1 week Ago By ABMN Staff
Arrowstreet Capital Limited Partnership increased its position in shares of Garmin Ltd. ( NYSE:GRMN – Free Report ) by 229.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission.
The institutional investor owned 24,203 shares of the scientific and technical instruments company’s stock after acquiring an additional 16,850 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Garmin were worth $4,992,000 as of its most recent filing with the Securities and Exchange Commission. Other hedge funds have also added to or reduced their stakes in the company.
HighTower Advisors LLC increased its stake in shares of Garmin by 12.0% in the 3rd quarter. HighTower Advisors LLC now owns 54,922 shares of the scientific and technical instruments company’s stock valued at $9,672,000 after purchasing an additional 5,890 shares during the last quarter.
Janus Henderson Group PLC grew its position in Garmin by 5.7% in the third quarter. Janus Henderson Group PLC now owns 19,564 shares of the scientific and technical instruments company’s stock valued at $3,444,000 after acquiring an additional 1,060 shares during the last quarter.
Stifel Financial Corp raised its stake in Garmin by 19.7% during the third quarter. Stifel Financial Corp now owns 36,387 shares of the scientific and technical instruments company’s stock worth $6,406,000 after acquiring an additional 5,989 shares in the last quarter.
National Bank of Canada FI lifted its holdings in shares of Garmin by 22.7% in the third quarter. National Bank of Canada FI now owns 15,584 shares of the scientific and technical instruments company’s stock worth $2,743,000 after acquiring an additional 2,883 shares during the last quarter.
Finally, XTX Topco Ltd bought a new stake in shares of Garmin during the 3rd quarter valued at approximately $668,000. 81.60% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth Several equities analysts recently commented on the stock. Barclays increased their price objective on shares of Garmin from $158.00 to $188.
00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. increased their price target on Garmin from $219.
00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Tigress Financial boosted their price objective on Garmin from $265.
00 to $285.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, February 26th. Finally, Morgan Stanley upgraded Garmin to a “sell” rating and increased their target price for the company from $164.
00 to $171.00 in a research report on Tuesday, February 11th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the stock.
According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $210.80.
Insider Activity In other Garmin news, VP Susan Lyman sold 2,829 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $215.51, for a total value of $609,677.
79. Following the transaction, the vice president now directly owns 8,432 shares of the company’s stock, valued at approximately $1,817,180.32.
The trade was a 25.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink .
Also, CEO Clifton A. Pemble sold 7,202 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $227.
14, for a total value of $1,635,862.28. Following the transaction, the chief executive officer now owns 149,525 shares in the company, valued at $33,963,108.
50. The trade was a 4.60 % decrease in their ownership of the stock.
The disclosure for this sale can be found here . In the last three months, insiders have sold 24,342 shares of company stock valued at $5,486,094. 19.
54% of the stock is currently owned by insiders. Garmin Stock Up 1.1 % Shares of Garmin stock opened at $180.
48 on Tuesday. The stock has a market cap of $34.73 billion, a price-to-earnings ratio of 24.
69, a P/E/G ratio of 1.36 and a beta of 0.92.
Garmin Ltd. has a twelve month low of $138.86 and a twelve month high of $246.
50. The company’s fifty day moving average is $215.36 and its 200 day moving average is $204.
13. Garmin ( NYSE:GRMN – Get Free Report ) last released its quarterly earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.
41 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.51.
The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.70 billion.
Garmin had a return on equity of 19.31% and a net margin of 22.42%.
The business’s revenue was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.
72 EPS. As a group, equities analysts anticipate that Garmin Ltd. will post 7.
8 earnings per share for the current fiscal year. Garmin Dividend Announcement The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be given a $0.
90 dividend. The ex-dividend date is Friday, March 13th. This represents a $3.
60 dividend on an annualized basis and a dividend yield of 1.99%. Garmin’s dividend payout ratio (DPR) is currently 49.
25%. Garmin Company 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. Read More Want to see what other hedge funds are holding GRMN? Visit HoldingsChannel.
com to get the latest 13F filings and insider trades for Garmin Ltd. ( NYSE:GRMN – Free Report ). Receive News & Ratings for Garmin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Garmin and related companies with MarketBeat.
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