MML Investors Services LLC Decreases Stock Holdings in Garmin Ltd. (NYSE:GRMN)

MML Investors Services LLC lessened its stake in Garmin Ltd. (NYSE:GRMN) by 1.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,468 shares of the scientific and technical instruments company’s stock after selling 533 shares during the period. MML Investors Services LLC’s holdings in Garmin were worth $5,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in GRMN. Orion Portfolio Solutions LLC grew its position in shares of Garmin by 9.3% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 7,800 shares of the scientific and technical instruments company’s stock worth $1,373,000 after buying an additional 664 shares during the last quarter. XTX Topco Ltd acquired a new stake in Garmin in the third quarter valued at approximately $668,000. National Bank of Canada FI grew its holdings in Garmin by 22.7% in the third quarter. National Bank of Canada FI now owns 15,584 shares of the scientific and technical instruments company’s stock worth $2,743,000 after purchasing an additional 2,883 shares during the last quarter. Wahed Invest LLC increased its position in shares of Garmin by 11.3% during the third quarter. Wahed Invest LLC now owns 3,760 shares of the scientific and technical instruments company’s stock worth $662,000 after purchasing an additional 382 shares in the last quarter. Finally, Weiss Asset Management LP purchased a new stake in shares of Garmin during the 3rd quarter valued at $2,869,000. 81.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Barclays upped their target price on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research report on Friday, November 1st. Tigress Financial upped their price objective on shares of Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a report on Thursday, September 19th. StockNews.com cut shares of Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Finally, Morgan Stanley lowered shares of Garmin from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $155.00 to $138.00 in a research note on Monday, October 7th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $162.67.

Insider Buying and Selling

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

Garmin Trading Down 2.2 %

Shares of NYSE:GRMN opened at $215.97 on Friday. Garmin Ltd. has a twelve month low of $119.15 and a twelve month high of $222.97. The company has a market cap of $41.47 billion, a PE ratio of 27.41, a price-to-earnings-growth ratio of 1.44 and a beta of 0.97. The company’s 50 day moving average is $194.68 and its 200 day moving average is $178.51.

Garmin (NYSE:GRMN) last released its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share 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 analyst estimates of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The business’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.41 earnings per share. Equities research analysts predict 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.