W. E. Donoghue & Co. LLC purchased a new position in Garmin Ltd. (NASDAQ:GRMN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 309,623 shares of the scientific and technical instruments company’s stock, valued at approximately $15,800,000. W. E. Donoghue & Co. LLC owned approximately 0.16% of Garmin as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. boosted its holdings in Garmin by 3.7% in the second quarter. BlackRock Inc. now owns 11,293,625 shares of the scientific and technical instruments company’s stock worth $576,315,000 after acquiring an additional 404,430 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Garmin by 0.6% in the second quarter. Vanguard Group Inc. now owns 10,473,447 shares of the scientific and technical instruments company’s stock worth $534,459,000 after acquiring an additional 59,138 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Garmin by 117.9% in 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 in the last quarter. Disciplined Growth Investors Inc. MN boosted its holdings in Garmin by 0.5% in the second quarter. Disciplined Growth Investors Inc. MN now owns 1,634,576 shares of the scientific and technical instruments company’s stock worth $83,412,000 after acquiring an additional 8,210 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Garmin by 8,318.2% in the second quarter. Janus Henderson Group PLC now owns 1,257,516 shares of the scientific and technical instruments company’s stock worth $64,171,000 after acquiring an additional 1,242,578 shares in the last quarter. 39.59% of the stock is owned by institutional investors and hedge funds.

GRMN has been the subject of several recent analyst reports. Morgan Stanley set a $50.00 price target on Garmin and gave the stock a “hold” rating in a report on Monday, July 31st. Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of Garmin in a report on Tuesday, August 8th. Tigress Financial reaffirmed a “buy” rating on shares of Garmin in a report on Monday, July 10th. BidaskClub raised Garmin from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 22nd. Finally, Longbow Research reaffirmed a “buy” rating on shares of Garmin in a report on Thursday, August 3rd. Three research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $52.80.

Shares of Garmin Ltd. (GRMN) opened at 55.80 on Friday. The firm has a market cap of $10.47 billion, a P/E ratio of 15.68 and a beta of 0.86. Garmin Ltd. has a 12-month low of $46.80 and a 12-month high of $55.87. The company’s 50 day moving average price is $53.49 and its 200-day moving average price is $51.87.

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

In other Garmin news, insider Clifton A. Pemble sold 4,066 shares of the stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $55.00, for a total transaction of $223,630.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Patrick Desbois sold 1,881 shares of the stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $55.00, for a total value of $103,455.00. The disclosure for this sale can be found here. Insiders have sold a total of 984,130 shares of company stock worth $50,943,988 in the last 90 days. 18.30% of the stock is currently owned by company insiders.

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About Garmin

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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