Chicago Partners Investment Group LLC increased its stake in shares of Garmin Ltd. (NYSE:GRMN – Free Report) by 25.6% in the third quarter, HoldingsChannel reports. The firm owned 10,061 shares of the scientific and technical instruments company’s stock after buying an additional 2,051 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Garmin were worth $2,955,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of GRMN. Green Alpha Advisors LLC boosted its position in Garmin by 0.7% during the third quarter. Green Alpha Advisors LLC now owns 6,324 shares of the scientific and technical instruments company’s stock worth $1,814,000 after acquiring an additional 43 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in Garmin by 0.9% in the 3rd quarter. Quadrant Capital Group LLC now owns 4,919 shares of the scientific and technical instruments company’s stock worth $1,360,000 after buying an additional 43 shares during the last quarter. Yousif Capital Management LLC boosted its stake in Garmin by 0.3% in the 3rd quarter. Yousif Capital Management LLC now owns 15,863 shares of the scientific and technical instruments company’s stock worth $4,550,000 after buying an additional 43 shares during the last quarter. Frank Rimerman Advisors LLC grew its holdings in 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 buying an additional 49 shares during the period. Finally, Plan A Wealth LLC grew its holdings in Garmin by 4.3% in the 3rd quarter. Plan A Wealth LLC now owns 1,214 shares of the scientific and technical instruments company’s stock valued at $348,000 after buying an additional 50 shares during the period. 81.60% of the stock is owned by institutional investors and hedge funds.
Garmin Price Performance
Shares of GRMN stock traded down $0.67 on Friday, hitting $285.73. 942,918 shares of the stock traded hands, compared to its average volume of 904,782. The company has a market capitalization of $55.06 billion, a PE ratio of 27.42, a PEG ratio of 2.85 and a beta of 0.90. The company’s fifty day moving average is $281.70 and its 200 day moving average is $255.40. Garmin Ltd. has a 1-year low of $186.67 and a 1-year high of $314.28.
Garmin (NYSE:GRMN – Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The scientific and technical instruments company reported $2.76 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.38. Garmin had a return on equity of 21.94% and a net margin of 25.58%. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. During the same period in the prior year, the business earned $1.99 EPS. The firm’s revenue was up 12.2% on a year-over-year basis. As a group, equities research analysts expect that Garmin Ltd. will post 10.77 EPS for the current year.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on GRMN. Weiss Ratings upgraded shares of Garmin from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday, October 28th. Zacks Research lowered Garmin from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 12th. Bank of America reiterated an “underperform” rating on shares of Garmin in a report on Monday. Barclays cut their price target on shares of Garmin from $297.00 to $277.00 and set an “equal weight” rating on the stock in a report on Thursday, October 29th. Finally, UBS Group set a $370.00 price target on shares of Garmin in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $315.29.
View Our Latest Report on GRMN
Insiders Place Their Bets
In related news, insider Cheng-Wei Wang sold 9,941 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $299.36, for a total value of $2,975,937.76. Following the completion of the sale, the insider directly owned 29,506 shares in the company, valued at approximately $8,832,916.16. The trade was a 25.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 14.80% of the stock is currently owned by insiders.
Garmin Company Profile
Garmin Ltd. develops, manufactures and markets navigation, communication and information devices and applications. Its products include GPS-enabled watches and fitness trackers, handheld outdoor navigation devices, marine electronics, aviation systems and automotive navigation technology.
Founded in 1989 by Gary Burrell and Min Kao, Garmin serves consumers and businesses around the world. Its products are used in activities ranging from fitness and outdoor recreation to boating, aviation and transportation.
Garmin is incorporated in Switzerland and has its operational headquarters in Olathe, Kansas.
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