Czech National Bank Acquires 2,043 Shares of Garmin Ltd. (NYSE:GRMN)

Czech National Bank raised its position in shares of Garmin Ltd. (NYSE:GRMN) by 7.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,324 shares of the scientific and technical instruments company’s stock after acquiring an additional 2,043 shares during the quarter. Czech National Bank’s holdings in Garmin were worth $5,514,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of GRMN. Clearstead Trust LLC bought a new stake in shares of Garmin during the 1st quarter valued at about $30,000. University of Texas Texas AM Investment Management Co. bought a new position in Garmin in the second quarter worth approximately $31,000. Family Firm Inc. bought a new position in Garmin in the second quarter worth approximately $35,000. Benjamin Edwards Inc. boosted its holdings in Garmin by 73.3% in the second quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock worth $38,000 after acquiring an additional 99 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in Garmin in the second quarter worth approximately $46,000. 73.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Garmin

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 transaction 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 approximately $7,257,359.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Garmin news, 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 completion of the transaction, the director now directly owns 88,622 shares of the company’s stock, valued at approximately $16,081,348.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cheng-Wei Wang sold 10,055 shares of the 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 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 disclosure for this sale can be found here. Over the last three months, insiders sold 12,892 shares of company stock valued at $2,296,174. 19.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. StockNews.com lowered Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Tigress Financial increased their price target on Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 19th. Finally, Barclays downgraded Garmin from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $181.00 to $133.00 in a research note on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $152.17.

Garmin Stock Up 0.5 %

Shares of Garmin stock opened at $170.03 on Friday. The company has a market cap of $32.66 billion, a PE ratio of 23.98, a price-to-earnings-growth ratio of 3.04 and a beta of 0.99. Garmin Ltd. has a 52 week low of $99.61 and a 52 week high of $184.42. The business has a 50 day moving average price of $174.61 and a 200-day moving average price of $164.44.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.18. The company 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%. Garmin’s revenue was up 14.3% on a year-over-year basis. During the same period last year, the business posted $1.45 earnings per share. As a group, research analysts anticipate that Garmin Ltd. will post 6.05 EPS for the current year.

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.