Intech Investment Management LLC Buys 3,313 Shares of Garmin Ltd. (NYSE:GRMN)

Intech Investment Management LLC boosted its stake in shares of Garmin Ltd. (NYSE:GRMN) by 18.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,331 shares of the scientific and technical instruments company’s stock after acquiring an additional 3,313 shares during the quarter. Intech Investment Management LLC’s holdings in Garmin were worth $2,225,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Green Alpha Advisors LLC increased its stake in Garmin by 1.1% during the second quarter. Green Alpha Advisors LLC now owns 8,429 shares of the scientific and technical instruments company’s stock worth $879,000 after acquiring an additional 95 shares during the last quarter. Financial Gravity Asset Management Inc. increased its stake in Garmin by 155.2% during the second quarter. Financial Gravity Asset Management Inc. now owns 171 shares of the scientific and technical instruments company’s stock worth $433,000 after acquiring an additional 104 shares during the last quarter. Wetherby Asset Management Inc. increased its stake in Garmin by 3.7% during the first quarter. Wetherby Asset Management Inc. now owns 2,909 shares of the scientific and technical instruments company’s stock worth $294,000 after acquiring an additional 105 shares during the last quarter. BRYN MAWR TRUST Co increased its stake in Garmin by 4.3% during the first quarter. BRYN MAWR TRUST Co now owns 2,623 shares of the scientific and technical instruments company’s stock worth $265,000 after acquiring an additional 107 shares during the last quarter. Finally, CWM LLC increased its stake in Garmin by 3.0% during the second quarter. CWM LLC now owns 3,689 shares of the scientific and technical instruments company’s stock worth $385,000 after acquiring an additional 108 shares during the last quarter. 63.26% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Garmin news, CEO Clifton A. Pemble sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $120.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief executive officer now owns 115,629 shares in the company, valued at $13,875,480. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Garmin news, insider Cheng-Wei Wang sold 4,794 shares of the company’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $105.62, for a total transaction of $506,342.28. Following the completion of the sale, the insider now owns 44,808 shares in the company, valued at $4,732,620.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Clifton A. Pemble sold 5,000 shares of the stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $120.00, for a total value of $600,000.00. Following the sale, the chief executive officer now owns 115,629 shares of the company’s stock, valued at approximately $13,875,480. The disclosure for this sale can be found here. 19.89% of the stock is owned by company insiders.

Garmin Stock Performance

Shares of NYSE GRMN opened at $118.85 on Thursday. The firm has a market capitalization of $22.74 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 3.94 and a beta of 0.90. The stock has a 50 day moving average price of $107.27 and a 200 day moving average price of $105.62. Garmin Ltd. has a 52-week low of $88.40 and a 52-week high of $120.25.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, November 1st. The scientific and technical instruments company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.12. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.21 billion. Garmin had a return on equity of 16.00% and a net margin of 20.60%. Garmin’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.24 earnings per share. Analysts forecast that Garmin Ltd. will post 5.28 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on GRMN shares. Tigress Financial reaffirmed a “strong-buy” rating and set a $165.00 target price on shares of Garmin in a research note on Thursday, August 10th. JPMorgan Chase & Co. upped their target price on Garmin from $118.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, November 2nd. Bank of America upped their target price on Garmin from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Tuesday, August 8th. StockNews.com started coverage on Garmin in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Morgan Stanley cut their target price on Garmin from $103.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 2nd. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Garmin has an average rating of “Hold” and an average price target of $127.80.

Garmin Company Profile

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices in the Americas, the Asia Pacific, Australian Continent, Europe, the Middle East, and Africa. Its Fitness segment offers running and multi-sport watches; cycling products; activity tracking and smartwatch devices; fitness and cycling accessories.