Caisse DE Depot ET Placement DU Quebec Raises Stock Position in Garmin Ltd. (NYSE:GRMN)

Caisse DE Depot ET Placement DU Quebec increased its position in shares of Garmin Ltd. (NYSE:GRMN) by 559.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 150,419 shares of the scientific and technical instruments company’s stock after acquiring an additional 127,613 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned about 0.08% of Garmin worth $26,478,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GRMN. Cetera Investment Advisers boosted its holdings in Garmin by 51.7% in the first quarter. Cetera Investment Advisers now owns 28,395 shares of the scientific and technical instruments company’s stock worth $4,227,000 after acquiring an additional 9,681 shares in the last quarter. Citigroup Inc. boosted its stake in Garmin by 123.2% in the 3rd quarter. Citigroup Inc. now owns 283,412 shares of the scientific and technical instruments company’s stock worth $49,889,000 after purchasing an additional 156,441 shares in the last quarter. Algert Global LLC purchased a new stake in Garmin during the 2nd quarter worth approximately $508,000. Dynamic Advisor Solutions LLC acquired a new position in Garmin during the 3rd quarter valued at approximately $695,000. Finally, Trajan Wealth LLC raised its holdings in shares of Garmin by 9.1% in the third quarter. Trajan Wealth LLC now owns 82,362 shares of the scientific and technical instruments company’s stock worth $14,498,000 after buying an additional 6,878 shares during the last quarter. Hedge funds and other institutional investors own 73.41% of the company’s stock.

Insider Buying and Selling at Garmin

In other news, Director Sean Biddlecombe sold 587 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $210.10, for a total transaction of $123,328.70. Following the transaction, the director now owns 6,147 shares in the company, valued at $1,291,484.70. This trade represents a 8.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 19.54% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on GRMN shares. StockNews.com lowered shares of Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. 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 report on Monday, October 7th. Barclays lifted their target price on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Finally, Tigress Financial increased their price target on shares of Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 19th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $162.67.

Garmin Stock Up 0.2 %

Garmin stock opened at $212.60 on Monday. The business’s 50-day moving average price is $186.92 and its 200 day moving average price is $175.52. The firm has a market cap of $40.82 billion, a price-to-earnings ratio of 26.98, a price-to-earnings-growth ratio of 1.40 and a beta of 0.97. Garmin Ltd. has a 52 week low of $119.15 and a 52 week high of $216.44.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.53. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter last year, the company earned $1.41 EPS. The business’s revenue was up 24.1% on a year-over-year basis. Equities analysts expect that Garmin Ltd. will post 7.01 EPS for the current year.

Garmin Company Profile

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.