Garmin Ltd. (NASDAQ:GRMN) Shares Bought by O Shares Investment Advisers LLC

O Shares Investment Advisers LLC lifted its stake in Garmin Ltd. (NASDAQ:GRMN) by 3.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 6,302 shares of the scientific and technical instruments company’s stock after buying an additional 184 shares during the quarter. O Shares Investment Advisers LLC’s holdings in Garmin were worth $544,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc increased its holdings in Garmin by 9.0% during the 3rd quarter. Vanguard Group Inc now owns 12,760,863 shares of the scientific and technical instruments company’s stock worth $893,899,000 after purchasing an additional 1,057,737 shares in the last quarter. Rhumbline Advisers increased its holdings in Garmin by 1.0% during the 4th quarter. Rhumbline Advisers now owns 200,534 shares of the scientific and technical instruments company’s stock worth $12,698,000 after purchasing an additional 1,891 shares in the last quarter. TD Asset Management Inc. increased its holdings in Garmin by 6.3% during the 4th quarter. TD Asset Management Inc. now owns 55,187 shares of the scientific and technical instruments company’s stock worth $3,494,000 after purchasing an additional 3,289 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Garmin by 41.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 21,525 shares of the scientific and technical instruments company’s stock worth $1,363,000 after purchasing an additional 6,312 shares in the last quarter. Finally, ETF Managers Group LLC increased its holdings in Garmin by 15.7% during the 4th quarter. ETF Managers Group LLC now owns 2,210 shares of the scientific and technical instruments company’s stock worth $140,000 after purchasing an additional 300 shares in the last quarter. 42.60% of the stock is owned by hedge funds and other institutional investors.

GRMN has been the subject of a number of research reports. Zacks Investment Research upgraded Garmin from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a report on Monday, February 25th. BidaskClub upgraded Garmin from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 13th. Longbow Research cut Garmin from a “buy” rating to a “neutral” rating and set a $81.95 target price for the company. in a report on Thursday, February 21st. They noted that the move was a valuation call. ValuEngine cut Garmin from a “buy” rating to a “hold” rating in a report on Tuesday, February 19th. Finally, Morgan Stanley set a $81.00 price objective on Garmin and gave the company a “hold” rating in a report on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $78.66.

Shares of NASDAQ GRMN traded up $0.48 during mid-day trading on Wednesday, hitting $80.69. The company had a trading volume of 23,224 shares, compared to its average volume of 1,156,126. The stock has a market capitalization of $15.92 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 2.87 and a beta of 0.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.04 and a quick ratio of 3.07. Garmin Ltd. has a one year low of $59.39 and a one year high of $89.72.

Garmin (NASDAQ:GRMN) last announced its quarterly earnings data on Wednesday, May 1st. The scientific and technical instruments company reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The company had revenue of $766.00 million during the quarter, compared to analysts’ expectations of $733.26 million. Garmin had a return on equity of 17.60% and a net margin of 20.72%. Garmin’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.68 EPS. On average, sell-side analysts expect that Garmin Ltd. will post 3.74 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Friday, September 13th. Garmin’s payout ratio is 57.45%.

In other news, EVP Patrick Desbois sold 1,749 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $86.00, for a total value of $150,414.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 23.83% of the stock is owned by company insiders.

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Garmin Profile

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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