retirement System now owns 252,252 shares of the scientific and technical instruments company’s stock valued at $37,553,000 after buying an additional 3,317 shares during the last quarter. Tidal Investments LLC grew its position in shares of Garmin by 7.2% in the 1st quarter. Tidal Investments LLC now owns 11,553 shares of the scientific and technical instruments company’s stock valued at $1,719,000 after acquiring an additional 780 shares during the period. LBP AM SA increased its stake in shares of Garmin by 81.4% during the 1st quarter. LBP AM SA now owns 7,284 shares of the scientific and technical instruments company’s stock worth $1,084,000 after purchasing an additional 3,268 shares during the last quarter. iA Global Asset Management Inc. raised its holdings in shares of Garmin by 328.3% in the 1st quarter. iA Global Asset Management Inc. now owns 9,894 shares of the scientific and technical instruments company’s stock valued at $1,473,000 after purchasing an additional 7,584 shares during the period. Finally, Swedbank AB acquired a new stake in Garmin in the 1st quarter valued at about $13,670,000. 73.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Barclays upped their price objective on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research note on Friday, November 1st. Tigress Financial lifted their price objective on shares of Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 19th. StockNews.com downgraded shares of Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Finally, Morgan Stanley downgraded shares of Garmin from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $155.00 to $138.00 in a report on Monday, October 7th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $162.67.

Garmin Stock Down 0.4 %

Shares of Garmin stock opened at $212.09 on Thursday. The company has a 50-day simple moving average of $185.28 and a two-hundred day simple moving average of $174.89. Garmin Ltd. has a twelve month low of $119.15 and a twelve month high of $216.44. The stock has a market capitalization of $40.73 billion, a price-to-earnings ratio of 26.91, a price-to-earnings-growth ratio of 1.42 and a beta of 0.97.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.53. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the business posted $1.41 earnings per share. The firm’s quarterly revenue was up 24.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Garmin Ltd. will post 7.01 earnings per share for the current fiscal year.

Insider Transactions at Garmin

In related news, Director Philip Straub sold 2,750 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $181.46, for a total value of $499,015.00. Following the sale, the director now directly owns 88,622 shares of the company’s stock, valued at $16,081,348.12. This trade represents a 3.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Sean Biddlecombe sold 587 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $210.10, for a total value of $123,328.70. Following the transaction, the director now directly owns 6,147 shares of the company’s stock, valued at approximately $1,291,484.70. The trade was a 8.72 % decrease in their position. The disclosure for this sale can be found here. 19.54% of the stock is currently owned by insiders.

Garmin Company 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.