3,946 Shares in Garmin Ltd. (NYSE:GRMN) Purchased by Dynamic Advisor Solutions LLC

Dynamic Advisor Solutions LLC bought a new position in shares of Garmin Ltd. (NYSE:GRMN) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,946 shares of the scientific and technical instruments company’s stock, valued at approximately $695,000.

Several other institutional investors and hedge funds have also bought and sold shares of GRMN. AQR Capital Management LLC raised its holdings in Garmin by 136.7% during 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 in the last quarter. Renaissance Technologies LLC acquired a new position in Garmin during the second quarter worth approximately $45,999,000. Marshall Wace LLP increased its position in Garmin by 34.0% during 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 buying an additional 278,990 shares during the last quarter. M&G Plc acquired a new position in Garmin during the first quarter worth approximately $38,727,000. Finally, Goldman Sachs Group Inc. increased 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 last quarter. Institutional investors own 73.41% of the company’s stock.

Insiders Place Their Bets

In other Garmin news, Director Philip Straub sold 2,750 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $181.46, for a total transaction of $499,015.00. Following the completion of the sale, the director now directly owns 88,622 shares in the company, valued at $16,081,348.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Cheng-Wei Wang sold 10,055 shares of the 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 completion of the transaction, the insider now directly owns 40,965 shares in the company, valued at approximately $7,257,359.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Philip Straub sold 2,750 shares of the 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 transaction, the director now owns 88,622 shares of the company’s stock, valued at $16,081,348.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,892 shares of company stock worth $2,296,174 over the last three months. Insiders own 19.54% of the company’s stock.

Analyst Upgrades and Downgrades

GRMN has been the topic of a number of recent analyst reports. Barclays downgraded 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 downgraded Garmin from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Tigress Financial upped their target price on Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 19th. Finally, Morgan Stanley downgraded Garmin from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $155.00 to $138.00 in a research report on Monday, October 7th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Garmin has an average rating of “Hold” and an average target price of $158.50.

Garmin Price Performance

Shares of NYSE:GRMN opened at $165.89 on Friday. The company has a market capitalization of $31.89 billion, a P/E ratio of 23.25, a P/E/G ratio of 2.85 and a beta of 0.99. Garmin Ltd. has a 1 year low of $99.61 and a 1 year high of $184.42. The business’s 50 day simple moving average is $173.83 and its 200 day simple moving average is $164.81.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.18. Garmin had a return on equity of 17.09% and a net margin of 24.36%. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the business posted $1.45 earnings per share. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Garmin Ltd. will post 6.08 EPS 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.