Resources Investment Advisors LLC. bought a new stake in Garmin Ltd. (NASDAQ:GRMN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,936 shares of the scientific and technical instruments company’s stock, valued at approximately $232,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Sei Investments Co. raised its holdings in shares of Garmin by 44.7% during the 4th quarter. Sei Investments Co. now owns 31,936 shares of the scientific and technical instruments company’s stock valued at $3,849,000 after purchasing an additional 9,863 shares in the last quarter. Simmons Bank acquired a new position in Garmin during the fourth quarter worth $228,000. Railway Pension Investments Ltd raised its holdings in Garmin by 9.4% during the fourth quarter. Railway Pension Investments Ltd now owns 60,453 shares of the scientific and technical instruments company’s stock valued at $7,234,000 after buying an additional 5,200 shares in the last quarter. AGF Investments Inc. lifted its position in shares of Garmin by 7,490.0% in the fourth quarter. AGF Investments Inc. now owns 260,945 shares of the scientific and technical instruments company’s stock worth $31,225,000 after buying an additional 257,507 shares during the last quarter. Finally, AGF Investments America Inc. bought a new stake in shares of Garmin during the 4th quarter worth about $7,338,000. Hedge funds and other institutional investors own 49.56% of the company’s stock.
In other Garmin news, CEO Clifton A. Pemble sold 8,494 shares of Garmin stock in a transaction on Wednesday, December 16th. The shares were sold at an average price of $118.32, for a total transaction of $1,005,010.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 22.00% of the stock is owned by company insiders.
Garmin (NASDAQ:GRMN) last announced its quarterly earnings data on Tuesday, February 16th. The scientific and technical instruments company reported $1.73 EPS for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.34. Garmin had a return on equity of 18.38% and a net margin of 25.89%. During the same period in the prior year, the company posted $1.29 earnings per share. Research analysts predict that Garmin Ltd. will post 4.78 EPS for the current fiscal year.
Several research firms recently weighed in on GRMN. Zacks Investment Research upgraded Garmin from a “hold” rating to a “buy” rating and set a $109.00 target price for the company in a report on Tuesday, November 3rd. Morgan Stanley boosted their price objective on shares of Garmin from $106.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 16th. Tigress Financial reiterated a “buy” rating on shares of Garmin in a research note on Sunday, November 22nd. Bank of America reissued a “buy” rating and set a $146.00 target price on shares of Garmin in a research report on Thursday, January 14th. Finally, Credit Suisse Group raised their price target on Garmin from $107.00 to $129.00 and gave the company a “neutral” rating in a research report on Wednesday, February 17th. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Garmin has an average rating of “Buy” and an average price target of $122.88.
Garmin Company Profile
Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices in the Americas, the Asia Pacific, Australian Continent, Europe, the Middle East, and Africa. Its Fitness segment offers running and multi-sport watches; cycling products; activity tracking and smartwatch devices; and fitness and cycling accessories.
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