Healthcare of Ontario Pension Plan Trust Fund Has $13.06 Million Position in Garmin Ltd. (NASDAQ:GRMN)

Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Garmin Ltd. (NASDAQ:GRMN) by 9.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 84,001 shares of the scientific and technical instruments company’s stock after purchasing an additional 7,116 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Garmin were worth $13,059,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Forsta AP Fonden lifted its stake in Garmin by 349.5% in the third quarter. Forsta AP Fonden now owns 44,500 shares of the scientific and technical instruments company’s stock valued at $6,918,000 after acquiring an additional 34,600 shares during the last quarter. Nikko Asset Management Americas Inc. lifted its stake in Garmin by 4.3% in the third quarter. Nikko Asset Management Americas Inc. now owns 93,481 shares of the scientific and technical instruments company’s stock valued at $14,490,000 after acquiring an additional 3,838 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in Garmin by 20.2% in the third quarter. Teacher Retirement System of Texas now owns 122,880 shares of the scientific and technical instruments company’s stock valued at $19,103,000 after acquiring an additional 20,685 shares during the last quarter. Parsons Capital Management Inc. RI acquired a new stake in Garmin in the third quarter valued at approximately $253,000. Finally, Barclays PLC lifted its stake in Garmin by 28.2% in the third quarter. Barclays PLC now owns 326,190 shares of the scientific and technical instruments company’s stock valued at $50,707,000 after acquiring an additional 71,678 shares during the last quarter. Institutional investors and hedge funds own 62.49% of the company’s stock.

Shares of GRMN stock opened at $132.38 on Friday. Garmin Ltd. has a 1 year low of $113.59 and a 1 year high of $178.80. The firm’s fifty day simple moving average is $137.15 and its 200 day simple moving average is $151.91. The firm has a market capitalization of $25.46 billion, a P/E ratio of 22.63, a price-to-earnings-growth ratio of 3.10 and a beta of 0.96.

Garmin (NASDAQ:GRMN) last posted its quarterly earnings results on Wednesday, October 27th. The scientific and technical instruments company reported $1.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.14. Garmin had a net margin of 22.85% and a return on equity of 20.42%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the company earned $1.58 earnings per share. The business’s revenue was up 7.4% compared to the same quarter last year. As a group, equities analysts anticipate that Garmin Ltd. will post 5.68 EPS for the current fiscal year.

A number of research firms have recently commented on GRMN. Deutsche Bank Aktiengesellschaft raised shares of Garmin from a “hold” rating to a “buy” rating and lifted their price target for the company from $148.00 to $160.00 in a research report on Wednesday, January 5th. Morgan Stanley dropped their price target on shares of Garmin from $147.00 to $141.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 28th. Tigress Financial lifted their price target on shares of Garmin from $198.00 to $202.00 and gave the company a “strong-buy” rating in a research report on Wednesday, November 24th. Finally, Zacks Investment Research lowered shares of Garmin from a “buy” rating to a “hold” rating and set a $163.00 price target on the stock. in a research report on Tuesday, October 5th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $156.29.

About Garmin

Garmin Ltd. is a holding company, which engages in the provision of navigation, communications and information devices, most of which are enabled by Global Positioning System (GPS) technology. It operates through the following five segments: Marine, Outdoor, Fitness, Auto and Aviation. The Marine segment manufactures and offers recreational marine electronics such as cartography, Sounders, Radar, Autopilot Systems and Sailing.

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Institutional Ownership by Quarter for Garmin (NASDAQ:GRMN)

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