Garmin Ltd. (NASDAQ:GRMN) shares reached a new 52-week high during trading on Friday . The company traded as high as $61.68 and last traded at $60.75, with a volume of 859100 shares trading hands. The stock had previously closed at $60.29.

GRMN has been the topic of a number of recent research reports. Longbow Research reaffirmed a “buy” rating on shares of Garmin in a research note on Thursday, August 3rd. Zacks Investment Research raised Garmin from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a research note on Thursday, November 2nd. ValuEngine raised Garmin from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. Morgan Stanley raised their price objective on Garmin from $52.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, November 2nd. Finally, KeyCorp reaffirmed a “hold” rating on shares of Garmin in a research note on Wednesday, November 1st. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $56.33.

The company has a market cap of $12,040.00, a P/E ratio of 20.93, a PEG ratio of 2.49 and a beta of 0.80.

Garmin (NASDAQ:GRMN) last posted its earnings results on Wednesday, November 1st. The scientific and technical instruments company reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.09. The company had revenue of $743.00 million for the quarter, compared to analysts’ expectations of $722.00 million. Garmin had a return on equity of 15.23% and a net margin of 22.65%. Garmin’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the firm earned $0.75 earnings per share. equities analysts predict that Garmin Ltd. will post 2.9 earnings per share for the current fiscal year.

In other Garmin news, VP Andrew R. Etkind sold 1,724 shares of the firm’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $52.50, for a total value of $90,510.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Jonathan Burrell sold 253,000 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $60.61, for a total transaction of $15,334,330.00. The disclosure for this sale can be found here. Insiders sold 1,551,148 shares of company stock worth $86,920,736 over the last three months. 18.30% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd purchased a new stake in Garmin in the second quarter worth about $376,000. Royal Bank of Canada lifted its holdings in Garmin by 30.4% in the second quarter. Royal Bank of Canada now owns 231,794 shares of the scientific and technical instruments company’s stock worth $11,827,000 after buying an additional 53,984 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in Garmin by 3.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 722,581 shares of the scientific and technical instruments company’s stock worth $36,874,000 after buying an additional 24,777 shares during the period. State of Wisconsin Investment Board lifted its holdings in Garmin by 46.0% in the second quarter. State of Wisconsin Investment Board now owns 120,741 shares of the scientific and technical instruments company’s stock worth $6,161,000 after buying an additional 38,020 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Garmin by 8.8% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 256,239 shares of the scientific and technical instruments company’s stock worth $13,076,000 after buying an additional 20,690 shares during the period. Institutional investors and hedge funds own 38.01% of the company’s stock.

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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.

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