Stifel Financial Corp Has $5.27 Million Position in Garmin Ltd. (GRMN)
Stifel Financial Corp boosted its position in Garmin Ltd. (NASDAQ:GRMN) by 7.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 97,920 shares of the scientific and technical instruments company’s stock after acquiring an additional 6,967 shares during the quarter. Stifel Financial Corp’s holdings in Garmin were worth $5,271,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of GRMN. US Bancorp DE raised its holdings in Garmin by 8.8% in the second quarter. US Bancorp DE now owns 2,215 shares of the scientific and technical instruments company’s stock valued at $113,000 after acquiring an additional 180 shares in the last quarter. Schwab Charles Investment Management Inc. raised 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 valued at $36,874,000 after acquiring an additional 24,777 shares in the last quarter. Arizona State Retirement System raised its holdings in Garmin by 0.3% in the second quarter. Arizona State Retirement System now owns 38,429 shares of the scientific and technical instruments company’s stock valued at $1,961,000 after acquiring an additional 100 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Garmin by 28.7% in the second quarter. DekaBank Deutsche Girozentrale now owns 17,137 shares of the scientific and technical instruments company’s stock valued at $901,000 after acquiring an additional 3,826 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in Garmin by 3.1% during the second quarter. Rhumbline Advisers now owns 185,750 shares of the scientific and technical instruments company’s stock worth $9,479,000 after purchasing an additional 5,522 shares in the last quarter. 39.37% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have weighed in on GRMN. Zacks Investment Research cut shares of Garmin from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. BidaskClub cut shares of Garmin from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. Morgan Stanley raised their price objective on shares of Garmin from $52.00 to $57.00 and gave the stock an “equal weight” rating in a report on Thursday, November 2nd. KeyCorp reissued a “hold” rating on shares of Garmin in a report on Wednesday, November 1st. Finally, Credit Suisse Group reissued an “underperform” rating and set a $58.00 price objective (up previously from $48.00) on shares of Garmin in a report on Tuesday. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $56.57.
In other news, insider Sean Biddlecombe sold 755 shares of Garmin stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $60.80, for a total value of $45,904.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Andrew R. Etkind sold 2,073 shares of Garmin stock in a transaction on Monday, September 25th. The shares were sold at an average price of $53.00, for a total transaction of $109,869.00. The disclosure for this sale can be found here. Insiders sold a total of 1,065,943 shares of company stock worth $64,477,247 over the last ninety days. Corporate insiders own 18.30% of the company’s stock.
Shares of Garmin Ltd. (NASDAQ:GRMN) opened at $58.36 on Friday. Garmin Ltd. has a 1-year low of $47.03 and a 1-year high of $63.15. The firm has a market cap of $11,148.75, a P/E ratio of 20.65, a price-to-earnings-growth ratio of 2.46 and a beta of 0.84.
Garmin (NASDAQ:GRMN) last released its quarterly earnings data on Wednesday, November 1st. The scientific and technical instruments company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 22.65% and a return on equity of 15.23%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the company earned $0.75 earnings per share. research analysts anticipate that Garmin Ltd. will post 2.9 earnings per share for the current fiscal year.
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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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