Principal Financial Group Inc. Has $63.17 Million Holdings in Garmin Ltd. (GRMN)
Principal Financial Group Inc. raised its position in Garmin Ltd. (NASDAQ:GRMN) by 1.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,170,507 shares of the scientific and technical instruments company’s stock after buying an additional 11,894 shares during the period. Principal Financial Group Inc. owned approximately 0.62% of Garmin worth $63,172,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. WFG Advisors LP boosted its position in Garmin by 11.5% in the 2nd quarter. WFG Advisors LP now owns 2,175 shares of the scientific and technical instruments company’s stock valued at $111,000 after buying an additional 225 shares during the last quarter. US Bancorp DE boosted its position in Garmin by 8.8% in the 2nd quarter. US Bancorp DE now owns 2,215 shares of the scientific and technical instruments company’s stock valued at $113,000 after buying an additional 180 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in Garmin by 72.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,741 shares of the scientific and technical instruments company’s stock valued at $191,000 after buying an additional 1,568 shares during the last quarter. Cambridge Advisors Inc. purchased a new position in Garmin in the 3rd quarter valued at about $208,000. Finally, Profund Advisors LLC purchased a new position in Garmin in the 2nd quarter valued at about $202,000. 38.01% of the stock is owned by institutional investors.
ILLEGAL ACTIVITY NOTICE: This report was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this report on another website, it was copied illegally and reposted in violation of US & international trademark & copyright legislation. The original version of this report can be accessed at https://www.thecerbatgem.com/2017/11/14/principal-financial-group-inc-has-63-17-million-holdings-in-garmin-ltd-grmn.html.
A number of research firms have weighed in on GRMN. ValuEngine raised shares of Garmin from a “hold” rating to a “buy” rating in a research report on Friday. Zacks Investment Research raised shares of Garmin from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a research report on Thursday, November 2nd. Morgan Stanley upped their price objective on shares of Garmin from $52.00 to $57.00 and gave the company an “equal weight” rating in a research report on Thursday, November 2nd. KeyCorp restated a “hold” rating on shares of Garmin in a research note on Wednesday, November 1st. Finally, BidaskClub lowered shares of Garmin from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. Garmin presently has a consensus rating of “Hold” and an average target price of $56.33.
Shares of Garmin Ltd. (NASDAQ:GRMN) opened at $60.58 on Tuesday. The stock has a market cap of $12,049.05, a PE ratio of 21.12, a PEG ratio of 2.51 and a beta of 0.81. Garmin Ltd. has a 12 month low of $47.03 and a 12 month high of $61.04.
Garmin (NASDAQ:GRMN) last released its quarterly earnings data on Wednesday, November 1st. The scientific and technical instruments company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.09. The firm had revenue of $743.00 million for the quarter, compared to analyst estimates of $722.00 million. Garmin had a net margin of 22.65% and a return on equity of 15.23%. Garmin’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.75 earnings per share. research analysts forecast that Garmin Ltd. will post 2.9 earnings per share for the current year.
In related news, major shareholder Jonathan Burrell sold 253,000 shares of the stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $52.13, for a total transaction of $13,188,890.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Patrick Desbois sold 1,881 shares of the stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $55.00, for a total transaction of $103,455.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,295,735 shares of company stock worth $71,440,902. 18.30% of the stock is owned by company insiders.
Garmin Company 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.
Want to see what other hedge funds are holding GRMN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Garmin Ltd. (NASDAQ:GRMN).
Receive News & Stock Ratings for Garmin Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Garmin Ltd. and related stocks with our FREE daily email newsletter.