Janus Henderson Group PLC Raises Stock Position in Garmin Ltd. (NYSE:GRMN)

Janus Henderson Group PLC lifted its stake in shares of Garmin Ltd. (NYSE:GRMN) by 5.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,564 shares of the scientific and technical instruments company’s stock after buying an additional 1,060 shares during the quarter. Janus Henderson Group PLC’s holdings in Garmin were worth $3,444,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GRMN. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Garmin in the 2nd quarter valued at $31,000. Larson Financial Group LLC increased 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 buying an additional 162 shares during the period. Family Firm Inc. acquired a new position in Garmin in the 2nd quarter valued at $35,000. Benjamin Edwards Inc. increased its stake in Garmin by 73.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock valued at $38,000 after buying an additional 99 shares during the period. Finally, Headlands Technologies LLC acquired a new position in Garmin in the 2nd quarter valued at $46,000. 81.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GRMN has been the topic of a number of recent analyst reports. Tigress Financial upped their price target on shares of Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 19th. Barclays upped their price target on shares of Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research note on Friday, November 1st. StockNews.com cut shares of Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Finally, Morgan Stanley cut shares of Garmin from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $155.00 to $138.00 in a research note 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 assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $162.67.

Insider Buying and Selling at Garmin

In related news, Director Sean Biddlecombe sold 587 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $210.10, for a total transaction of $123,328.70. Following the completion of the sale, the director now owns 6,147 shares of the company’s stock, valued at approximately $1,291,484.70. This represents a 8.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.54% of the stock is owned by insiders.

Garmin Trading Up 0.7 %

NYSE:GRMN opened at $220.73 on Thursday. The firm has a market cap of $42.38 billion, a price-to-earnings ratio of 28.01, a price-to-earnings-growth ratio of 1.44 and a beta of 0.97. The company’s 50-day moving average is $193.75 and its two-hundred day moving average is $178.25. Garmin Ltd. has a 12-month low of $119.15 and a 12-month high of $222.97.

Garmin (NYSE:GRMN) last released its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.53. The company 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%. The firm’s quarterly revenue was up 24.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.41 EPS. On average, equities research analysts forecast that Garmin Ltd. will post 7.01 earnings per share for the current fiscal 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.