Stephens Inc. AR trimmed its holdings in shares of Garmin Ltd. (NYSE:GRMN – Get Rating) by 8.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,338 shares of the scientific and technical instruments company’s stock after selling 308 shares during the quarter. Stephens Inc. AR’s holdings in Garmin were worth $308,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Retirement Systems of Alabama raised its stake in shares of Garmin by 1.3% during the 3rd quarter. Retirement Systems of Alabama now owns 51,245 shares of the scientific and technical instruments company’s stock worth $4,115,000 after buying an additional 666 shares during the period. Prudential PLC raised its stake in Garmin by 14.7% in the 3rd quarter. Prudential PLC now owns 3,893 shares of the scientific and technical instruments company’s stock valued at $313,000 after purchasing an additional 498 shares during the last quarter. South Dakota Investment Council acquired a new position in Garmin in the 3rd quarter valued at $104,000. The Manufacturers Life Insurance Company raised its stake in Garmin by 2.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 113,586 shares of the scientific and technical instruments company’s stock valued at $9,122,000 after purchasing an additional 2,636 shares during the last quarter. Finally, Two Sigma Advisers LP raised its stake in Garmin by 48.1% in the 3rd quarter. Two Sigma Advisers LP now owns 625,200 shares of the scientific and technical instruments company’s stock valued at $50,210,000 after purchasing an additional 203,100 shares during the last quarter. 63.29% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, CEO Clifton A. Pemble sold 7,216 shares of Garmin stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $98.54, for a total value of $711,064.64. Following the completion of the transaction, the chief executive officer now owns 120,460 shares in the company, valued at approximately $11,870,128.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Clifton A. Pemble sold 7,216 shares of the firm’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $98.54, for a total transaction of $711,064.64. Following the sale, the chief executive officer now owns 120,460 shares of the company’s stock, valued at approximately $11,870,128.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Matthew Munn sold 4,536 shares of the firm’s stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $98.36, for a total value of $446,160.96. Following the sale, the director now directly owns 9,023 shares in the company, valued at approximately $887,502.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,610 shares of company stock worth $1,635,921. 20.34% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Garmin Price Performance
Shares of Garmin stock opened at $98.05 on Friday. The business has a 50-day moving average of $97.80 and a 200 day moving average of $92.46. The stock has a market capitalization of $18.76 billion, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 3.30 and a beta of 0.94. Garmin Ltd. has a 12 month low of $76.37 and a 12 month high of $117.20.
Garmin (NYSE:GRMN – Get Rating) last announced its quarterly earnings data on Wednesday, February 22nd. The scientific and technical instruments company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.21. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Garmin had a return on equity of 16.41% and a net margin of 20.03%. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.55 EPS. Equities research analysts anticipate that Garmin Ltd. will post 5.15 earnings per share for the current year.
About Garmin
Garmin Ltd. is a holding company, which engages in the provision of navigation, communications and information devices, most of which are enabled by Global Positioning System (GPS) technology. It operates through the following segments: Marine, Outdoor, Fitness, Auto OEM, Consumer Auto, and Aviation.
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