LS Investment Advisors LLC Purchases 148 Shares of Garmin Ltd. (GRMN)

LS Investment Advisors LLC raised its position in Garmin Ltd. (NASDAQ:GRMN) by 2.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,945 shares of the scientific and technical instruments company’s stock after buying an additional 148 shares during the period. LS Investment Advisors LLC’s holdings in Garmin were worth $355,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of GRMN. Nomura Asset Management Co. Ltd. raised its stake in shares of Garmin by 0.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 15,585 shares of the scientific and technical instruments company’s stock worth $750,000 after buying an additional 100 shares in the last quarter. Honkamp Krueger Financial Services Inc. increased its position in Garmin by 1.5% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 6,838 shares of the scientific and technical instruments company’s stock valued at $349,000 after buying an additional 100 shares during the last quarter. Argentus Capital Management LLC increased its position in Garmin by 2.4% in the third quarter. Argentus Capital Management LLC now owns 7,011 shares of the scientific and technical instruments company’s stock valued at $337,000 after buying an additional 167 shares during the last quarter. State Treasurer State of Michigan increased its position in Garmin by 0.5% in the first quarter. State Treasurer State of Michigan now owns 37,762 shares of the scientific and technical instruments company’s stock valued at $1,930,000 after buying an additional 200 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its position in Garmin by 0.4% in the first quarter. Great West Life Assurance Co. Can now owns 83,609 shares of the scientific and technical instruments company’s stock valued at $4,269,000 after buying an additional 302 shares during the last quarter. 37.39% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Garmin (NASDAQ:GRMN)

Shares of Garmin Ltd. (NASDAQ:GRMN) traded up 1.35% on Friday, hitting $51.69. The stock had a trading volume of 285,948 shares. The stock has a 50 day moving average of $50.81 and a 200 day moving average of $50.47. The firm has a market cap of $9.73 billion, a price-to-earnings ratio of 14.77 and a beta of 0.86. Garmin Ltd. has a 12-month low of $39.29 and a 12-month high of $56.19.

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Garmin (NASDAQ:GRMN) last announced its quarterly earnings data on Wednesday, May 3rd. The scientific and technical instruments company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.07. The business had revenue of $638.50 million for the quarter, compared to analysts’ expectations of $629.11 million. Garmin had a return on equity of 16.15% and a net margin of 17.24%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $0.49 earnings per share. Equities analysts predict that Garmin Ltd. will post $2.69 earnings per share for the current fiscal year.

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Several research firms have commented on GRMN. Zacks Investment Research downgraded Garmin from a “buy” rating to a “hold” rating in a report on Monday, May 8th. Bank of America Corp raised their price objective on Garmin from $47.00 to $50.00 and gave the stock an “underperform” rating in a report on Thursday, May 4th. Goldman Sachs Group Inc raised their price objective on Garmin from $52.00 to $54.00 and gave the stock a “neutral” rating in a report on Thursday, May 4th. JPMorgan Chase & Co. downgraded Garmin from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $55.00 to $50.00 in a report on Thursday, May 4th. Finally, Tigress Financial began coverage on Garmin in a report on Tuesday, May 2nd. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $49.38.

In related news, VP Andrew R. Etkind sold 6,524 shares of the stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $54.57, for a total value of $356,014.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 18.30% of the stock is currently 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.

5 Day Chart for NASDAQ:GRMN

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