3,110 Shares in Garmin Ltd. (NYSE:GRMN) Bought by Kestra Investment Management LLC

Kestra Investment Management LLC purchased a new stake in shares of Garmin Ltd. (NYSE:GRMN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 3,110 shares of the scientific and technical instruments company’s stock, valued at approximately $547,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of GRMN. FMR LLC lifted its stake in shares of Garmin by 40.8% during the 3rd quarter. FMR LLC now owns 3,775,154 shares of the scientific and technical instruments company’s stock valued at $664,540,000 after buying an additional 1,093,219 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Garmin by 136.7% in the second quarter. AQR Capital Management LLC now owns 711,849 shares of the scientific and technical instruments company’s stock valued at $115,177,000 after acquiring an additional 411,084 shares in the last quarter. Montrusco Bolton Investments Inc. bought a new position in shares of Garmin in the third quarter worth about $53,252,000. Renaissance Technologies LLC bought a new position in shares of Garmin in the second quarter worth about $45,999,000. Finally, Marshall Wace LLP raised its stake in Garmin by 34.0% during the 2nd quarter. Marshall Wace LLP now owns 1,098,443 shares of the scientific and technical instruments company’s stock valued at $178,958,000 after purchasing an additional 278,990 shares during the period. Hedge funds and other institutional investors own 73.41% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Tigress Financial upped their price target on Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 19th. Morgan Stanley downgraded shares of Garmin from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $155.00 to $138.00 in a report on Monday, October 7th. Barclays raised their target price on shares of Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research note on Friday, November 1st. Finally, StockNews.com cut shares of Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $162.67.

Insider Activity

In other Garmin news, Director Sean Biddlecombe sold 587 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $210.10, for a total transaction of $123,328.70. Following the transaction, the director now owns 6,147 shares in the company, valued at $1,291,484.70. The trade was a 8.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 19.54% of the company’s stock.

Garmin Stock Performance

Shares of GRMN opened at $212.60 on Monday. The stock has a market capitalization of $40.82 billion, a PE ratio of 26.98, a P/E/G ratio of 1.40 and a beta of 0.97. The company’s fifty day moving average is $186.92 and its 200 day moving average is $175.52. Garmin Ltd. has a fifty-two week low of $119.15 and a fifty-two week high of $216.44.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.53. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the previous year, the firm posted $1.41 EPS. The business’s quarterly revenue was up 24.1% on a year-over-year basis. As a group, research analysts forecast that Garmin Ltd. will post 7.01 earnings per share for the current year.

Garmin Company Profile

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.