WINTON GROUP Ltd boosted its stake in shares of Garmin Ltd. (NASDAQ:GRMN) by 442.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,221 shares of the scientific and technical instruments company’s stock after acquiring an additional 125,789 shares during the quarter. WINTON GROUP Ltd owned 0.08% of Garmin worth $9,407,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Point72 Asia Hong Kong Ltd grew its holdings in shares of Garmin by 105.4% during the first quarter. Point72 Asia Hong Kong Ltd now owns 1,736 shares of the scientific and technical instruments company’s stock worth $102,000 after purchasing an additional 891 shares during the last quarter. Flagship Harbor Advisors LLC bought a new stake in shares of Garmin during the second quarter worth $108,000. Sun Life Financial INC grew its holdings in shares of Garmin by 1,601.7% during the second quarter. Sun Life Financial INC now owns 1,974 shares of the scientific and technical instruments company’s stock worth $120,000 after purchasing an additional 1,858 shares during the last quarter. Fort L.P. bought a new stake in shares of Garmin during the second quarter worth $121,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Garmin by 3,291.9% during the second quarter. Tower Research Capital LLC TRC now owns 2,103 shares of the scientific and technical instruments company’s stock worth $128,000 after purchasing an additional 2,041 shares during the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.
In other news, Chairman Min H. Kao sold 125,796 shares of the firm’s stock in a transaction dated Wednesday, October 10th. The stock was sold at an average price of $65.38, for a total transaction of $8,224,542.48. Following the sale, the chairman now owns 1,901,429 shares of the company’s stock, valued at $124,315,428.02. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Sean Biddlecombe sold 1,308 shares of the firm’s stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $64.89, for a total value of $84,876.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,002,985 shares of company stock worth $258,424,487. 17.85% of the stock is currently owned by insiders.
GRMN has been the topic of several recent research reports. BidaskClub cut Garmin from a “buy” rating to a “hold” rating in a report on Wednesday, August 15th. ValuEngine upgraded Garmin from a “hold” rating to a “buy” rating in a report on Tuesday, July 10th. Morgan Stanley set a $77.00 price target on Garmin and gave the company an “equal weight” rating in a report on Friday, September 21st. Finally, Longbow Research set a $72.00 price target on Garmin and gave the company a “buy” rating in a report on Thursday, July 19th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $67.40.
GRMN traded down $0.38 during midday trading on Friday, reaching $62.59. 1,553,411 shares of the company were exchanged, compared to its average volume of 1,057,289. Garmin Ltd. has a one year low of $54.57 and a one year high of $70.77. The stock has a market cap of $13.88 billion, a P/E ratio of 21.29, a price-to-earnings-growth ratio of 2.89 and a beta of 0.98.
Garmin (NASDAQ:GRMN) last issued its earnings results on Wednesday, August 1st. The scientific and technical instruments company reported $0.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.12. Garmin had a return on equity of 15.98% and a net margin of 18.72%. The firm had revenue of $894.50 million for the quarter, compared to analysts’ expectations of $844.76 million. During the same quarter last year, the business earned $0.88 earnings per share. The company’s revenue was up 7.6% compared to the same quarter last year. Equities analysts expect that Garmin Ltd. will post 3.3 earnings per share for the current fiscal year.
Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices worldwide. It operates through five segments: Auto, Aviation, Marine, Outdoor, and Fitness. The Auto segment offers personal navigation devices; infotainment systems; and action cameras, as well as mobile applications under the Garmin and NAVIGON names.
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