Wells Fargo & Company MN raised its holdings in shares of Garmin Ltd. (NASDAQ:GRMN) by 57.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 787,899 shares of the scientific and technical instruments company’s stock after buying an additional 287,935 shares during the period. Wells Fargo & Company MN owned about 0.40% of Garmin worth $55,193,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Flagship Harbor Advisors LLC purchased a new position in shares of Garmin during the second quarter valued at approximately $108,000. First Hawaiian Bank purchased a new position in shares of Garmin during the third quarter valued at approximately $118,000. Sun Life Financial INC boosted its position in shares of Garmin by 1,601.7% during the second quarter. Sun Life Financial INC now owns 1,974 shares of the scientific and technical instruments company’s stock valued at $120,000 after buying an additional 1,858 shares during the period. Fort L.P. purchased a new position in shares of Garmin during the second quarter valued at approximately $121,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of Garmin by 3,291.9% during the second quarter. Tower Research Capital LLC TRC now owns 2,103 shares of the scientific and technical instruments company’s stock valued at $128,000 after buying an additional 2,041 shares during the period. Institutional investors and hedge funds own 40.59% of the company’s stock.

GRMN has been the subject of a number of research reports. Longbow Research set a $75.00 price target on Garmin and gave the company a “buy” rating in a report on Thursday, September 20th. Morgan Stanley set a $77.00 price target on Garmin and gave the company an “equal weight” rating in a report on Friday, September 21st. BidaskClub lowered Garmin from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 4th. Finally, Bank of America set a $70.00 price target on Garmin and gave the company a “sell” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $67.83.

In related news, Chairman Min H. Kao sold 295,361 shares of the business’s stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $64.95, for a total value of $19,183,696.95. Following the completion of the transaction, the chairman now owns 1,901,429 shares of the company’s stock, valued at $123,497,813.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Clifton A. Pemble sold 15,637 shares of the business’s stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $70.00, for a total transaction of $1,094,590.00. The disclosure for this sale can be found here. Insiders sold 3,448,047 shares of company stock valued at $223,362,321 in the last quarter. 17.85% of the stock is owned by company insiders.

Shares of NASDAQ GRMN opened at $65.48 on Monday. The company has a market capitalization of $12.97 billion, a P/E ratio of 22.27, a PEG ratio of 2.57 and a beta of 0.98. Garmin Ltd. has a 52-week low of $57.01 and a 52-week high of $70.77.

Garmin (NASDAQ:GRMN) last announced its quarterly earnings results on Wednesday, October 31st. The scientific and technical instruments company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.24. The firm had revenue of $810.01 million during the quarter, compared to analyst estimates of $784.06 million. Garmin had a return on equity of 16.95% and a net margin of 19.45%. Garmin’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.75 earnings per share. As a group, research analysts expect that Garmin Ltd. will post 3.47 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This piece of content was first reported by Daily Political and is the sole property of of Daily Political. If you are reading this piece of content on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright legislation. The correct version of this piece of content can be viewed at https://www.dailypolitical.com/2018/11/19/garmin-ltd-grmn-holdings-lifted-by-wells-fargo-company-mn.html.

About Garmin

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices worldwide. It operates through five segments: Auto, Aviation, Marine, Outdoor, and Fitness. The Auto segment offers personal navigation devices; infotainment systems; and action cameras, as well as mobile applications under the Garmin and NAVIGON names.

See Also: What is the float in trading stocks?

Institutional Ownership by Quarter for Garmin (NASDAQ:GRMN)

Receive News & Ratings for Garmin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Garmin and related companies with MarketBeat.com's FREE daily email newsletter.