Charles Schwab Investment Management Inc. Sells 699 Shares of Garmin Ltd. (NYSE:GRMN)

Charles Schwab Investment Management Inc. decreased its stake in Garmin Ltd. (NYSE:GRMN) by 0.1% in the third quarter, Holdings Channel.com reports. The firm owned 875,638 shares of the scientific and technical instruments company’s stock after selling 699 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Garmin were worth $154,139,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Garmin in the second quarter worth approximately $31,000. Family Firm Inc. purchased a new stake in shares of Garmin in the 2nd quarter worth $35,000. Benjamin Edwards Inc. increased its stake in shares of Garmin by 73.3% during the second quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock valued at $38,000 after buying an additional 99 shares during the period. Headlands Technologies LLC bought a new stake in shares of Garmin in the second quarter valued at about $46,000. Finally, West Oak Capital LLC purchased a new stake in Garmin in the second quarter worth about $53,000. Institutional investors own 73.41% of the company’s stock.

Insider Activity at Garmin

In other Garmin news, Director Sean Biddlecombe sold 587 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $210.10, for a total value of $123,328.70. Following the completion of the transaction, the director now directly owns 6,147 shares of the company’s stock, valued at approximately $1,291,484.70. The trade was a 8.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Philip Straub sold 2,750 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 88,622 shares in the company, valued at $16,081,348.12. The trade was a 3.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,424 shares of company stock worth $638,159 over the last three months. Company insiders own 19.54% of the company’s stock.

Garmin Stock Up 0.6 %

Shares of NYSE:GRMN opened at $210.33 on Monday. Garmin Ltd. has a 52-week low of $119.15 and a 52-week high of $215.55. The stock has a market cap of $40.39 billion, a price-to-earnings ratio of 26.69, a PEG ratio of 3.28 and a beta of 0.97. The business has a 50-day moving average price of $182.77 and a 200-day moving average price of $174.00.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.53. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. Garmin’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same period last year, the firm posted $1.41 EPS. As a group, equities analysts anticipate that Garmin Ltd. will post 6.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Tigress Financial increased their target price on Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 19th. StockNews.com cut Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Morgan Stanley lowered Garmin from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $155.00 to $138.00 in a research note on Monday, October 7th. Finally, Barclays increased their price objective on shares of Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research report on Friday, November 1st. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Garmin presently has a consensus rating of “Hold” and a consensus target price of $162.67.

Garmin Company 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.