Garmin Ltd. (GRMN) Shares Sold by Tredje AP fonden

Tredje AP fonden decreased its stake in Garmin Ltd. (NASDAQ:GRMN) by 23.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,020 shares of the scientific and technical instruments company’s stock after selling 10,410 shares during the quarter. Tredje AP fonden’s holdings in Garmin were worth $1,836,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Garmin by 3.7% in the second quarter. BlackRock Inc. now owns 11,293,625 shares of the scientific and technical instruments company’s stock valued at $576,315,000 after purchasing an additional 404,430 shares during the period. Vanguard Group Inc. grew its position in shares of Garmin by 0.6% in the second quarter. Vanguard Group Inc. now owns 10,473,447 shares of the scientific and technical instruments company’s stock valued at $534,459,000 after purchasing an additional 59,138 shares during the period. Bank of New York Mellon Corp grew its position in shares of Garmin by 117.9% in the second quarter. Bank of New York Mellon Corp now owns 2,228,687 shares of the scientific and technical instruments company’s stock valued at $113,730,000 after purchasing an additional 1,205,778 shares during the period. Disciplined Growth Investors Inc. MN grew its position in shares of Garmin by 0.5% in the second quarter. Disciplined Growth Investors Inc. MN now owns 1,634,576 shares of the scientific and technical instruments company’s stock valued at $83,412,000 after purchasing an additional 8,210 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Garmin by 8.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,619,167 shares of the scientific and technical instruments company’s stock valued at $87,385,000 after purchasing an additional 123,324 shares during the period. Institutional investors and hedge funds own 39.37% of the company’s stock.

Garmin Ltd. (NASDAQ GRMN) opened at $61.46 on Thursday. The firm has a market cap of $12,185.72, a PE ratio of 21.36, a P/E/G ratio of 2.54 and a beta of 0.84. Garmin Ltd. has a 52-week low of $47.03 and a 52-week high of $63.15.

Garmin (NASDAQ:GRMN) last posted its quarterly earnings results on Wednesday, November 1st. The scientific and technical instruments company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. The firm had revenue of $743.00 million for the quarter, compared to analyst estimates of $722.00 million. Garmin had a net margin of 22.65% and a return on equity of 15.23%. Garmin’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.75 earnings per share. research analysts forecast that Garmin Ltd. will post 2.9 EPS for the current fiscal year.

Several analysts have recently issued reports on GRMN shares. Zacks Investment Research upgraded shares of Garmin from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a research report on Thursday, November 2nd. BidaskClub lowered shares of Garmin from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 2nd. ValuEngine upgraded shares of Garmin from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Morgan Stanley lifted their target price on shares of Garmin from $52.00 to $57.00 and gave the company an “equal weight” rating in a research report on Thursday, November 2nd. Finally, KeyCorp reiterated a “hold” rating on shares of Garmin in a research report on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $56.33.

In related news, VP Andrew R. Etkind sold 2,073 shares of the business’s stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $53.00, for a total transaction of $109,869.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Jonathan Burrell sold 254,000 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $62.45, for a total transaction of $15,862,300.00. The disclosure for this sale can be found here. Insiders have sold 1,573,912 shares of company stock worth $90,968,273 over the last 90 days. 18.30% of the stock is currently owned by company insiders.

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About Garmin

Garmin Ltd. (Garmin) and subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. The Company operates through five segments. It offers a range of auto navigation products, as well as a range of products and applications designed for the mobile GPS market. It offers products to consumers around the world, including Outdoor Handhelds, Wearable Devices, Golf Devices, and Dog Tracking and Training/Pet Obedience Devices.

Institutional Ownership by Quarter for Garmin (NASDAQ:GRMN)

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