Mediolanum International Funds Ltd Sells 632 Shares of Garmin Ltd. (NYSE:GRMN)

Mediolanum International Funds Ltd decreased its stake in shares of Garmin Ltd. (NYSE:GRMN) by 5.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,840 shares of the scientific and technical instruments company’s stock after selling 632 shares during the period. Mediolanum International Funds Ltd’s holdings in Garmin were worth $2,057,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GRMN. Select Equity Group L.P. grew its stake in shares of Garmin by 0.6% during the 2nd quarter. Select Equity Group L.P. now owns 2,006,563 shares of the scientific and technical instruments company’s stock valued at $326,909,000 after purchasing an additional 11,666 shares during the period. Dimensional Fund Advisors LP grew its position in Garmin by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,735,623 shares of the scientific and technical instruments company’s stock valued at $282,761,000 after buying an additional 13,968 shares during the period. Boston Partners increased its holdings in Garmin by 4.3% during the first quarter. Boston Partners now owns 1,416,130 shares of the scientific and technical instruments company’s stock valued at $210,799,000 after buying an additional 58,343 shares during the last quarter. Marshall Wace LLP raised its position in Garmin by 34.0% in the second quarter. Marshall Wace LLP now owns 1,098,443 shares of the scientific and technical instruments company’s stock worth $178,958,000 after acquiring an additional 278,990 shares during the period. Finally, Captrust Financial Advisors boosted its stake in shares of Garmin by 20.2% during the 1st quarter. Captrust Financial Advisors now owns 839,537 shares of the scientific and technical instruments company’s stock worth $124,982,000 after acquiring an additional 141,001 shares during the last quarter. Hedge funds and other institutional investors own 73.41% of the company’s stock.

Insider Buying and Selling at Garmin

In other news, insider Cheng-Wei Wang sold 10,055 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the completion of the transaction, the insider now owns 40,965 shares in the company, valued at $7,257,359.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Cheng-Wei Wang sold 10,055 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total value of $1,781,343.80. Following the completion of the transaction, the insider now directly owns 40,965 shares of the company’s stock, valued at approximately $7,257,359.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Philip Straub sold 2,750 shares of the company’s stock in a transaction on Friday, August 30th. The shares were 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 approximately $16,081,348.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,892 shares of company stock worth $2,296,174. Insiders own 19.54% of the company’s stock.

Garmin Trading Up 0.2 %

NYSE:GRMN opened at $162.30 on Friday. The stock has a 50-day moving average price of $173.31 and a 200 day moving average price of $166.17. The stock has a market capitalization of $31.20 billion, a P/E ratio of 22.70, a P/E/G ratio of 2.81 and a beta of 0.99. Garmin Ltd. has a 12-month low of $99.61 and a 12-month high of $184.42.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.18. Garmin had a return on equity of 17.09% and a net margin of 24.36%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the company posted $1.45 EPS. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, research analysts predict that Garmin Ltd. will post 6.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on GRMN shares. StockNews.com cut Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Tigress Financial raised their price objective on Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 19th. Barclays downgraded Garmin from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $181.00 to $133.00 in a research note on Friday, September 13th. Finally, Morgan Stanley downgraded shares of Garmin from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $155.00 to $138.00 in a report on Monday, October 7th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $158.50.

Garmin 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.