Robeco Institutional Asset Management B.V. grew its position in Garmin Ltd. (NASDAQ:GRMN) by 0.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,166,213 shares of the scientific and technical instruments company’s stock after purchasing an additional 11,607 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Garmin were worth $151,742,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in GRMN. LPL Financial LLC raised its holdings in shares of Garmin by 9.4% in the first quarter. LPL Financial LLC now owns 14,459 shares of the scientific and technical instruments company’s stock valued at $852,000 after purchasing an additional 1,245 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Garmin by 122.5% in the second quarter. State of Alaska Department of Revenue now owns 48,050 shares of the scientific and technical instruments company’s stock valued at $2,930,000 after purchasing an additional 26,450 shares during the last quarter. Xact Kapitalforvaltning AB raised its holdings in shares of Garmin by 10.3% in the second quarter. Xact Kapitalforvaltning AB now owns 40,738 shares of the scientific and technical instruments company’s stock valued at $2,485,000 after purchasing an additional 3,800 shares during the last quarter. Raymond James Trust N.A. purchased a new stake in shares of Garmin in the second quarter valued at about $205,000. Finally, Segment Wealth Management LLC raised its holdings in shares of Garmin by 1.5% in the second quarter. Segment Wealth Management LLC now owns 60,235 shares of the scientific and technical instruments company’s stock valued at $3,674,000 after purchasing an additional 905 shares during the last quarter. Institutional investors own 38.91% of the company’s stock.
In related news, insider Min H. Kao sold 479,645 shares of the firm’s stock in a transaction dated Tuesday, November 6th. The shares were sold at an average price of $64.82, for a total transaction of $31,090,588.90. Following the completion of the sale, the insider now owns 1,799,429 shares in the company, valued at $116,638,987.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Min H. Kao sold 678,401 shares of the firm’s stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $66.13, for a total transaction of $44,862,658.13. The disclosure for this sale can be found here. Insiders have sold 3,813,462 shares of company stock valued at $246,712,986 in the last 90 days. 17.85% of the stock is currently owned by corporate insiders.
Garmin (NASDAQ:GRMN) last posted its quarterly earnings data on Wednesday, October 31st. The scientific and technical instruments company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.24. Garmin had a net margin of 19.45% and a return on equity of 16.95%. The business had revenue of $810.01 million during the quarter, compared to the consensus estimate of $784.06 million. During the same quarter last year, the company posted $0.75 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, analysts forecast that Garmin Ltd. will post 3.47 EPS for the current fiscal year.
Several analysts have recently commented on GRMN shares. Longbow Research set a $72.00 target price on shares of Garmin and gave the company a “buy” rating in a report on Thursday, July 19th. BidaskClub downgraded shares of Garmin from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 4th. Finally, Morgan Stanley set a $77.00 target price on shares of Garmin and gave the company an “equal weight” rating in a report on Friday, September 21st. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $67.40.
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Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices worldwide. It operates through five segments: Auto, Aviation, Marine, Outdoor, and Fitness. The Auto segment offers personal navigation devices; infotainment systems; and action cameras, as well as mobile applications under the Garmin and NAVIGON names.
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