Czech National Bank Has $6.87 Million Stock Holdings in Garmin Ltd. (NYSE:GRMN)

Czech National Bank boosted its stake in Garmin Ltd. (NYSE:GRMN) by 6.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 33,308 shares of the scientific and technical instruments company’s stock after buying an additional 1,984 shares during the period. Czech National Bank’s holdings in Garmin were worth $6,870,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Garmin in the second quarter valued at approximately $31,000. Larson Financial Group LLC boosted its stake in Garmin by 578.6% in the 3rd quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock valued at $33,000 after purchasing an additional 162 shares during the period. Itau Unibanco Holding S.A. acquired a new position in Garmin in the 3rd quarter valued at $39,000. Benjamin Edwards Inc. increased its position in Garmin by 73.3% during the 2nd quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock worth $38,000 after buying an additional 99 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in shares of Garmin during the second quarter worth $46,000. 81.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Morgan Stanley downgraded shares of Garmin from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $155.00 to $138.00 in a research note on Monday, October 7th. Barclays raised their target price on shares of Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Finally, Tigress Financial boosted their price target on Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a research note on Monday, December 16th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $171.00.

Garmin Price Performance

Shares of GRMN opened at $211.73 on Wednesday. The firm has a 50 day simple moving average of $211.24 and a two-hundred day simple moving average of $186.36. Garmin Ltd. has a one year low of $119.15 and a one year high of $222.97. The company has a market cap of $40.66 billion, a P/E ratio of 26.87, a P/E/G ratio of 1.42 and a beta of 0.98.

Garmin (NYSE:GRMN) last issued its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 EPS for the quarter, topping the consensus estimate of $1.46 by $0.53. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.44 billion. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The business’s quarterly revenue was up 24.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.41 earnings per share. On average, analysts expect that Garmin Ltd. will post 7.01 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Sean Biddlecombe sold 587 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $210.10, for a total value of $123,328.70. Following the transaction, the director now owns 6,147 shares in the company, valued at $1,291,484.70. The trade was a 8.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Douglas G. Boessen sold 1,761 shares of Garmin stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $207.99, for a total value of $366,270.39. Following the completion of the transaction, the chief financial officer now directly owns 27,612 shares of the company’s stock, valued at approximately $5,743,019.88. This trade represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 19.54% of the company’s stock.

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.