10,363 Shares in Garmin Ltd. $GRMN Purchased by Value Partners Investments Inc.

Value Partners Investments Inc. acquired a new position in Garmin Ltd. (NYSE:GRMN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,363 shares of the scientific and technical instruments company’s stock, valued at approximately $2,982,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Robertson Stephens Wealth Management LLC increased its holdings in shares of Garmin by 2.7% during the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 3,664 shares of the scientific and technical instruments company’s stock valued at $1,051,000 after purchasing an additional 95 shares in the last quarter. Frank Rimerman Advisors LLC lifted its stake in shares of Garmin by 0.8% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 6,240 shares of the scientific and technical instruments company’s stock valued at $1,790,000 after purchasing an additional 49 shares during the period. TD Waterhouse Canada Inc. lifted its stake in shares of Garmin by 22.1% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 509 shares of the scientific and technical instruments company’s stock valued at $144,000 after purchasing an additional 92 shares during the period. Pension & Wealth Management Advisors Inc. purchased a new stake in Garmin during the third quarter worth $56,000. Finally, V Square Quantitative Management LLC boosted its holdings in Garmin by 2.1% during the third quarter. V Square Quantitative Management LLC now owns 3,682 shares of the scientific and technical instruments company’s stock worth $1,056,000 after buying an additional 76 shares in the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Clifton Pemble sold 4,029 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $300.00, for a total value of $1,208,700.00. Following the completion of the sale, the chief executive officer owned 120,127 shares of the company’s stock, valued at approximately $36,038,100. The trade was a 3.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Cheng-Wei Wang sold 9,941 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $299.36, for a total transaction of $2,975,937.76. Following the completion of the sale, the insider directly owned 29,506 shares of the company’s stock, valued at approximately $8,832,916.16. The trade was a 25.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 16,108 shares of company stock worth $4,808,799. Corporate insiders own 14.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GRMN. Tigress Financial restated a “strong-buy” rating on shares of Garmin in a research report on Thursday, August 6th. KeyCorp reaffirmed a “sector weight” rating on shares of Garmin in a report on Wednesday, September 2nd. Arete Research began coverage on shares of Garmin in a research report on Wednesday, October 14th. They issued a “buy” rating and a $335.00 price objective for the company. Morgan Stanley upped their price objective on shares of Garmin from $249.00 to $289.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Finally, UBS Group set a $370.00 target price on shares of Garmin in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Garmin has a consensus rating of “Moderate Buy” and a consensus price target of $313.71.

Garmin Price Performance

GRMN stock traded up $2.06 during mid-day trading on Monday, reaching $286.85. 512,196 shares of the company’s stock were exchanged, compared to its average volume of 897,965. Garmin Ltd. has a 12-month low of $186.67 and a 12-month high of $314.28. The stock’s 50 day moving average is $285.82 and its 200 day moving average is $261.45. The company has a market cap of $55.32 billion, a price-to-earnings ratio of 29.57, a price-to-earnings-growth ratio of 3.18 and a beta of 0.82.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Thursday, July 30th. The scientific and technical instruments company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.51. The business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.93 billion. Garmin had a return on equity of 20.95% and a net margin of 24.47%. The business’s revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.17 earnings per share. On average, research analysts forecast that Garmin Ltd. will post 10.08 earnings per share for the current fiscal year.

Garmin Company Profile

Garmin Ltd. (NYSE: GRMN) designs and manufactures GPS-enabled technology and smart devices for fitness, outdoor recreation, aviation, marine, and automotive markets. Its product portfolio includes smartwatches, cycling computers, sports and activity trackers, satellite communication devices, navigation systems, and related sensors and accessories.

The company also develops aviation systems and avionics, marine chartplotters and sonar equipment, and navigation and infotainment solutions for vehicle manufacturers.