Cullen Frost Bankers Inc. increased its stake in Garmin Ltd. (NASDAQ:GRMN) by 37.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,295 shares of the scientific and technical instruments company’s stock after acquiring an additional 350 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Garmin were worth $110,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in GRMN. Pearl River Capital LLC bought a new stake in shares of Garmin in the 2nd quarter valued at $31,000. HM Payson & Co. bought a new stake in shares of Garmin in the 2nd quarter valued at $37,000. Quest Capital Management Inc. ADV bought a new stake in shares of Garmin in the 3rd quarter valued at $38,000. Amica Retiree Medical Trust bought a new stake in shares of Garmin in the 2nd quarter valued at $43,000. Finally, CSat Investment Advisory L.P. increased its stake in shares of Garmin by 103.4% in the 2nd quarter. CSat Investment Advisory L.P. now owns 708 shares of the scientific and technical instruments company’s stock valued at $56,000 after acquiring an additional 360 shares in the last quarter. Institutional investors own 42.08% of the company’s stock.

In related news, Chairman Min H. Kao sold 181,375 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $93.23, for a total value of $16,909,591.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Sean Biddlecombe sold 316 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $80.39, for a total value of $25,403.24. The disclosure for this sale can be found here. Insiders sold a total of 1,792,547 shares of company stock worth $155,189,747 over the last 90 days. 23.83% of the stock is currently owned by company insiders.

Several analysts have recently weighed in on the stock. ValuEngine lowered shares of Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Morgan Stanley lifted their price objective on shares of Garmin from $81.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Tigress Financial reiterated a “buy” rating on shares of Garmin in a research note on Friday, August 16th. Finally, BidaskClub upgraded shares of Garmin from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Garmin currently has an average rating of “Hold” and an average target price of $79.33.

Shares of GRMN stock opened at $95.89 on Friday. The firm has a fifty day simple moving average of $87.50 and a two-hundred day simple moving average of $81.92. The company has a current ratio of 2.64, a quick ratio of 1.93 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $18.48 billion, a PE ratio of 25.99, a price-to-earnings-growth ratio of 3.05 and a beta of 0.91. Garmin Ltd. has a 12 month low of $59.98 and a 12 month high of $96.44.

Garmin (NASDAQ:GRMN) last issued its quarterly earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.32. The company had revenue of $934.38 million for the quarter, compared to the consensus estimate of $869.02 million. Garmin had a net margin of 21.79% and a return on equity of 18.73%. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.00 EPS. On average, equities analysts predict that Garmin Ltd. will post 4.16 earnings per share for the current fiscal year.

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.

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Institutional Ownership by Quarter for Garmin (NASDAQ:GRMN)

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