TD Asset Management Inc. raised its position in shares of Garmin Ltd. (NASDAQ:GRMN) by 12.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,113,564 shares of the company’s stock after buying an additional 123,980 shares during the period. TD Asset Management Inc. owned approximately 0.59% of Garmin worth $53,574,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in GRMN. MSI Financial Services Inc increased its stake in shares of Garmin by 2.4% in the third quarter. MSI Financial Services Inc now owns 2,209 shares of the company’s stock worth $106,000 after buying an additional 52 shares in the last quarter. US Bancorp DE increased its stake in shares of Garmin by 22.8% in the second quarter. US Bancorp DE now owns 2,818 shares of the company’s stock worth $120,000 after buying an additional 524 shares in the last quarter. BlueMountain Capital Management LLC acquired a new stake in shares of Garmin during the second quarter worth $123,000. Hussman Strategic Advisors Inc. acquired a new stake in shares of Garmin during the second quarter worth $148,000. Finally, Euclid Advisors LLC increased its stake in shares of Garmin by 3.0% in the first quarter. Euclid Advisors LLC now owns 4,070 shares of the company’s stock worth $163,000 after buying an additional 120 shares in the last quarter. 35.45% of the stock is owned by institutional investors and hedge funds.
Garmin Ltd. (NASDAQ:GRMN) traded up 0.49% during mid-day trading on Friday, reaching $52.79. 285,468 shares of the company traded hands. The stock’s 50-day moving average price is $49.33 and its 200-day moving average price is $47.22. Garmin Ltd. has a one year low of $30.93 and a one year high of $56.19. The firm has a market cap of $9.95 billion, a PE ratio of 19.71 and a beta of 0.84.
Garmin (NASDAQ:GRMN) last announced its earnings results on Wednesday, October 26th. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.21. The business earned $722 million during the quarter, compared to analysts’ expectations of $679.73 million. Garmin had a net margin of 17.24% and a return on equity of 16.15%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the company posted $0.51 EPS. Analysts forecast that Garmin Ltd. will post $2.68 earnings per share for the current fiscal year.
Several research firms have commented on GRMN. JPMorgan Chase & Co. upgraded shares of Garmin from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $38.00 to $47.00 in a research report on Thursday, July 28th. Raymond James Financial Inc. cut shares of Garmin from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $30.93 to $54.38 in a research report on Monday, August 22nd. Bank of America Corp. cut shares of Garmin from a “buy” rating to an “underperform” rating and set a $47.00 target price for the company. in a research report on Thursday, August 4th. They noted that the move was a valuation call. Vetr cut shares of Garmin from a “hold” rating to a “sell” rating and set a $45.67 target price for the company. in a research report on Thursday, August 25th. Finally, Morgan Stanley decreased their target price on shares of Garmin from $49.00 to $42.00 and set an “equal weight” rating for the company in a research report on Thursday, July 28th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $41.52.