Gulf International Bank UK Ltd Has $2.13 Million Holdings in Garmin Ltd. (NYSE:GRMN)

Gulf International Bank UK Ltd trimmed its position in shares of Garmin Ltd. (NYSE:GRMN) by 5.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,123 shares of the scientific and technical instruments company’s stock after selling 640 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Garmin were worth $2,134,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. 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 buying an additional 411,084 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Garmin in the 2nd quarter worth about $45,999,000. Marshall Wace LLP lifted its position in Garmin by 34.0% in the 2nd 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 acquiring an additional 278,990 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Garmin by 123.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 486,281 shares of the scientific and technical instruments company’s stock valued at $85,600,000 after purchasing an additional 268,996 shares during the last quarter. Finally, M&G Plc bought a new stake in Garmin during the 1st quarter worth approximately $38,727,000. 73.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GRMN has been the topic of a number of recent research reports. Morgan Stanley lowered Garmin from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $155.00 to $138.00 in a report on Monday, October 7th. StockNews.com downgraded shares of Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Barclays increased their target price on shares of Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a report on Friday, November 1st. Finally, Tigress Financial boosted their price target on shares of Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 19th. Three investment 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $162.67.

Garmin Stock Performance

Shares of NYSE:GRMN opened at $209.67 on Thursday. The company has a market capitalization of $40.26 billion, a P/E ratio of 26.61, a price-to-earnings-growth ratio of 3.22 and a beta of 0.97. The company’s 50-day moving average is $175.69 and its 200 day moving average is $169.15. Garmin Ltd. has a fifty-two week low of $114.49 and a fifty-two week high of $210.33.

Garmin (NYSE:GRMN) last released its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.53. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the previous year, the company earned $1.41 earnings per share. The company’s quarterly revenue was up 24.1% on a year-over-year basis. As a group, research analysts predict that Garmin Ltd. will post 6.52 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 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 transaction, the director now 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 Securities & Exchange Commission, which is available at the SEC website. In related news, insider Cheng-Wei Wang sold 10,055 shares of Garmin stock in a transaction that occurred 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 transaction, the insider now directly owns 40,965 shares in the company, valued at approximately $7,257,359.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a 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 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 approximately $16,081,348.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,892 shares of company stock valued at $2,296,174. Company insiders own 19.54% of the company’s stock.

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.