Ensign Peak Advisors Inc Buys 5,775 Shares of Garmin Ltd. (NYSE:GRMN)

Ensign Peak Advisors Inc grew its position in Garmin Ltd. (NYSE:GRMN) by 7.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,806 shares of the scientific and technical instruments company’s stock after purchasing an additional 5,775 shares during the period. Ensign Peak Advisors Inc’s holdings in Garmin were worth $13,491,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. GSA Capital Partners LLP purchased a new stake in Garmin in the 1st quarter worth about $1,389,000. LBP AM SA lifted its stake in shares of Garmin by 81.4% during the 1st quarter. LBP AM SA now owns 7,284 shares of the scientific and technical instruments company’s stock valued at $1,084,000 after buying an additional 3,268 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in Garmin by 3.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 173,715 shares of the scientific and technical instruments company’s stock worth $25,861,000 after buying an additional 5,945 shares during the period. Cetera Investment Advisers grew its stake in Garmin by 51.7% in the 1st quarter. Cetera Investment Advisers now owns 28,395 shares of the scientific and technical instruments company’s stock valued at $4,227,000 after buying an additional 9,681 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Garmin by 4.4% during the 1st quarter. Russell Investments Group Ltd. now owns 178,073 shares of the scientific and technical instruments company’s stock valued at $26,500,000 after acquiring an additional 7,553 shares during the period. 73.41% of the stock is owned by institutional investors.

Insider Activity at Garmin

In related news, Director Philip Straub sold 2,750 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $181.46, for a total value of $499,015.00. Following the completion of the transaction, the director now directly owns 88,622 shares in the company, valued at approximately $16,081,348.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related 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 transaction of $1,781,343.80. Following the completion of the sale, the insider now directly owns 40,965 shares in the company, valued at $7,257,359.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 sale, the director now directly owns 88,622 shares of the company’s stock, valued at approximately $16,081,348.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,892 shares of company stock valued at $2,296,174. 19.54% of the stock is owned by insiders.

Garmin Trading Up 2.8 %

Shares of GRMN opened at $175.81 on Tuesday. Garmin Ltd. has a 1-year low of $99.61 and a 1-year high of $184.42. The firm has a market capitalization of $33.77 billion, a price-to-earnings ratio of 24.80, a PEG ratio of 3.16 and a beta of 1.00. The firm’s 50-day moving average price is $174.60 and its 200-day moving average price is $162.87.

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, beating the consensus estimate of $1.40 by $0.18. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.42 billion. Garmin had a return on equity of 17.09% and a net margin of 24.36%. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.45 earnings per share. On average, research analysts forecast that Garmin Ltd. will post 6.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Tigress Financial increased their price objective on Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 19th. Barclays lowered shares of 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 report on Friday, September 13th. Finally, StockNews.com lowered shares of Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $152.17.

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.