abrdn plc Has $11.82 Million Stock Holdings in Garmin Ltd. (NYSE:GRMN)

abrdn plc raised its holdings in Garmin Ltd. (NYSE:GRMN) by 6.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 67,616 shares of the scientific and technical instruments company’s stock after purchasing an additional 4,005 shares during the quarter. abrdn plc’s holdings in Garmin were worth $11,823,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Norden Group LLC acquired a new position in shares of Garmin in the 1st quarter worth approximately $847,000. Ashton Thomas Private Wealth LLC boosted its stake in Garmin by 55.4% in the first quarter. Ashton Thomas Private Wealth LLC now owns 6,233 shares of the scientific and technical instruments company’s stock valued at $928,000 after acquiring an additional 2,223 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Garmin by 4.5% in the first quarter. Janney Montgomery Scott LLC now owns 135,709 shares of the scientific and technical instruments company’s stock worth $20,203,000 after buying an additional 5,863 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in Garmin in the 1st quarter valued at about $164,000. Finally, Nordea Investment Management AB lifted its stake in shares of Garmin by 4.4% during the 1st quarter. Nordea Investment Management AB now owns 10,111 shares of the scientific and technical instruments company’s stock valued at $1,503,000 after buying an additional 430 shares in the last quarter. 73.41% of the stock is owned by institutional investors and hedge funds.

Garmin Trading Down 0.2 %

Shares of GRMN opened at $198.05 on Friday. The firm has a market capitalization of $38.07 billion, a P/E ratio of 25.13, a P/E/G ratio of 3.52 and a beta of 0.99. Garmin Ltd. has a 12-month low of $112.01 and a 12-month high of $207.22. The firm has a fifty day moving average price of $174.22 and a 200-day moving average price of $167.62.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.53. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period last year, the business posted $1.41 EPS. The business’s revenue was up 24.1% compared to the same quarter last year. Analysts predict that Garmin Ltd. will post 6.09 earnings per share for the current year.

Insider Buying and Selling at Garmin

In other news, Director Philip Straub sold 2,750 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 88,622 shares of the company’s stock, valued at $16,081,348.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other Garmin news, Director Philip Straub sold 2,750 shares of Garmin 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 owns 88,622 shares in the company, valued at $16,081,348.12. The trade was 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 through the SEC website. Also, 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 value of $1,781,343.80. Following the completion of the sale, the insider now owns 40,965 shares in the company, valued at $7,257,359.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,892 shares of company stock valued at $2,296,174. 19.54% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. StockNews.com lowered Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Morgan Stanley lowered shares of Garmin from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $155.00 to $138.00 in a report on Monday, October 7th. 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 note on Thursday, September 19th. Finally, 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. Three research 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $162.67.

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.