Aperio Group LLC Has $3.13 Million Stake in Garmin Ltd. (NASDAQ:GRMN)

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Aperio Group LLC reduced its stake in shares of Garmin Ltd. (NASDAQ:GRMN) by 12.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,131 shares of the scientific and technical instruments company’s stock after selling 7,291 shares during the period. Aperio Group LLC’s holdings in Garmin were worth $3,131,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. boosted its position in Garmin by 1.3% during the fourth quarter. BlackRock Inc. now owns 11,270,906 shares of the scientific and technical instruments company’s stock worth $671,406,000 after acquiring an additional 141,665 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Garmin by 5.9% during the first quarter. Robeco Institutional Asset Management B.V. now owns 2,130,748 shares of the scientific and technical instruments company’s stock worth $125,662,000 after acquiring an additional 117,841 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its position in Garmin by 0.6% during the fourth quarter. Disciplined Growth Investors Inc. MN now owns 1,624,085 shares of the scientific and technical instruments company’s stock worth $96,747,000 after acquiring an additional 9,409 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Garmin by 14.6% in the 4th quarter. Geode Capital Management LLC now owns 1,506,624 shares of the scientific and technical instruments company’s stock valued at $89,595,000 after purchasing an additional 191,405 shares during the last quarter. Finally, Schroder Investment Management Group boosted its holdings in Garmin by 12.6% in the 4th quarter. Schroder Investment Management Group now owns 1,460,465 shares of the scientific and technical instruments company’s stock valued at $87,000,000 after purchasing an additional 163,211 shares during the last quarter. Institutional investors own 39.92% of the company’s stock.

Shares of Garmin traded up $0.09, reaching $60.21, during trading hours on Friday, according to MarketBeat Ratings. The company had a trading volume of 43,306 shares, compared to its average volume of 745,053. Garmin Ltd. has a 12-month low of $49.80 and a 12-month high of $65.96. The company has a market capitalization of $11.58 billion, a PE ratio of 20.49, a P/E/G ratio of 2.34 and a beta of 0.99.

Garmin (NASDAQ:GRMN) last issued its quarterly earnings results on Wednesday, May 2nd. The scientific and technical instruments company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.12. Garmin had a net margin of 18.57% and a return on equity of 15.66%. The business had revenue of $711.00 million during the quarter, compared to the consensus estimate of $670.71 million. During the same period in the previous year, the firm posted $0.52 earnings per share. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. equities analysts forecast that Garmin Ltd. will post 3.14 EPS for the current fiscal year.

In related news, VP Danny J. Bartel sold 1,548 shares of Garmin stock in a transaction on Thursday, May 17th. The shares were sold at an average price of $59.69, for a total value of $92,400.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Min H. Kao sold 50,000 shares of Garmin stock in a transaction on Wednesday, June 20th. The stock was sold at an average price of $61.19, for a total transaction of $3,059,500.00. Following the completion of the sale, the chairman now owns 5,680,856 shares of the company’s stock, valued at approximately $347,611,578.64. The disclosure for this sale can be found here. Insiders sold 3,092,381 shares of company stock worth $185,712,525 over the last three months. Corporate insiders own 17.85% of the company’s stock.

Several brokerages have recently commented on GRMN. Robert W. Baird restated a “neutral” rating and issued a $60.00 price objective (up from $57.00) on shares of Garmin in a report on Thursday, February 22nd. BidaskClub raised shares of Garmin from a “hold” rating to a “buy” rating in a research note on Wednesday, May 30th. ValuEngine downgraded shares of Garmin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Tigress Financial reissued a “buy” rating on shares of Garmin in a research report on Monday, March 12th. Finally, Zacks Investment Research downgraded shares of Garmin from a “buy” rating to a “hold” rating in a research report on Friday, March 23rd. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $60.40.

Garmin Company Profile

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.

Institutional Ownership by Quarter for Garmin (NASDAQ:GRMN)

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