Garmin Ltd. (NYSE:GRMN) Shares Sold by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC trimmed its stake in Garmin Ltd. (NYSE:GRMN) by 54.3% in the second quarter, HoldingsChannel.com reports. The fund owned 32,792 shares of the scientific and technical instruments company’s stock after selling 38,984 shares during the quarter. Susquehanna Fundamental Investments LLC’s holdings in Garmin were worth $5,342,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Select Equity Group L.P. boosted its position in Garmin by 0.6% during 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 last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Garmin by 0.8% during 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 purchasing an additional 13,968 shares during the last quarter. Boston Partners grew its position 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 valued at $210,799,000 after purchasing an additional 58,343 shares during the period. Marshall Wace LLP increased its stake in 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 valued at $178,958,000 after purchasing an additional 278,990 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Garmin by 28.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 862,527 shares of the scientific and technical instruments company’s stock worth $110,869,000 after buying an additional 190,739 shares during the period. 73.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Garmin

In other news, insider Cheng-Wei Wang sold 10,055 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now owns 40,965 shares of the company’s stock, valued at $7,257,359.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Cheng-Wei Wang sold 10,055 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the transaction, the insider now directly owns 40,965 shares of the company’s stock, valued at $7,257,359.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Philip Straub sold 2,750 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were 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 of the company’s stock, valued at $16,081,348.12. The disclosure for this sale can be found here. Insiders have sold 12,892 shares of company stock valued at $2,296,174 over the last three months. 19.54% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GRMN shares. 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 research note on Thursday, September 19th. Barclays lowered shares of Garmin from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $181.00 to $133.00 in a research report on Friday, September 13th. Finally, StockNews.com lowered shares of Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $152.17.

Garmin Stock Performance

GRMN opened at $173.99 on Monday. Garmin Ltd. has a 1 year low of $99.61 and a 1 year high of $184.42. The firm has a 50 day moving average price of $174.80 and a 200 day moving average price of $163.56. The company has a market cap of $33.42 billion, a PE ratio of 24.54, a price-to-earnings-growth ratio of 3.04 and a beta of 1.00.

Garmin (NYSE:GRMN) last released its quarterly earnings data on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.18. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.42 billion. Garmin had a net margin of 24.36% and a return on equity of 17.09%. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.45 earnings per share. On average, sell-side analysts predict that Garmin Ltd. will post 6.05 earnings per share for the current year.

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.