Garmin Ltd. (NYSE:GRMN) Shares Purchased by Fulton Bank N.A.

Fulton Bank N.A. lifted its stake in Garmin Ltd. (NYSE:GRMN) by 5.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,241 shares of the scientific and technical instruments company’s stock after purchasing an additional 115 shares during the quarter. Fulton Bank N.A.’s holdings in Garmin were worth $394,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in GRMN. AQR Capital Management LLC grew its position in Garmin by 136.7% in the second quarter. AQR Capital Management LLC now owns 711,849 shares of the scientific and technical instruments company’s stock worth $115,177,000 after acquiring an additional 411,084 shares during the period. Renaissance Technologies LLC purchased a new position in Garmin in the second quarter worth approximately $45,999,000. Marshall Wace LLP grew its position 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 worth $178,958,000 after acquiring an additional 278,990 shares during the period. M&G Plc purchased a new position in shares of Garmin during the first quarter worth $38,727,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of 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 Garmin news, Director Philip Straub sold 2,750 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 88,622 shares in the company, valued at $16,081,348.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Garmin news, insider Cheng-Wei Wang sold 10,055 shares of the firm’s stock in a transaction 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 $7,257,359.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 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. This represents 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. Corporate insiders own 19.54% of the company’s stock.

Garmin Trading Up 0.4 %

Shares of NYSE GRMN opened at $165.31 on Thursday. The stock has a market cap of $31.75 billion, a P/E ratio of 23.32, a PEG ratio of 3.04 and a beta of 0.99. Garmin Ltd. has a 12-month low of $99.61 and a 12-month high of $184.42. The business’s fifty day simple moving average is $174.05 and its 200-day simple moving average is $164.80.

Garmin (NYSE:GRMN) last announced 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 the consensus estimate of $1.40 by $0.18. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Garmin had a return on equity of 17.09% and a net margin of 24.36%. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period last year, the firm earned $1.45 earnings per share. On average, equities analysts forecast that Garmin Ltd. will post 6.05 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on GRMN shares. Tigress Financial raised their price target on Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 19th. Barclays lowered Garmin from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $181.00 to $133.00 in a research report on Friday, September 13th. StockNews.com lowered Garmin from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Finally, Morgan Stanley lowered Garmin from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $155.00 to $138.00 in a research report on Monday. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.