BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $4.51 Million Stake in Garmin Ltd. (NYSE:GRMN)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its holdings in Garmin Ltd. (NYSE:GRMN) by 12.8% during the 3rd quarter, Holdings Channel reports. The fund owned 25,635 shares of the scientific and technical instruments company’s stock after selling 3,748 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Garmin were worth $4,513,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Sumitomo Life Insurance Co. raised its position in Garmin by 0.9% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 6,686 shares of the scientific and technical instruments company’s stock valued at $1,177,000 after purchasing an additional 61 shares during the last quarter. Elo Mutual Pension Insurance Co raised its holdings in shares of Garmin by 0.5% in the second quarter. Elo Mutual Pension Insurance Co now owns 14,056 shares of the scientific and technical instruments company’s stock valued at $2,290,000 after buying an additional 70 shares during the last quarter. UMB Bank n.a. lifted its position in Garmin by 2.6% during the 2nd quarter. UMB Bank n.a. now owns 2,879 shares of the scientific and technical instruments company’s stock worth $469,000 after buying an additional 74 shares in the last quarter. Buckingham Capital Management Inc. grew its holdings in Garmin by 0.7% during the 3rd quarter. Buckingham Capital Management Inc. now owns 11,715 shares of the scientific and technical instruments company’s stock worth $2,062,000 after acquiring an additional 80 shares during the last quarter. Finally, Brighton Jones LLC increased its position in Garmin by 5.8% in the 2nd quarter. Brighton Jones LLC now owns 1,522 shares of the scientific and technical instruments company’s stock valued at $248,000 after acquiring an additional 83 shares in the last quarter. 73.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Sean Biddlecombe sold 587 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $210.10, for a total transaction of $123,328.70. Following the sale, the director now owns 6,147 shares of the company’s stock, valued at approximately $1,291,484.70. This trade represents a 8.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 19.54% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GRMN shares. StockNews.com lowered shares of Garmin from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Barclays upped their price objective on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Morgan Stanley cut Garmin from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $155.00 to $138.00 in a research note on Monday, October 7th. Finally, Tigress Financial upped 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 investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $162.67.

Garmin Stock Up 0.3 %

GRMN stock opened at $213.29 on Tuesday. Garmin Ltd. has a twelve month low of $119.15 and a twelve month high of $216.44. The business’s fifty day moving average is $187.67 and its 200-day moving average is $175.83. The company has a market cap of $40.96 billion, a P/E ratio of 27.07, a price-to-earnings-growth ratio of 1.40 and a beta of 0.97.

Garmin (NYSE:GRMN) last issued its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.53. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The company’s revenue was up 24.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.41 earnings per share. Research analysts anticipate that Garmin Ltd. will post 7.01 earnings per share for the current fiscal year.

About Garmin

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.