Garmin Ltd. (GRMN) Shares Bought by Toronto Dominion Bank

Toronto Dominion Bank increased its position in Garmin Ltd. (NASDAQ:GRMN) by 11.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 89,404 shares of the scientific and technical instruments company’s stock after purchasing an additional 9,270 shares during the quarter. Toronto Dominion Bank’s holdings in Garmin were worth $6,261,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Garmin by 1.6% in the 2nd quarter. BlackRock Inc. now owns 11,085,678 shares of the scientific and technical instruments company’s stock valued at $676,226,000 after purchasing an additional 175,369 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in Garmin by 0.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,166,213 shares of the scientific and technical instruments company’s stock valued at $151,742,000 after acquiring an additional 11,607 shares during the period. Schroder Investment Management Group raised its holdings in Garmin by 35.8% in the 2nd quarter. Schroder Investment Management Group now owns 1,700,423 shares of the scientific and technical instruments company’s stock valued at $103,658,000 after acquiring an additional 448,275 shares during the period. Janus Henderson Group PLC raised its holdings in Garmin by 9.6% in the 2nd quarter. Janus Henderson Group PLC now owns 1,409,480 shares of the scientific and technical instruments company’s stock valued at $85,978,000 after acquiring an additional 123,895 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Garmin by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,328,415 shares of the scientific and technical instruments company’s stock valued at $81,034,000 after acquiring an additional 4,895 shares during the period. 40.59% of the stock is currently owned by institutional investors.

In other news, Chairman Min H. Kao sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, October 22nd. The shares were sold at an average price of $62.27, for a total transaction of $4,670,250.00. Following the transaction, the chairman now directly owns 1,799,429 shares of the company’s stock, valued at $112,050,443.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Min H. Kao sold 222,766 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $64.93, for a total transaction of $14,464,196.38. Following the transaction, the insider now directly owns 1,901,429 shares in the company, valued at $123,459,784.97. The disclosure for this sale can be found here. Insiders have sold 2,545,813 shares of company stock worth $164,671,192 over the last ninety days. Insiders own 17.85% of the company’s stock.

Several research analysts have weighed in on GRMN shares. Longbow Research set a $75.00 price target on shares of Garmin and gave the company a “buy” rating in a report on Thursday, September 20th. BidaskClub raised shares of Garmin from a “hold” rating to a “buy” rating in a report on Thursday, August 30th. Morgan Stanley set a $77.00 price target on shares of Garmin and gave the company an “equal weight” rating in a report on Friday, September 21st. Finally, Bank of America set a $70.00 price target on shares of Garmin and gave the company a “sell” rating in a report on Thursday, November 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $67.83.

Garmin stock opened at $64.99 on Friday. The stock has a market capitalization of $12.90 billion, a price-to-earnings ratio of 22.11, a P/E/G ratio of 2.55 and a beta of 0.98. Garmin Ltd. has a twelve month low of $57.01 and a twelve month high of $70.77.

Garmin (NASDAQ:GRMN) last released its quarterly earnings results on Wednesday, October 31st. The scientific and technical instruments company reported $1.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.24. Garmin had a net margin of 19.45% and a return on equity of 16.95%. The firm had revenue of $810.01 million for the quarter, compared to analysts’ expectations of $784.06 million. During the same period in the prior year, the firm earned $0.75 EPS. The business’s revenue was up 7.8% on a year-over-year basis. On average, equities research analysts anticipate that Garmin Ltd. will post 3.47 earnings per share for the current year.

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Garmin Profile

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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Institutional Ownership by Quarter for Garmin (NASDAQ:GRMN)

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