Czech National Bank boosted its stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 5.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 35,284 shares of the scientific and technical instruments company's stock after purchasing an additional 1,976 shares during the period. Czech National Bank's holdings in Garmin were worth $7,661,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. Baskin Financial Services Inc. lifted its holdings in Garmin by 3.2% in the fourth quarter. Baskin Financial Services Inc. now owns 148,957 shares of the scientific and technical instruments company's stock valued at $30,724,000 after acquiring an additional 4,616 shares during the period. Savant Capital LLC increased its holdings in shares of Garmin by 47.2% during the 4th quarter. Savant Capital LLC now owns 9,075 shares of the scientific and technical instruments company's stock valued at $1,872,000 after purchasing an additional 2,910 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Garmin in the 4th quarter valued at $127,000. SYM FINANCIAL Corp purchased a new stake in Garmin during the fourth quarter worth $239,000. Finally, Allspring Global Investments Holdings LLC grew its position in Garmin by 229.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 159,056 shares of the scientific and technical instruments company's stock valued at $32,535,000 after buying an additional 110,705 shares during the period. Hedge funds and other institutional investors own 81.60% of the company's stock.
Garmin Price Performance
GRMN stock traded up $0.37 during trading on Thursday, hitting $205.32. The stock had a trading volume of 581,524 shares, compared to its average volume of 882,494. Garmin Ltd. has a twelve month low of $158.38 and a twelve month high of $246.50. The company's 50-day moving average price is $195.84 and its two-hundred day moving average price is $208.07. The stock has a market capitalization of $39.53 billion, a P/E ratio of 28.09, a PEG ratio of 1.36 and a beta of 0.99.
Garmin (NYSE:GRMN - Get Free Report) last released its earnings results on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.01). Garmin had a net margin of 22.42% and a return on equity of 19.31%. The firm had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.50 billion. During the same quarter last year, the business earned $1.42 EPS. The business's revenue was up 11.1% compared to the same quarter last year. As a group, sell-side analysts expect that Garmin Ltd. will post 7.8 EPS for the current fiscal year.
Analysts Set New Price Targets
Several research firms have recently issued reports on GRMN. Barclays lowered their target price on shares of Garmin from $188.00 to $152.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 30th. JPMorgan Chase & Co. dropped their price objective on Garmin from $220.00 to $215.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Tigress Financial upped their target price on Garmin from $265.00 to $285.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, February 26th. Finally, Morgan Stanley lifted their price target on shares of Garmin from $159.00 to $172.00 and gave the company an "underweight" rating in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat, Garmin currently has an average rating of "Hold" and a consensus price target of $206.00.
View Our Latest Stock Report on Garmin
Insider Buying and Selling at Garmin
In other Garmin news, VP Susan Lyman sold 2,829 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $215.51, for a total value of $609,677.79. Following the transaction, the vice president now directly owns 8,432 shares of the company's stock, valued at $1,817,180.32. This trade represents a 25.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 15.38% of the stock is currently owned by insiders.
Garmin Profile
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Free Report)
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.
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