California State Teachers Retirement System grew its stake in Garmin Ltd. (NASDAQ:GRMN) by 2.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 233,230 shares of the scientific and technical instruments company’s stock after acquiring an additional 4,908 shares during the quarter. California State Teachers Retirement System owned about 0.12% of Garmin worth $11,902,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. increased its stake in shares of Garmin by 8.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 99,400 shares of the scientific and technical instruments company’s stock worth $5,072,000 after acquiring an additional 7,786 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Garmin by 8,318.2% in the 2nd quarter. Janus Henderson Group PLC now owns 1,257,516 shares of the scientific and technical instruments company’s stock worth $64,171,000 after acquiring an additional 1,242,578 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Garmin by 30.4% in the 2nd quarter. Royal Bank of Canada now owns 231,794 shares of the scientific and technical instruments company’s stock worth $11,827,000 after acquiring an additional 53,984 shares during the last quarter. AHL Partners LLP increased its stake in shares of Garmin by 58.9% in the 2nd quarter. AHL Partners LLP now owns 151,572 shares of the scientific and technical instruments company’s stock worth $7,735,000 after acquiring an additional 56,161 shares during the last quarter. Finally, Tudor Investment Corp ET AL increased its stake in shares of Garmin by 64.7% in the 2nd quarter. Tudor Investment Corp ET AL now owns 32,951 shares of the scientific and technical instruments company’s stock worth $1,681,000 after acquiring an additional 12,947 shares during the last quarter. 39.59% of the stock is owned by institutional investors and hedge funds.

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In other Garmin news, VP Andrew R. Etkind sold 2,189 shares of the company’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $52.00, for a total transaction of $113,828.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Jonathan Burrell sold 231,500 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $51.20, for a total value of $11,852,800.00. The disclosure for this sale can be found here. Insiders have sold 984,130 shares of company stock valued at $50,943,988 over the last 90 days. 18.30% of the stock is currently owned by insiders.

Shares of Garmin Ltd. (NASDAQ:GRMN) opened at 55.80 on Friday. The firm has a market capitalization of $10.47 billion, a P/E ratio of 15.68 and a beta of 0.86. Garmin Ltd. has a 12 month low of $46.80 and a 12 month high of $55.87. The company’s 50 day moving average price is $53.49 and its 200-day moving average price is $51.87.

Garmin (NASDAQ:GRMN) last released its earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.07. The firm had revenue of $816.89 million during the quarter, compared to analyst estimates of $806.67 million. Garmin had a return on equity of 15.55% and a net margin of 22.07%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.87 earnings per share. On average, equities analysts predict that Garmin Ltd. will post $2.80 earnings per share for the current fiscal year.

A number of analysts have issued reports on the company. Longbow Research reaffirmed a “buy” rating on shares of Garmin in a research note on Thursday, August 3rd. Tigress Financial reissued a “buy” rating on shares of Garmin in a research report on Monday, July 10th. Oppenheimer Holdings, Inc. reissued a “market perform” rating on shares of Garmin in a research report on Tuesday, August 8th. Zacks Investment Research downgraded Garmin from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, BidaskClub downgraded Garmin from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $52.80.

Garmin Company Profile

Garmin Ltd. (Garmin) and subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. The Company operates through five segments. It offers a range of auto navigation products, as well as a range of products and applications designed for the mobile GPS market. It offers products to consumers around the world, including Outdoor Handhelds, Wearable Devices, Golf Devices, and Dog Tracking and Training/Pet Obedience Devices.

Institutional Ownership by Quarter for Garmin (NASDAQ:GRMN)

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