X Square Capital LLC Buys 364 Shares of Garmin Ltd. (NYSE:GRMN)

X Square Capital LLC raised its stake in shares of Garmin Ltd. (NYSE:GRMN) by 7.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 5,521 shares of the scientific and technical instruments company’s stock after purchasing an additional 364 shares during the period. X Square Capital LLC’s holdings in Garmin were worth $972,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Select Equity Group L.P. boosted its stake in shares of Garmin by 0.6% in the second quarter. Select Equity Group L.P. now owns 2,006,563 shares of the scientific and technical instruments company’s stock worth $326,909,000 after acquiring an additional 11,666 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Garmin by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,735,623 shares of the scientific and technical instruments company’s stock worth $282,761,000 after acquiring an additional 13,968 shares during the period. Boston Partners boosted its stake in shares of Garmin by 4.3% in the first quarter. Boston Partners now owns 1,416,130 shares of the scientific and technical instruments company’s stock worth $210,799,000 after acquiring an additional 58,343 shares during the period. Marshall Wace LLP boosted its stake in shares of Garmin by 34.0% in the second quarter. Marshall Wace LLP now owns 1,098,443 shares of the scientific and technical instruments company’s stock worth $178,958,000 after acquiring an additional 278,990 shares during the period. Finally, Captrust Financial Advisors boosted its stake in shares of Garmin by 20.2% in the first quarter. Captrust Financial Advisors now owns 839,537 shares of the scientific and technical instruments company’s stock worth $124,982,000 after acquiring an additional 141,001 shares during the period. Institutional investors own 73.41% of the company’s stock.

Garmin Price Performance

Shares of GRMN stock opened at $161.57 on Thursday. Garmin Ltd. has a 1 year low of $99.61 and a 1 year high of $184.42. The stock’s 50 day simple moving average is $173.68 and its two-hundred day simple moving average is $166.11. The company has a market cap of $31.03 billion, a PE ratio of 22.79, a price-to-earnings-growth ratio of 2.85 and a beta of 0.99.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.18. Garmin had a return on equity of 17.09% and a net margin of 24.36%. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the business posted $1.45 earnings per share. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. Equities research analysts expect that Garmin Ltd. will post 6.08 EPS for the current year.

Insider Buying and Selling at Garmin

In other Garmin news, Director Philip Straub sold 2,750 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $181.46, for a total transaction of $499,015.00. Following the sale, the director now directly owns 88,622 shares in the company, valued at $16,081,348.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Cheng-Wei Wang sold 10,055 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total value of $1,781,343.80. Following the sale, the insider now directly owns 40,965 shares in the company, valued at approximately $7,257,359.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Philip Straub sold 2,750 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $181.46, for a total value of $499,015.00. Following the completion of the sale, the director now owns 88,622 shares in the company, valued at approximately $16,081,348.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,892 shares of company stock worth $2,296,174 over the last ninety days. Company insiders own 19.54% of the company’s stock.

Wall Street Analysts Forecast Growth

GRMN has been the subject of a number of recent analyst reports. Barclays lowered Garmin from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $181.00 to $133.00 in a research note on Friday, September 13th. StockNews.com lowered Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Morgan Stanley lowered Garmin from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $155.00 to $138.00 in a research note on Monday, October 7th. Finally, Tigress Financial increased their price target on Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 19th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $158.50.

Garmin Profile

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.