Landscape Capital Management L.L.C. Has $3.83 Million Stock Holdings in Garmin Ltd. (NYSE:GRMN)

Landscape Capital Management L.L.C. trimmed its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 16.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,776 shares of the scientific and technical instruments company’s stock after selling 4,168 shares during the period. Landscape Capital Management L.L.C.’s holdings in Garmin were worth $3,833,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Select Equity Group L.P. lifted its position in shares of Garmin by 0.6% in 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 grew its holdings in shares of Garmin by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,735,623 shares of the scientific and technical instruments company’s stock valued at $282,761,000 after acquiring an additional 13,968 shares in the last quarter. Boston Partners raised its holdings in shares of Garmin by 4.3% during the first quarter. Boston Partners now owns 1,416,130 shares of the scientific and technical instruments company’s stock worth $210,799,000 after acquiring an additional 58,343 shares in the last quarter. Marshall Wace LLP boosted its position in Garmin by 34.0% during the second 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 purchasing an additional 278,990 shares during the last quarter. Finally, Captrust Financial Advisors grew its stake in Garmin by 20.2% in 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 purchasing an additional 141,001 shares in the last quarter. 73.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Garmin

In other news, Director Philip Straub sold 2,750 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 88,622 shares of the company’s stock, valued at approximately $16,081,348.12. This represents a 3.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 completion of the sale, the director now directly owns 6,147 shares in the company, valued at approximately $1,291,484.70. This represents a 8.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,424 shares of company stock valued at $638,159 in the last 90 days. 19.54% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

GRMN has been the subject of several research reports. Morgan Stanley lowered Garmin from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $155.00 to $138.00 in a report on Monday, October 7th. StockNews.com lowered shares of Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Barclays boosted their price target on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research report on Friday, November 1st. Finally, Tigress Financial increased their price objective on Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a report on Thursday, September 19th. Three 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 stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $162.67.

Garmin Stock Down 0.9 %

GRMN opened at $205.57 on Thursday. The stock’s 50 day moving average price is $181.03 and its two-hundred day moving average price is $173.17. The firm has a market capitalization of $39.47 billion, a P/E ratio of 26.09, a price-to-earnings-growth ratio of 3.16 and a beta of 0.97. Garmin Ltd. has a 12-month low of $119.15 and a 12-month high of $215.55.

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 for the quarter, compared to analyst estimates of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. Garmin’s revenue was up 24.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.41 earnings per share. As a group, analysts anticipate that Garmin Ltd. will post 6.88 earnings per share 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.