QRG Capital Management Inc. Has $11.67 Million Stock Position in Garmin Ltd. (NYSE:GRMN)

QRG Capital Management Inc. boosted its position in Garmin Ltd. (NYSE:GRMN) by 5.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 66,293 shares of the scientific and technical instruments company’s stock after acquiring an additional 3,713 shares during the quarter. QRG Capital Management Inc.’s holdings in Garmin were worth $11,670,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of GRMN. Sumitomo Life Insurance Co. grew its stake in shares of Garmin by 0.9% in the third quarter. Sumitomo Life Insurance Co. now owns 6,686 shares of the scientific and technical instruments company’s stock worth $1,177,000 after acquiring an additional 61 shares during the last quarter. Elo Mutual Pension Insurance Co increased its holdings in shares of Garmin by 0.5% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 14,056 shares of the scientific and technical instruments company’s stock worth $2,290,000 after purchasing an additional 70 shares during the period. Dorsey & Whitney Trust CO LLC raised its position in shares of Garmin by 3.3% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 2,309 shares of the scientific and technical instruments company’s stock valued at $344,000 after buying an additional 73 shares during the last quarter. UMB Bank n.a. grew its position in Garmin by 2.6% during the second quarter. UMB Bank n.a. now owns 2,879 shares of the scientific and technical instruments company’s stock worth $469,000 after buying an additional 74 shares in the last quarter. Finally, Brighton Jones LLC grew its position in Garmin by 5.8% during the second quarter. Brighton Jones LLC now owns 1,522 shares of the scientific and technical instruments company’s stock worth $248,000 after buying an additional 83 shares in the last quarter. Institutional investors own 73.41% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on GRMN shares. StockNews.com downgraded Garmin from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Tigress Financial raised their target price on Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 19th. Barclays boosted their price target on shares of Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a report on Friday. Finally, Morgan Stanley downgraded shares of Garmin from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $155.00 to $138.00 in a report on Monday, October 7th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $162.67.

Insider Activity

In related news, Director Philip Straub sold 2,750 shares of the firm’s 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 sale, the director now directly owns 88,622 shares of the company’s stock, valued at $16,081,348.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Garmin news, Director Philip Straub sold 2,750 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $16,081,348.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Cheng-Wei Wang sold 10,055 shares of the company’s 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 transaction, the insider now owns 40,965 shares in the company, valued at $7,257,359.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,892 shares of company stock worth $2,296,174. Insiders own 19.54% of the company’s stock.

Garmin Price Performance

Shares of NYSE:GRMN opened at $200.24 on Tuesday. The stock has a market capitalization of $38.45 billion, a price-to-earnings ratio of 25.41, a price-to-earnings-growth ratio of 3.03 and a beta of 0.97. The business’s fifty day moving average price is $174.63 and its two-hundred day moving average price is $168.41. Garmin Ltd. has a fifty-two week low of $114.49 and a fifty-two week high of $207.22.

Garmin (NYSE:GRMN) last announced its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.53. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The firm’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same quarter last year, the company posted $1.41 EPS. Research analysts expect that Garmin Ltd. will post 6.85 EPS for the current fiscal 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.