Jacobs Levy Equity Management Inc. lifted its holdings in Garmin Ltd. (NYSE:GRMN – Free Report) 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
View Our Latest Research Report on GRMN
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 – Get Free Report) 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.
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