Robeco Institutional Asset Management B.V. grew its position in Garmin Ltd. (NASDAQ:GRMN) by 0.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,166,213 shares of the scientific and technical instruments company’s stock after purchasing an additional 11,607 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 1.09% of Garmin worth $151,742,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of GRMN. LPL Financial LLC boosted its stake in shares of Garmin by 9.4% in the 1st quarter. LPL Financial LLC now owns 14,459 shares of the scientific and technical instruments company’s stock valued at $852,000 after purchasing an additional 1,245 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Garmin by 122.5% during the second quarter. State of Alaska Department of Revenue now owns 48,050 shares of the scientific and technical instruments company’s stock worth $2,930,000 after acquiring an additional 26,450 shares in the last quarter. Xact Kapitalforvaltning AB boosted its stake in Garmin by 10.3% during the second quarter. Xact Kapitalforvaltning AB now owns 40,738 shares of the scientific and technical instruments company’s stock worth $2,485,000 after acquiring an additional 3,800 shares in the last quarter. Raymond James Trust N.A. bought a new position in Garmin during the second quarter worth $205,000. Finally, Segment Wealth Management LLC boosted its stake in Garmin by 1.5% during the second quarter. Segment Wealth Management LLC now owns 60,235 shares of the scientific and technical instruments company’s stock worth $3,674,000 after acquiring an additional 905 shares in the last quarter. 38.91% of the stock is currently owned by institutional investors.
In other Garmin news, insider Min H. Kao sold 358,798 shares of the firm’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $63.89, for a total value of $22,923,604.22. Following the transaction, the insider now directly owns 2,258,046 shares of the company’s stock, valued at $144,266,558.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Min H. Kao sold 75,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chairman now directly owns 1,799,429 shares in the company, valued at $112,050,443.83. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,813,462 shares of company stock worth $246,712,986. 17.85% of the stock is owned by insiders.
Several brokerages recently issued reports on GRMN. BidaskClub raised shares of Garmin from a “hold” rating to a “buy” rating in a research note on Thursday, August 30th. Longbow Research set a $75.00 target price on shares of Garmin and gave the stock a “buy” rating in a research note on Thursday, September 20th. Finally, Morgan Stanley set a $77.00 target price on shares of Garmin and gave the stock an “equal weight” rating in a research note on Friday, September 21st. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Garmin has a consensus rating of “Hold” and a consensus target price of $67.40.
Shares of NASDAQ GRMN opened at $66.11 on Friday. The firm has a market cap of $13.02 billion, a P/E ratio of 19.00, a P/E/G ratio of 2.58 and a beta of 0.98. Garmin Ltd. has a 12-month low of $57.01 and a 12-month high of $70.77.
Garmin (NASDAQ:GRMN) last issued its earnings results on Wednesday, October 31st. The scientific and technical instruments company reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.24. The business had revenue of $810.01 million for the quarter, compared to analyst estimates of $784.06 million. Garmin had a net margin of 19.45% and a return on equity of 16.95%. Garmin’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.75 earnings per share. On average, analysts predict that Garmin Ltd. will post 3.47 EPS for the current year.
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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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