Campbell & CO Investment Adviser LLC acquired a new stake in Garmin Ltd. (NASDAQ:GRMN) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,678 shares of the scientific and technical instruments company’s stock, valued at approximately $311,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Pearl River Capital LLC purchased a new stake in Garmin in the 2nd quarter valued at about $31,000. HM Payson & Co. purchased a new stake in Garmin in the 2nd quarter valued at about $37,000. Amica Retiree Medical Trust purchased a new stake in Garmin in the 2nd quarter valued at about $43,000. CSat Investment Advisory L.P. raised its holdings in Garmin by 103.4% in the 2nd quarter. CSat Investment Advisory L.P. now owns 708 shares of the scientific and technical instruments company’s stock valued at $56,000 after buying an additional 360 shares during the period. Finally, Signaturefd LLC raised its holdings in Garmin by 7.9% in the 2nd quarter. Signaturefd LLC now owns 1,937 shares of the scientific and technical instruments company’s stock valued at $155,000 after buying an additional 141 shares during the period. Hedge funds and other institutional investors own 42.09% of the company’s stock.
Shares of GRMN opened at $87.46 on Friday. The firm has a market cap of $17.33 billion, a P/E ratio of 23.70, a price-to-earnings-growth ratio of 3.06 and a beta of 0.91. Garmin Ltd. has a 12-month low of $59.98 and a 12-month high of $89.72. The company’s 50-day moving average price is $84.56 and its 200 day moving average price is $81.65. 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 (NASDAQ:GRMN) last issued its quarterly earnings data on Wednesday, July 31st. The scientific and technical instruments company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.16. The firm had revenue of $955.00 million for the quarter, compared to analyst estimates of $930.98 million. Garmin had a net margin of 21.32% and a return on equity of 17.97%. Garmin’s revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.99 EPS. Equities research analysts forecast that Garmin Ltd. will post 3.9 earnings per share for the current year.
GRMN has been the topic of several research analyst reports. BidaskClub upgraded shares of Garmin from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 9th. ValuEngine lowered shares of Garmin from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Tigress Financial restated a “buy” rating on shares of Garmin in a report on Friday, August 16th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Garmin presently has a consensus rating of “Hold” and an average target price of $78.66.
In other Garmin news, Chairman Min H. Kao sold 85,229 shares of the business’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $87.32, for a total transaction of $7,442,196.28. Following the sale, the chairman now directly owns 1,644,429 shares in the company, valued at $143,591,540.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Min H. Kao sold 206,163 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $79.38, for a total transaction of $16,365,218.94. Following the sale, the chairman now owns 1,799,429 shares in the company, valued at $142,838,674.02. The disclosure for this sale can be found here. Insiders have sold 3,584,937 shares of company stock worth $280,921,017 over the last quarter. Insiders own 23.83% of the company’s stock.
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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