Today: Robeco Institutional Asset Management B.V. invests in Garmin Ltd. (GRMN) Shares

Today: Robeco Institutional Asset Management B.V. invests in Garmin Ltd. (GRMN) Shares

Robeco Institutional Asset Management B.V. raised its stake in Garmin Ltd. (NASDAQ:GRMN) by 572.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 847,859 shares of the company’s stock after buying an additional 721,730 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.45% of Garmin worth $40,787,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Hamlin Capital Management LLC increased its position in shares of Garmin by 16.4% in the second quarter. Hamlin Capital Management LLC now owns 629,294 shares of the company’s stock valued at $26,695,000 after buying an additional 88,539 shares in the last quarter. Alps Advisors Inc. increased its position in shares of Garmin by 12.5% in the second quarter. Alps Advisors Inc. now owns 618,547 shares of the company’s stock valued at $26,239,000 after buying an additional 68,620 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Garmin during the first quarter valued at approximately $1,080,000. South Texas Money Management Ltd. increased its position in shares of Garmin by 0.3% in the second quarter. South Texas Money Management Ltd. now owns 667,587 shares of the company’s stock valued at $28,319,000 after buying an additional 2,261 shares in the last quarter. Finally, First Midwest Bank Trust Division acquired a new position in shares of Garmin during the second quarter valued at approximately $437,000. Institutional investors own 37.10% of the company’s stock.

Garmin Ltd. (NASDAQ:GRMN) opened at 52.79 on Monday. The firm has a market cap of $9.95 billion, a PE ratio of 19.71 and a beta of 0.84. Garmin Ltd. has a 12-month low of $30.93 and a 12-month high of $56.19. The stock’s 50 day moving average price is $49.48 and its 200-day moving average price is $47.31.

Garmin (NASDAQ:GRMN) last issued its quarterly earnings results on Wednesday, October 26th. The company reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.21. The company earned $722 million during the quarter, compared to the consensus estimate of $679.73 million. Garmin had a return on equity of 16.15% and a net margin of 17.24%. Garmin’s revenue was up 6.3% on a year-over-year basis. During the same period last year, the business posted $0.51 earnings per share. Equities research analysts anticipate that Garmin Ltd. will post $2.68 earnings per share for the current fiscal year.

Several research analysts have recently commented on GRMN shares. Raymond James Financial Inc. upgraded Garmin from a “market perform” rating to an “outperform” rating and set a $43.00 target price for the company in a research note on Thursday, August 25th. Morgan Stanley reduced their price target on Garmin from $49.00 to $46.00 and set an “equal weight” rating for the company in a research note on Thursday, August 25th. Vetr upgraded Garmin from a “sell” rating to a “hold” rating and set a $49.46 price target for the company in a research note on Wednesday, August 24th. Citigroup Inc. downgraded Garmin to a “market perform” rating in a research note on Monday, August 22nd. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded Garmin from a “buy” rating to a “hold” rating in a research note on Tuesday, October 25th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $41.52.

Garmin Company Profile

Related posts

Leave a Comment