Newfound Research LLC Sells 228 Shares of Garmin Ltd. (NASDAQ:GRMN)

Newfound Research LLC decreased its position in Garmin Ltd. (NASDAQ:GRMN) by 36.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 395 shares of the scientific and technical instruments company’s stock after selling 228 shares during the quarter. Newfound Research LLC’s holdings in Garmin were worth $61,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Carolinas Wealth Consulting LLC increased its stake in shares of Garmin by 123.5% during the second quarter. Carolinas Wealth Consulting LLC now owns 190 shares of the scientific and technical instruments company’s stock valued at $27,000 after buying an additional 105 shares during the period. Berman Capital Advisors LLC increased its position in Garmin by 139.6% during the third quarter. Berman Capital Advisors LLC now owns 230 shares of the scientific and technical instruments company’s stock valued at $35,000 after acquiring an additional 134 shares during the last quarter. Arkadios Wealth Advisors increased its position in Garmin by 34.4% in the second quarter. Arkadios Wealth Advisors now owns 289 shares of the scientific and technical instruments company’s stock worth $41,000 after buying an additional 74 shares in the last quarter. Bartlett & Co. LLC purchased a new stake in Garmin in the second quarter worth about $51,000. Finally, Bbva USA purchased a new stake in shares of Garmin during the second quarter worth about $52,000. Institutional investors own 62.40% of the company’s stock.

NASDAQ:GRMN traded up $0.33 during mid-day trading on Thursday, reaching $143.11. The stock had a trading volume of 782,978 shares, compared to its average volume of 687,541. The firm has a market capitalization of $27.52 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 3.69 and a beta of 0.96. Garmin Ltd. has a twelve month low of $113.59 and a twelve month high of $178.80. The business has a 50 day simple moving average of $153.66 and a 200 day simple moving average of $153.73.

Garmin (NASDAQ:GRMN) last posted its quarterly earnings results on Wednesday, October 27th. The scientific and technical instruments company reported $1.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.14. Garmin had a net margin of 22.85% and a return on equity of 20.42%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the firm earned $1.58 EPS. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities research analysts forecast that Garmin Ltd. will post 5.7 earnings per share for the current year.

GRMN has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft decreased their price target on Garmin from $155.00 to $148.00 and set a “hold” rating for the company in a research note on Friday, November 5th. Morgan Stanley lowered their price objective on Garmin from $147.00 to $141.00 and set an “equal weight” rating for the company in a research report on Thursday, October 28th. Zacks Investment Research cut Garmin from a “buy” rating to a “hold” rating and set a $163.00 price target for the company. in a research report on Tuesday, October 5th. Finally, Tigress Financial boosted their price objective on Garmin from $198.00 to $202.00 and gave the company a “strong-buy” rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $154.57.

Garmin Company Profile

Garmin Ltd. is a holding company, which engages in the provision of navigation, communications and information devices, most of which are enabled by Global Positioning System (GPS) technology. It operates through the following five segments: Marine, Outdoor, Fitness, Auto and Aviation. The Marine segment manufactures and offers recreational marine electronics such as cartography, Sounders, Radar, Autopilot Systems and Sailing.

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Institutional Ownership by Quarter for Garmin (NASDAQ:GRMN)

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