Vanguard Personalized Indexing Management LLC Raises Holdings in Garmin Ltd. (NYSE:GRMN)

Vanguard Personalized Indexing Management LLC raised its holdings in Garmin Ltd. (NYSE:GRMN) by 24.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,334 shares of the scientific and technical instruments company’s stock after purchasing an additional 3,759 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Garmin were worth $3,120,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Clearstead Trust LLC purchased a new stake in Garmin in the 1st quarter valued at about $30,000. Frazier Financial Advisors LLC acquired a new stake in shares of Garmin during the fourth quarter valued at about $33,000. Family Firm Inc. purchased a new stake in shares of Garmin in the 2nd quarter valued at approximately $35,000. Headlands Technologies LLC acquired a new position in shares of Garmin in the 2nd quarter worth approximately $46,000. Finally, West Oak Capital LLC purchased a new position in shares of Garmin during the 2nd quarter worth approximately $53,000. Institutional investors and hedge funds own 73.41% of the company’s stock.

Insider Activity

In related news, Director Philip Straub sold 2,750 shares of the business’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 completion of the transaction, the director now owns 88,622 shares in the company, valued at $16,081,348.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Garmin news, Director Philip Straub sold 2,750 shares of Garmin stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $181.46, for a total transaction of $499,015.00. Following the completion of the sale, the director now directly owns 88,622 shares of the company’s stock, valued at approximately $16,081,348.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cheng-Wei Wang sold 10,055 shares of the stock in a transaction dated 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 owns 40,965 shares in the company, valued at approximately $7,257,359.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,892 shares of company stock worth $2,296,174. 19.54% of the stock is currently owned by corporate insiders.

Garmin Trading Up 1.1 %

NYSE:GRMN opened at $171.76 on Friday. Garmin Ltd. has a 12-month low of $99.61 and a 12-month high of $184.42. The firm has a market cap of $32.99 billion, a PE ratio of 24.23, a price-to-earnings-growth ratio of 3.16 and a beta of 1.00. The stock has a fifty day moving average price of $174.44 and a 200 day moving average price of $162.10.

Garmin (NYSE:GRMN) last announced 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. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.42 billion. Garmin had a return on equity of 17.09% and a net margin of 24.36%. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.45 earnings per share. Equities analysts forecast that Garmin Ltd. will post 6.05 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GRMN. StockNews.com lowered Garmin from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Tigress Financial boosted their price objective on Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a report on Thursday. Finally, Barclays cut Garmin from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $181.00 to $133.00 in a report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $152.17.

About Garmin

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.