Garmin Ltd. (NASDAQ:GRMN) shares hit a new 52-week high during trading on Monday . The company traded as high as $46.14 and last traded at $45.76, with a volume of 416,023 shares trading hands. The stock had previously closed at $46.05.

A number of research analysts have recently commented on the company. Zacks Investment Research raised Garmin from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Friday, April 29th. Raymond James Financial Inc. reissued a “buy” rating on shares of Garmin in a report on Friday, June 10th. JPMorgan Chase & Co. reissued a “sell” rating and set a $38.00 price target on shares of Garmin in a report on Wednesday, July 20th. Vetr lowered Garmin from a “buy” rating to a “hold” rating and set a $43.27 price target on the stock. in a report on Wednesday, April 13th. Finally, Pacific Crest reissued a “sector perform” rating on shares of Garmin in a report on Tuesday, April 19th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $41.04.

The company has a 50 day moving average price of $43.27 and a 200 day moving average price of $40.17. The firm has a market capitalization of $8.78 billion and a PE ratio of 18.53.

Garmin (NASDAQ:GRMN) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.20. The firm earned $812 million during the quarter, compared to the consensus estimate of $763.37 million. During the same period in the previous year, the company posted $0.72 EPS. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities research analysts predict that Garmin Ltd. will post $2.29 earnings per share for the current fiscal year.

In related news, insider Pao-Chang Huang sold 7,200 shares of the company’s stock in a transaction on Wednesday, May 11th. The shares were sold at an average price of $40.68, for a total value of $292,896.00. Following the completion of the transaction, the insider now directly owns 27,642 shares in the company, valued at $1,124,476.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Other hedge funds and institutional investors recently made changes to their positions in the company. Russell Frank Co raised its position in shares of Garmin by 4.3% in the fourth quarter. Russell Frank Co now owns 27,917 shares of the company’s stock valued at $1,042,000 after buying an additional 1,155 shares during the period. Nationwide Fund Advisors raised its position in shares of Garmin by 177.3% in the fourth quarter. Nationwide Fund Advisors now owns 98,677 shares of the company’s stock valued at $3,668,000 after buying an additional 63,094 shares during the period. California Public Employees Retirement System raised its position in shares of Garmin by 2.5% in the fourth quarter. California Public Employees Retirement System now owns 393,700 shares of the company’s stock valued at $14,634,000 after buying an additional 9,700 shares during the period. Vanguard Group Inc. raised its position in shares of Garmin by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 9,688,158 shares of the company’s stock valued at $360,109,000 after buying an additional 277,124 shares during the period. Finally, BHF Kleinwort Benson Group S.A. bought a new position in shares of Garmin during the fourth quarter valued at about $24,023,000.

Garmin Ltd. (Garmin) and subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. Garmin designs, develops, manufactures, markets and distributes a family of hand-held, wearable, portable and fixed-mount GPS-enabled products and other navigation, communications, sensor-based and information products.

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