Garmin Ltd. (NYSE:GRMN) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC reduced its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 1.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 33,531 shares of the scientific and technical instruments company’s stock after selling 639 shares during the quarter. Natixis Advisors LLC’s holdings in Garmin were worth $5,902,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Sumitomo Life Insurance Co. increased its stake in Garmin by 0.9% in the third quarter. Sumitomo Life Insurance Co. now owns 6,686 shares of the scientific and technical instruments company’s stock valued at $1,177,000 after purchasing an additional 61 shares during the last quarter. Elo Mutual Pension Insurance Co boosted its holdings in shares of Garmin by 0.5% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 14,056 shares of the scientific and technical instruments company’s stock valued at $2,290,000 after buying an additional 70 shares in the last quarter. UMB Bank n.a. raised its stake in Garmin by 2.6% during the 2nd quarter. UMB Bank n.a. now owns 2,879 shares of the scientific and technical instruments company’s stock worth $469,000 after acquiring an additional 74 shares in the last quarter. Buckingham Capital Management Inc. lifted its position in Garmin by 0.7% in the third quarter. Buckingham Capital Management Inc. now owns 11,715 shares of the scientific and technical instruments company’s stock valued at $2,062,000 after acquiring an additional 80 shares during the last quarter. Finally, Brighton Jones LLC grew its holdings in shares of Garmin by 5.8% during the second quarter. Brighton Jones LLC now owns 1,522 shares of the scientific and technical instruments company’s stock worth $248,000 after purchasing an additional 83 shares during the last quarter. Hedge funds and other institutional investors own 73.41% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Tigress Financial boosted their target price on Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a report on Thursday, September 19th. Barclays boosted their price objective on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research note on Friday, November 1st. StockNews.com lowered shares of Garmin from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Finally, Morgan Stanley downgraded shares of Garmin from an “equal weight” rating to an “underweight” rating and reduced their price target for the company 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $162.67.

Garmin Price Performance

NYSE:GRMN opened at $210.22 on Friday. The firm has a market cap of $40.37 billion, a price-to-earnings ratio of 26.55, a price-to-earnings-growth ratio of 3.16 and a beta of 0.97. Garmin Ltd. has a 1-year low of $119.15 and a 1-year high of $215.55. The firm’s fifty day moving average price is $182.02 and its 200 day moving average price is $173.65.

Garmin (NYSE:GRMN) last issued its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.53. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The business’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.41 earnings per share. As a group, analysts expect that Garmin Ltd. will post 6.88 earnings per share for the current fiscal year.

Insider Transactions 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 value of $123,328.70. Following the transaction, the director now directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Philip Straub sold 2,750 shares of Garmin stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $181.46, for a total transaction of $499,015.00. Following the sale, the director now owns 88,622 shares of the company’s stock, valued at approximately $16,081,348.12. This trade represents a 3.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 3,424 shares of company stock valued at $638,159. Corporate insiders own 19.54% of the company’s stock.

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.