Mackenzie Financial Corp lessened its position in Garmin Ltd. (NYSE:GRMN - Free Report) by 3.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 58,313 shares of the scientific and technical instruments company's stock after selling 1,813 shares during the quarter. Mackenzie Financial Corp's holdings in Garmin were worth $12,028,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of GRMN. Golden State Wealth Management LLC purchased a new stake in Garmin during the 4th quarter worth about $26,000. Aster Capital Management DIFC Ltd increased its holdings in Garmin by 864.3% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company's stock worth $28,000 after purchasing an additional 121 shares during the period. SOA Wealth Advisors LLC. acquired a new position in shares of Garmin during the 4th quarter worth about $37,000. Kentucky Trust Co acquired a new position in shares of Garmin during the 4th quarter worth about $41,000. Finally, Venturi Wealth Management LLC boosted its position in shares of Garmin by 67.7% during the 4th quarter. Venturi Wealth Management LLC now owns 208 shares of the scientific and technical instruments company's stock worth $43,000 after acquiring an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 81.60% of the company's stock.
Wall Street Analyst Weigh In
GRMN has been the subject of several analyst reports. Morgan Stanley upped their price objective on Garmin from $159.00 to $172.00 and gave the stock an "underweight" rating in a research report on Thursday, May 1st. Barclays lowered their price objective on Garmin from $188.00 to $152.00 and set an "underweight" rating for the company in a research report on Wednesday, April 30th. JPMorgan Chase & Co. lowered their price objective on Garmin from $220.00 to $215.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Finally, Tigress Financial upped their target price on Garmin from $265.00 to $285.00 and gave the company a "strong-buy" rating in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $206.00.
Read Our Latest Analysis on GRMN
Insiders Place Their Bets
In other news, VP Susan Lyman sold 2,829 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $215.51, for a total transaction of $609,677.79. Following the completion of the transaction, the vice president now directly 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 19.54% of the stock is owned by insiders.
Garmin Trading Down 0.1%
Shares of NYSE GRMN traded down $0.11 during trading hours on Friday, reaching $202.73. The stock had a trading volume of 2,404,248 shares, compared to its average volume of 884,076. The firm has a market cap of $39.03 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 1.36 and a beta of 0.99. Garmin Ltd. has a fifty-two week low of $158.38 and a fifty-two week high of $246.50. The firm has a 50-day moving average of $196.54 and a 200-day moving average of $208.16.
Garmin (NYSE:GRMN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 earnings per share for the quarter, missing analysts' consensus estimates of $1.62 by ($0.01). Garmin had a return on equity of 19.31% and a net margin of 22.42%. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the business posted $1.42 earnings per share. The firm's revenue was up 11.1% compared to the same quarter last year. On average, equities analysts predict that Garmin Ltd. will post 7.8 EPS for the current year.
Garmin Company 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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