Jacobs Levy Equity Management Inc. Has $50.57 Million Holdings in Garmin Ltd. (NYSE:GRMN)

Jacobs Levy Equity Management Inc. lifted its holdings in Garmin Ltd. (NYSE:GRMN) by 1,580.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 287,283 shares of the scientific and technical instruments company’s stock after purchasing an additional 270,186 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Garmin were worth $50,570,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. acquired a new position in Garmin during the second quarter worth $31,000. Larson Financial Group LLC grew its position 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 last quarter. Family Firm Inc. acquired a new position in Garmin in the 2nd quarter valued at $35,000. Benjamin Edwards Inc. increased its position in Garmin by 73.3% during the second quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock worth $38,000 after acquiring an additional 99 shares during the period. Finally, Headlands Technologies LLC bought a new position in shares of Garmin during the second quarter worth approximately $46,000. 73.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Garmin

In related news, Director Sean Biddlecombe sold 587 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $210.10, for a total transaction of $123,328.70. Following the completion of the sale, the director now directly owns 6,147 shares of the company’s stock, valued at approximately $1,291,484.70. This trade represents a 8.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 19.54% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Tigress Financial boosted their price target on Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 19th. Morgan Stanley downgraded Garmin from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $155.00 to $138.00 in a report on Monday, October 7th. StockNews.com downgraded shares of Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Finally, Barclays upped their target price on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a report on Friday, November 1st. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $162.67.

Garmin Stock Down 0.5 %

NYSE GRMN opened at $212.45 on Wednesday. The business has a 50 day moving average price of $188.40 and a 200-day moving average price of $176.12. Garmin Ltd. has a 52 week low of $119.15 and a 52 week high of $216.44. The company has a market cap of $40.80 billion, a price-to-earnings ratio of 26.96, a P/E/G ratio of 1.41 and a beta of 0.97.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.53. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same period last year, the business earned $1.41 EPS. The business’s revenue was up 24.1% on a year-over-year basis. On average, equities research analysts anticipate that Garmin Ltd. will post 7.01 earnings per share for the current year.

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.