Garmin Ltd. (NYSE:GRMN) Shares Sold by Thematics Asset Management

Thematics Asset Management reduced its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 24.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,537 shares of the scientific and technical instruments company’s stock after selling 18,773 shares during the period. Thematics Asset Management’s holdings in Garmin were worth $10,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GRMN. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Garmin in the 2nd quarter valued at $31,000. Larson Financial Group LLC increased its holdings in shares of Garmin by 578.6% in the third quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock valued at $33,000 after purchasing an additional 162 shares during the period. Family Firm Inc. acquired a new stake in shares of Garmin during the second quarter worth about $35,000. Benjamin Edwards Inc. increased its holdings in Garmin by 73.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock worth $38,000 after buying an additional 99 shares during the period. Finally, Headlands Technologies LLC purchased a new position in Garmin during the 2nd quarter worth approximately $46,000. 73.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Garmin

In related news, Director Philip Straub sold 2,750 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $181.46, for a total transaction of $499,015.00. Following the completion of the sale, the director now directly owns 88,622 shares in the company, valued at approximately $16,081,348.12. This trade represents a 3.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sean Biddlecombe sold 587 shares of Garmin stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $210.10, for a total transaction of $123,328.70. Following the sale, the director now directly owns 6,147 shares in the company, valued at approximately $1,291,484.70. The trade was a 8.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,424 shares of company stock worth $638,159 in the last ninety days. Insiders own 19.54% of the company’s stock.

Garmin Stock Performance

Shares of NYSE:GRMN traded down $1.42 during trading on Tuesday, reaching $213.10. The stock had a trading volume of 126,894 shares, compared to its average volume of 858,863. The business has a fifty day moving average price of $183.60 and a 200-day moving average price of $174.32. Garmin Ltd. has a 1-year low of $119.15 and a 1-year high of $216.44. The stock has a market cap of $40.92 billion, a PE ratio of 27.22, a PEG ratio of 1.39 and a beta of 0.97.

Garmin (NYSE:GRMN) last released its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.53. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The company’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.41 earnings per share. Sell-side analysts expect that Garmin Ltd. will post 7.01 earnings per share for the current year.

Wall Street Analyst Weigh In

GRMN has been the topic of several recent research reports. StockNews.com lowered shares of Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Barclays raised their target price on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Morgan Stanley lowered Garmin from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $155.00 to $138.00 in a research report on Monday, October 7th. Finally, Tigress Financial lifted their target price on shares of Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a report on Thursday, September 19th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $162.67.

Garmin Profile

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.