Metis Global Partners LLC Grows Stock Holdings in Garmin Ltd. (NYSE:GRMN)

Metis Global Partners LLC boosted its holdings in Garmin Ltd. (NYSE:GRMN) by 6.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 9,554 shares of the scientific and technical instruments company’s stock after buying an additional 606 shares during the period. Metis Global Partners LLC’s holdings in Garmin were worth $1,682,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of GRMN. Select Equity Group L.P. grew its position in shares of Garmin by 0.6% during the second quarter. Select Equity Group L.P. now owns 2,006,563 shares of the scientific and technical instruments company’s stock worth $326,909,000 after purchasing an additional 11,666 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Garmin by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,735,623 shares of the scientific and technical instruments company’s stock worth $282,761,000 after purchasing an additional 13,968 shares in the last quarter. Boston Partners boosted its stake in Garmin by 4.3% in the 1st quarter. Boston Partners now owns 1,416,130 shares of the scientific and technical instruments company’s stock worth $210,799,000 after purchasing an additional 58,343 shares during the period. Marshall Wace LLP grew its holdings in Garmin by 34.0% during the 2nd quarter. Marshall Wace LLP now owns 1,098,443 shares of the scientific and technical instruments company’s stock valued at $178,958,000 after buying an additional 278,990 shares in the last quarter. Finally, Captrust Financial Advisors raised its position in shares of Garmin by 20.2% during the first quarter. Captrust Financial Advisors now owns 839,537 shares of the scientific and technical instruments company’s stock valued at $124,982,000 after buying an additional 141,001 shares during the last quarter. 73.41% of the stock is owned by institutional investors.

Garmin Stock Down 1.4 %

GRMN stock opened at $208.43 on Friday. Garmin Ltd. has a 52 week low of $118.51 and a 52 week high of $215.55. The firm has a market capitalization of $40.02 billion, a P/E ratio of 26.45, a price-to-earnings-growth ratio of 3.24 and a beta of 0.97. The company has a fifty day simple moving average of $179.96 and a two-hundred day simple moving average of $172.31.

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, beating the consensus estimate of $1.46 by $0.53. The firm had revenue of $1.59 billion for 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 business’s revenue was up 24.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.41 EPS. As a group, analysts anticipate that Garmin Ltd. will post 6.88 EPS for the current year.

Insider Activity

In other news, insider Cheng-Wei Wang sold 10,055 shares of the business’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 of the company’s stock, valued at approximately $7,257,359.40. The trade was a 19.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 value of $499,015.00. Following the completion of the sale, the director now owns 88,622 shares of the company’s stock, valued at approximately $16,081,348.12. This represents a 3.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,479 shares of company stock valued at $2,419,502 in the last ninety days. Insiders own 19.54% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on GRMN shares. Barclays upped their target price on shares of Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research report on Friday, November 1st. Tigress Financial increased their price objective on shares of Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a report on Thursday, September 19th. Morgan Stanley lowered Garmin from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $155.00 to $138.00 in a research report on Monday, October 7th. Finally, StockNews.com downgraded Garmin from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $162.67.

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.