2,848 Shares in Garmin Ltd. (NYSE:GRMN) Bought by Virtu Financial LLC

Virtu Financial LLC bought a new position in Garmin Ltd. (NYSE:GRMN) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,848 shares of the scientific and technical instruments company’s stock, valued at approximately $501,000.

Other hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in Garmin by 15.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,726 shares of the scientific and technical instruments company’s stock valued at $1,910,000 after acquiring an additional 1,564 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Garmin by 18.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 2,018 shares of the scientific and technical instruments company’s stock valued at $329,000 after acquiring an additional 321 shares in the last quarter. Blue Trust Inc. boosted its holdings in Garmin by 277.6% in the second quarter. Blue Trust Inc. now owns 623 shares of the scientific and technical instruments company’s stock valued at $93,000 after acquiring an additional 458 shares in the last quarter. Pallas Capital Advisors LLC bought a new stake in Garmin in the second quarter valued at $288,000. Finally, Fifth Third Bancorp boosted its holdings in Garmin by 4.7% in the second quarter. Fifth Third Bancorp now owns 6,014 shares of the scientific and technical instruments company’s stock valued at $980,000 after acquiring an additional 268 shares in the last quarter. 81.60% of the stock is owned by hedge funds and other institutional investors.

Garmin Stock Performance

Shares of GRMN stock opened at $215.40 on Monday. Garmin Ltd. has a one year low of $119.15 and a one year high of $222.97. The company’s 50-day moving average is $195.59 and its 200 day moving average is $178.98. The company has a market capitalization of $41.36 billion, a price-to-earnings ratio of 27.34, a price-to-earnings-growth ratio of 1.46 and a beta of 0.97.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.46 by $0.53. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the prior year, the firm posted $1.41 EPS. Garmin’s revenue for the quarter was up 24.1% on a year-over-year basis. As a group, research analysts predict that Garmin Ltd. will post 7.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on GRMN. StockNews.com cut shares of Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Barclays upped their target price on shares of Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research report on Friday, November 1st. Tigress Financial upped their target price on shares of Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 19th. Finally, Morgan Stanley downgraded shares of Garmin from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $155.00 to $138.00 in a research report 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $162.67.

Insider Activity at Garmin

In other Garmin news, Director Sean Biddlecombe sold 587 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $210.10, for a total transaction of $123,328.70. Following the transaction, the director now owns 6,147 shares in the company, valued at approximately $1,291,484.70. This represents a 8.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 19.54% of the stock is currently owned by insiders.

Garmin Company 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.