Garmin Ltd. (NYSE:GRMN) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its position in Garmin Ltd. (NYSE:GRMN) by 3.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,704 shares of the scientific and technical instruments company’s stock after selling 1,817 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Garmin were worth $9,806,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in GRMN. Select Equity Group L.P. increased its stake in Garmin by 0.6% during the second quarter. Select Equity Group L.P. now owns 2,006,563 shares of the scientific and technical instruments company’s stock valued at $326,909,000 after purchasing an additional 11,666 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Garmin by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,735,623 shares of the scientific and technical instruments company’s stock valued at $282,761,000 after buying an additional 13,968 shares during the last quarter. Boston Partners grew its position in shares of Garmin by 4.3% during the 1st quarter. Boston Partners now owns 1,416,130 shares of the scientific and technical instruments company’s stock valued at $210,799,000 after buying an additional 58,343 shares during the last quarter. Marshall Wace LLP raised its stake in Garmin by 34.0% during the second quarter. Marshall Wace LLP now owns 1,098,443 shares of the scientific and technical instruments company’s stock worth $178,958,000 after acquiring an additional 278,990 shares during the period. Finally, Captrust Financial Advisors lifted its holdings in Garmin by 20.2% in the first quarter. Captrust Financial Advisors now owns 839,537 shares of the scientific and technical instruments company’s stock worth $124,982,000 after acquiring an additional 141,001 shares during the last quarter. 73.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Garmin news, insider Cheng-Wei Wang sold 10,055 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the completion of the transaction, the insider now directly owns 40,965 shares of the company’s stock, valued at approximately $7,257,359.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Philip Straub sold 2,750 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $181.46, for a total transaction of $499,015.00. Following the completion of the sale, the director now directly owns 88,622 shares of the company’s stock, valued at $16,081,348.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cheng-Wei Wang sold 10,055 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the sale, the insider now owns 40,965 shares of the company’s stock, valued at $7,257,359.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,479 shares of company stock valued at $2,419,502 over the last quarter. Corporate insiders own 19.54% of the company’s stock.

Analyst Ratings Changes

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

Garmin Stock Performance

NYSE:GRMN opened at $212.72 on Monday. Garmin Ltd. has a 1 year low of $115.34 and a 1 year high of $214.62. The business has a fifty day moving average of $176.88 and a 200-day moving average of $170.13. The stock has a market cap of $40.85 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 3.23 and a beta of 0.97.

Garmin (NYSE:GRMN) last announced its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the prior year, the firm posted $1.41 EPS. Garmin’s revenue was up 24.1% compared to the same quarter last year. On average, equities research analysts predict that Garmin Ltd. will post 6.89 EPS for the current year.

About Garmin

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.