49,325 Shares in Garmin Ltd. (NYSE:GRMN) Acquired by Lansforsakringar Fondforvaltning AB publ

Lansforsakringar Fondforvaltning AB publ purchased a new position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 49,325 shares of the scientific and technical instruments company's stock, valued at approximately $10,174,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Garmin by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 18,067,708 shares of the scientific and technical instruments company's stock worth $3,726,645,000 after purchasing an additional 215,344 shares during the last quarter. Geode Capital Management LLC boosted its stake in Garmin by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 4,438,796 shares of the scientific and technical instruments company's stock valued at $913,544,000 after acquiring an additional 75,332 shares during the last quarter. Norges Bank purchased a new position in Garmin in the fourth quarter valued at about $396,184,000. Invesco Ltd. boosted its stake in Garmin by 9.6% in the fourth quarter. Invesco Ltd. now owns 1,708,886 shares of the scientific and technical instruments company's stock valued at $352,475,000 after acquiring an additional 149,210 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Garmin by 20.2% in the fourth quarter. Northern Trust Corp now owns 1,708,495 shares of the scientific and technical instruments company's stock valued at $352,394,000 after acquiring an additional 286,765 shares during the last quarter. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Garmin Trading Down 0.1%

Shares of GRMN stock traded down $0.11 during trading on Friday, reaching $202.73. 2,404,248 shares of the company's stock traded hands, compared to its average volume of 886,133. The company has a market capitalization of $39.03 billion, a P/E ratio of 27.73, a PEG ratio of 1.36 and a beta of 0.99. The firm's 50-day moving average is $196.54 and its 200 day moving average is $208.21. Garmin Ltd. has a 1 year low of $158.38 and a 1 year high of $246.50.

Garmin (NYSE:GRMN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 EPS for the quarter, missing analysts' consensus estimates of $1.62 by ($0.01). The business had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.50 billion. Garmin had a net margin of 22.42% and a return on equity of 19.31%. The business's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.42 earnings per share. As a group, sell-side analysts predict that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

GRMN has been the topic of a number of research analyst reports. Morgan Stanley boosted their target price 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. JPMorgan Chase & Co. dropped their target price on shares of Garmin from $220.00 to $215.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Tigress Financial boosted their target price on shares of Garmin from $265.00 to $285.00 and gave the company a "strong-buy" rating in a research note on Wednesday, February 26th. Finally, Barclays dropped 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. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Garmin currently has an average rating of "Hold" and a consensus price target of $206.00.

Insider Buying and Selling

In related news, VP Susan Lyman sold 2,829 shares of the company'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 transaction of $609,677.79. Following the sale, the vice president now owns 8,432 shares of the company's stock, valued at approximately $1,817,180.32. This represents a 25.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 19.54% of the stock is currently owned by insiders.

Garmin 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.