Machina Capital S.A.S. Purchases 4,172 Shares of Garmin Ltd. $GRMN

Machina Capital S.A.S. acquired a new position in Garmin Ltd. (NYSE:GRMN) during the 3rd quarter, HoldingsChannel reports. The fund acquired 4,172 shares of the scientific and technical instruments company’s stock, valued at approximately $1,197,000.

Other large investors have also bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in shares of Garmin by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,631,843 shares of the scientific and technical instruments company’s stock valued at $378,540,000 after buying an additional 40,474 shares during the last quarter. Bank of America Corp DE increased its holdings in Garmin by 73.8% in the first quarter. Bank of America Corp DE now owns 1,295,199 shares of the scientific and technical instruments company’s stock worth $300,499,000 after purchasing an additional 549,954 shares in the last quarter. Amundi lifted its position in shares of Garmin by 82.5% during the 1st quarter. Amundi now owns 1,017,314 shares of the scientific and technical instruments company’s stock valued at $236,027,000 after acquiring an additional 459,980 shares during the period. Swiss National Bank boosted its position in shares of Garmin by 7.0% during the 1st quarter. Swiss National Bank now owns 479,800 shares of the scientific and technical instruments company’s stock worth $111,318,000 after purchasing an additional 31,400 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in Garmin by 9.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 474,058 shares of the scientific and technical instruments company’s stock worth $135,979,000 after acquiring an additional 39,077 shares in the last quarter. 81.60% of the stock is owned by institutional investors.

Insider Buying and Selling at Garmin

In related news, insider Cheng-Wei Wang sold 9,941 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $299.36, for a total value of $2,975,937.76. Following the transaction, the insider directly owned 29,506 shares of the company’s stock, valued at approximately $8,832,916.16. The trade was a 25.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 14.80% of the company’s stock.

Garmin Trading Down 2.5%

GRMN stock opened at $286.56 on Friday. The stock’s fifty day simple moving average is $282.52 and its two-hundred day simple moving average is $257.09. Garmin Ltd. has a 1-year low of $186.67 and a 1-year high of $314.28. The stock has a market cap of $55.22 billion, a P/E ratio of 28.15, a P/E/G ratio of 2.91 and a beta of 0.90.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, October 28th. The scientific and technical instruments company reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.38. Garmin had a return on equity of 21.94% and a net margin of 25.58%. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter in the prior year, the company earned $1.99 EPS. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. As a group, analysts forecast that Garmin Ltd. will post 10.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GRMN has been the topic of several analyst reports. Barclays cut their target price on Garmin from $297.00 to $277.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 29th. KeyCorp reaffirmed a “sector weight” rating on shares of Garmin in a report on Thursday, October 29th. Arete Research began coverage on shares of Garmin in a research note on Wednesday, October 14th. They issued a “buy” rating and a $335.00 target price for the company. Morgan Stanley increased their target price on shares of Garmin from $289.00 to $295.00 and gave the company an “equal weight” rating in a report on Thursday, October 29th. Finally, Tigress Financial reissued a “strong-buy” rating on shares of Garmin in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $315.29.

About Garmin

Garmin Ltd. develops, manufactures and markets navigation, communication and information devices and applications. Its products include GPS-enabled watches and fitness trackers, handheld outdoor navigation devices, marine electronics, aviation systems and automotive navigation technology. Founded in 1989 by Gary Burrell and Min Kao, Garmin serves consumers and businesses around the world. Its products are used in activities ranging from fitness and outdoor recreation to boating, aviation and transportation.