Los Angeles Capital Management & Equity Research Inc. lowered its holdings in shares of Garmin Ltd. (NASDAQ:GRMN) by 0.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 143,892 shares of the scientific and technical instruments company’s stock after selling 1,159 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned about 0.08% of Garmin worth $7,343,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GRMN. BlackRock Inc. raised its position in Garmin by 4,403.5% during the first quarter. BlackRock Inc. now owns 10,889,195 shares of the scientific and technical instruments company’s stock worth $556,544,000 after acquiring an additional 10,647,400 shares during the last quarter. Bank of New York Mellon Corp raised its position in Garmin by 117.9% during the second quarter. Bank of New York Mellon Corp now owns 2,228,687 shares of the scientific and technical instruments company’s stock worth $113,730,000 after acquiring an additional 1,205,778 shares during the last quarter. Marshall Wace North America L.P. raised its position in Garmin by 3,623.9% during the second quarter. Marshall Wace North America L.P. now owns 732,199 shares of the scientific and technical instruments company’s stock worth $37,343,000 after acquiring an additional 712,537 shares during the last quarter. Principal Financial Group Inc. raised its position in Garmin by 123.5% during the second quarter. Principal Financial Group Inc. now owns 1,158,613 shares of the scientific and technical instruments company’s stock worth $59,123,000 after acquiring an additional 640,133 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Garmin by 313.2% during the first quarter. Renaissance Technologies LLC now owns 820,142 shares of the scientific and technical instruments company’s stock worth $41,917,000 after acquiring an additional 621,665 shares during the last quarter. Institutional investors own 39.79% of the company’s stock.

A number of equities research analysts have recently commented on the stock. BidaskClub downgraded shares of Garmin from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Longbow Research reiterated a “buy” rating on shares of Garmin in a report on Thursday, August 3rd. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Garmin in a report on Tuesday, August 8th. Morgan Stanley set a $50.00 price target on shares of Garmin and gave the stock a “hold” rating in a report on Monday, July 31st. Finally, Tigress Financial reiterated a “buy” rating on shares of Garmin in a report on Monday, July 10th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $53.50.

In other Garmin news, insider Sean Biddlecombe sold 1,697 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $51.83, for a total transaction of $87,955.51. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Jonathan Burrell sold 231,500 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $51.20, for a total value of $11,852,800.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 467,386 shares of company stock worth $23,970,104. Corporate insiders own 18.30% of the company’s stock.

Shares of Garmin Ltd. (GRMN) opened at 52.26 on Monday. Garmin Ltd. has a 12-month low of $46.05 and a 12-month high of $55.74. The company has a 50-day moving average of $51.69 and a 200-day moving average of $51.44. The stock has a market capitalization of $9.81 billion, a P/E ratio of 14.68 and a beta of 0.85.

Garmin (NASDAQ:GRMN) last released its quarterly earnings data on Wednesday, August 2nd. The scientific and technical instruments company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.07. Garmin had a return on equity of 15.55% and a net margin of 22.07%. The firm had revenue of $816.89 million for the quarter, compared to the consensus estimate of $806.67 million. During the same quarter in the prior year, the company posted $0.87 earnings per share. The firm’s revenue was up .7% on a year-over-year basis. Equities analysts expect that Garmin Ltd. will post $2.80 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.51 per share. The ex-dividend date is Thursday, September 14th. This represents a $2.04 annualized dividend and a yield of 3.90%. Garmin’s dividend payout ratio (DPR) is presently 57.46%.

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Garmin Profile

Garmin Ltd. (Garmin) and subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. The Company operates through five segments. It offers a range of auto navigation products, as well as a range of products and applications designed for the mobile GPS market. It offers products to consumers around the world, including Outdoor Handhelds, Wearable Devices, Golf Devices, and Dog Tracking and Training/Pet Obedience Devices.

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Institutional Ownership by Quarter for Garmin (NASDAQ:GRMN)

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