Dimensional Fund Advisors LP increased its stake in shares of Garmin Ltd. (NASDAQ:GRMN) by 4.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 944,695 shares of the company’s stock after buying an additional 36,428 shares during the period. Dimensional Fund Advisors LP owned about 0.50% of Garmin worth $40,067,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. TIAA CREF Investment Management LLC boosted its position in Garmin by 7.3% in the first quarter. TIAA CREF Investment Management LLC now owns 285,942 shares of the company’s stock valued at $11,426,000 after buying an additional 19,540 shares in the last quarter. Teachers Advisors Inc. boosted its position in Garmin by 5.4% in the first quarter. Teachers Advisors Inc. now owns 133,775 shares of the company’s stock valued at $5,346,000 after buying an additional 6,826 shares in the last quarter. Credit Agricole S A boosted its position in Garmin by 279.4% in the first quarter. Credit Agricole S A now owns 101,326 shares of the company’s stock valued at $4,049,000 after buying an additional 74,621 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new position in Garmin during the first quarter valued at approximately $2,841,000. Finally, Zebra Capital Management LLC boosted its position in Garmin by 30.4% in the first quarter. Zebra Capital Management LLC now owns 24,433 shares of the company’s stock valued at $976,000 after buying an additional 5,703 shares in the last quarter. Institutional investors and hedge funds own 35.69% of the company’s stock.
Garmin Ltd. (NASDAQ:GRMN) opened at 48.33 on Monday. The firm has a market cap of $9.13 billion, a price-to-earnings ratio of 18.37 and a beta of 0.83. The firm’s 50-day moving average is $48.38 and its 200-day moving average is $45.55. Garmin Ltd. has a 52-week low of $30.93 and a 52-week high of $56.19.
Garmin (NASDAQ:GRMN) last posted its earnings results on Wednesday, July 27th. The company reported $0.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.20. The company had revenue of $812 million for the quarter, compared to analyst estimates of $763.37 million. Garmin had a net margin of 17.29% and a return on equity of 14.97%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the business posted $0.72 earnings per share. Analysts forecast that Garmin Ltd. will post $2.53 EPS for the current fiscal year.
Several equities analysts have recently commented on GRMN shares. Zacks Investment Research cut shares of Garmin from a “hold” rating to a “sell” rating in a report on Tuesday, June 28th. JPMorgan Chase & Co. restated a “sell” rating and set a $38.00 price target on shares of Garmin in a report on Wednesday, July 20th. Morgan Stanley lowered their price target on shares of Garmin from $49.00 to $42.00 and set an “equal weight” rating on the stock in a report on Thursday, July 28th. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of Garmin in a report on Monday, August 1st. Finally, Bank of America Corp. cut shares of Garmin from a “buy” rating to an “underperform” rating and set a $47.00 price objective for the company. in a report on Thursday, August 4th. They noted that the move was a valuation call. Four research analysts have rated the stock with a sell rating, nine have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Garmin currently has an average rating of “Hold” and an average target price of $40.97.
In related news, VP Philip Straub sold 1,084 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $55.36, for a total transaction of $60,010.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Danny J. Bartel sold 786 shares of the firm’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $54.53, for a total transaction of $42,860.58. The disclosure for this sale can be found here. Corporate insiders own 18.30% of the company’s stock.
Garmin Company Profile