Nomura Asset Management Co. Ltd. Has $1.78 Million Stock Holdings in Garmin Ltd. (NASDAQ:GRMN)

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Nomura Asset Management Co. Ltd. raised its holdings in Garmin Ltd. (NASDAQ:GRMN) by 1.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,310 shares of the scientific and technical instruments company’s stock after purchasing an additional 241 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Garmin were worth $1,780,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the business. Northern Trust Corp boosted its holdings in shares of Garmin by 5.1% in the 2nd quarter. Northern Trust Corp now owns 1,442,629 shares of the scientific and technical instruments company’s stock valued at $115,121,000 after purchasing an additional 69,443 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Garmin by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,266,909 shares of the scientific and technical instruments company’s stock valued at $101,098,000 after acquiring an additional 28,155 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Garmin by 26.3% during the 1st quarter. First Trust Advisors LP now owns 1,120,558 shares of the scientific and technical instruments company’s stock valued at $96,760,000 after acquiring an additional 233,543 shares in the last quarter. Schroder Investment Management Group boosted its holdings in shares of Garmin by 22.8% during the 2nd quarter. Schroder Investment Management Group now owns 933,264 shares of the scientific and technical instruments company’s stock valued at $74,475,000 after acquiring an additional 173,577 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Garmin by 64.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 853,632 shares of the scientific and technical instruments company’s stock valued at $68,520,000 after acquiring an additional 333,830 shares in the last quarter. 42.00% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Chairman Min H. Kao sold 116,124 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $79.78, for a total transaction of $9,264,372.72. Following the completion of the transaction, the chairman now directly owns 1,799,429 shares of the company’s stock, valued at approximately $143,558,445.62. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Min H. Kao sold 430,636 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $75.42, for a total value of $32,478,567.12. Following the transaction, the insider now directly owns 1,779,429 shares of the company’s stock, valued at $134,204,535.18. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,473,446 shares of company stock valued at $430,492,687. 23.83% of the stock is owned by corporate insiders.

NASDAQ:GRMN traded down $0.25 during trading hours on Friday, hitting $85.24. 27,856 shares of the company were exchanged, compared to its average volume of 905,460. The stock has a market capitalization of $16.93 billion, a price-to-earnings ratio of 23.06, a price-to-earnings-growth ratio of 2.98 and a beta of 0.91. The company has a current ratio of 2.39, a quick ratio of 1.76 and a debt-to-equity ratio of 0.01. Garmin Ltd. has a one year low of $59.98 and a one year high of $89.72. The company has a fifty day simple moving average of $80.33 and a 200 day simple moving average of $81.48.

Garmin (NASDAQ:GRMN) last announced its earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $1.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.16. The business had revenue of $955.00 million during the quarter, compared to analyst estimates of $930.98 million. Garmin had a return on equity of 17.97% and a net margin of 21.32%. Garmin’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the company earned $0.99 EPS. Equities research analysts predict that Garmin Ltd. will post 3.9 earnings per share for the current fiscal year.

Several research firms recently weighed in on GRMN. Tigress Financial reissued a “buy” rating on shares of Garmin in a report on Friday, August 16th. JPMorgan Chase & Co. raised Garmin from an “underweight” rating to a “neutral” rating and cut their price objective for the company from $77.00 to $75.00 in a report on Friday, June 7th. ValuEngine downgraded Garmin from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, BidaskClub raised Garmin from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $78.66.

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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