Garmin Ltd. (NYSE:GRMN) Shares Sold by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. lowered its position in Garmin Ltd. (NYSE:GRMN) by 5.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,500 shares of the scientific and technical instruments company’s stock after selling 1,122 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Garmin were worth $3,177,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Artisan Partners Limited Partnership lifted its holdings in Garmin by 0.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 7,310,112 shares of the scientific and technical instruments company’s stock worth $939,642,000 after purchasing an additional 63,278 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Garmin by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,735,623 shares of the scientific and technical instruments company’s stock worth $282,761,000 after acquiring an additional 13,968 shares during the period. Boston Partners boosted its holdings in shares of Garmin by 4.3% in 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 acquiring an additional 58,343 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Garmin by 4.4% during the fourth quarter. Wells Fargo & Company MN now owns 1,291,589 shares of the scientific and technical instruments company’s stock valued at $166,021,000 after acquiring an additional 54,001 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in Garmin by 28.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 862,527 shares of the scientific and technical instruments company’s stock worth $110,869,000 after purchasing an additional 190,739 shares in the last quarter. Institutional investors own 73.41% of the company’s stock.

Insider Activity

In related news, insider Cheng-Wei Wang sold 10,055 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total value of $1,781,343.80. Following the transaction, the insider now owns 40,965 shares in the company, valued at $7,257,359.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Garmin news, insider Cheng-Wei Wang sold 10,055 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 40,965 shares of the company’s stock, valued at $7,257,359.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Philip Straub sold 2,750 shares of the stock in a transaction 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 transaction, the director now owns 88,622 shares in the company, valued at approximately $16,081,348.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,892 shares of company stock worth $2,296,174. 19.54% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GRMN shares. StockNews.com lowered Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Bank of America lowered Garmin from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $165.00 to $150.00 in a report on Wednesday, May 22nd. Finally, Barclays downgraded shares of Garmin from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $181.00 to $133.00 in a report on Friday, September 13th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Garmin has an average rating of “Hold” and an average price target of $151.33.

Garmin Trading Down 1.1 %

GRMN stock opened at $169.73 on Thursday. The firm has a 50-day moving average of $174.34 and a two-hundred day moving average of $162.03. The firm has a market capitalization of $32.60 billion, a PE ratio of 23.94, a P/E/G ratio of 3.16 and a beta of 1.00. Garmin Ltd. has a one year low of $99.61 and a one year high of $184.42.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.18. Garmin had a net margin of 24.36% and a return on equity of 17.09%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the business posted $1.45 EPS. The company’s revenue was up 14.3% on a year-over-year basis. On average, equities research analysts anticipate that Garmin Ltd. will post 6.05 earnings per share for the current year.

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.