Garmin Ltd. (NYSE:GRMN) Position Boosted by TD Asset Management Inc

TD Asset Management Inc grew its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 1.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,983 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,144 shares during the period. TD Asset Management Inc’s holdings in Garmin were worth $6,360,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Financial Gravity Asset Management Inc. boosted its holdings in shares of Garmin by 155.2% in the second quarter. Financial Gravity Asset Management Inc. now owns 171 shares of the scientific and technical instruments company’s stock worth $433,000 after buying an additional 104 shares during the period. Spire Wealth Management acquired a new position in shares of Garmin in the first quarter worth about $28,000. Clear Street Markets LLC boosted its holdings in shares of Garmin by 107.1% in the first quarter. Clear Street Markets LLC now owns 321 shares of the scientific and technical instruments company’s stock worth $32,000 after buying an additional 166 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of Garmin in the first quarter worth about $48,000. Finally, Industrial Alliance Investment Management Inc. acquired a new position in shares of Garmin in the fourth quarter worth about $53,000. Institutional investors own 63.26% of the company’s stock.

Insider Activity

In other news, CEO Clifton A. Pemble sold 5,000 shares of Garmin stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $120.00, for a total value of $600,000.00. Following the transaction, the chief executive officer now owns 115,629 shares of the company’s stock, valued at $13,875,480. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Cheng-Wei Wang sold 4,794 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $105.62, for a total transaction of $506,342.28. Following the transaction, the insider now owns 44,808 shares of the company’s stock, valued at $4,732,620.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Clifton A. Pemble sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $120.00, for a total transaction of $600,000.00. Following the transaction, the chief executive officer now directly owns 115,629 shares in the company, valued at approximately $13,875,480. The disclosure for this sale can be found here. Insiders own 19.89% of the company’s stock.

Analyst Ratings Changes

GRMN has been the subject of several research reports. StockNews.com initiated coverage on shares of Garmin in a report on Thursday, October 5th. They set a “hold” rating for the company. JPMorgan Chase & Co. raised their price target on shares of Garmin from $118.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, November 2nd. Tigress Financial restated a “strong-buy” rating and set a $165.00 price target on shares of Garmin in a report on Thursday, August 10th. Bank of America raised their price target on shares of Garmin from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, August 8th. Finally, Barclays raised their price objective on shares of Garmin from $113.00 to $119.00 and gave the company an “equal weight” rating in a research report on Thursday, November 2nd. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $127.80.

Garmin Stock Up 0.5 %

NYSE:GRMN opened at $120.07 on Tuesday. Garmin Ltd. has a 12 month low of $89.00 and a 12 month high of $120.40. The firm has a market cap of $22.97 billion, a price-to-earnings ratio of 22.15, a P/E/G ratio of 4.02 and a beta of 0.90. The company’s 50 day moving average is $108.22 and its 200-day moving average is $105.97.

Garmin (NYSE:GRMN) last released its quarterly earnings results on Wednesday, November 1st. The scientific and technical instruments company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.12. Garmin had a net margin of 20.60% and a return on equity of 16.00%. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the firm posted $1.24 earnings per share. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. Research analysts predict that Garmin Ltd. will post 5.28 EPS for the current fiscal year.

About Garmin

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices in the Americas, the Asia Pacific, Australian Continent, Europe, the Middle East, and Africa. Its Fitness segment offers running and multi-sport watches; cycling products; activity tracking and smartwatch devices; fitness and cycling accessories.