Canada Pension Plan Investment Board boosted its position in shares of Garmin Ltd. (NASDAQ:GRMN) by 77,423.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 76,748 shares of the scientific and technical instruments company’s stock after purchasing an additional 76,649 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Garmin were worth $4,142,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GRMN. Wellington Management Group LLP boosted its holdings in shares of Garmin by 5.6% in the first quarter. Wellington Management Group LLP now owns 25,282 shares of the scientific and technical instruments company’s stock valued at $1,293,000 after buying an additional 1,352 shares during the period. Teachers Advisors LLC boosted its holdings in shares of Garmin by 5.8% in the first quarter. Teachers Advisors LLC now owns 151,582 shares of the scientific and technical instruments company’s stock valued at $7,747,000 after buying an additional 8,278 shares during the period. Thrivent Financial For Lutherans acquired a new position in shares of Garmin in the first quarter valued at approximately $217,000. State of Alaska Department of Revenue boosted its holdings in shares of Garmin by 1.3% in the second quarter. State of Alaska Department of Revenue now owns 9,580 shares of the scientific and technical instruments company’s stock valued at $488,000 after buying an additional 120 shares during the period. Finally, Mn Services Vermogensbeheer B.V. boosted its holdings in shares of Garmin by 552.4% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 20,629 shares of the scientific and technical instruments company’s stock valued at $1,053,000 after buying an additional 17,467 shares during the period. Hedge funds and other institutional investors own 38.01% of the company’s stock.

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In related news, VP Andrew R. Etkind sold 2,189 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $52.00, for a total value of $113,828.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Jonathan Burrell sold 127,000 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $60.37, for a total transaction of $7,666,990.00. The disclosure for this sale can be found here. Insiders sold 1,298,148 shares of company stock worth $71,586,406 over the last 90 days. 18.30% of the stock is currently owned by corporate insiders.

Several research analysts have recently weighed in on GRMN shares. Zacks Investment Research cut shares of Garmin from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Longbow Research raised shares of Garmin from a “neutral” rating to a “buy” rating and set a $60.00 price objective on the stock in a research report on Wednesday, July 19th. They noted that the move was a valuation call. BidaskClub raised shares of Garmin from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 22nd. KeyCorp reissued a “hold” rating on shares of Garmin in a research report on Wednesday, November 1st. Finally, Morgan Stanley set a $50.00 price objective on shares of Garmin and gave the stock a “hold” rating in a research report on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. Garmin presently has a consensus rating of “Hold” and an average target price of $56.33.

Garmin Ltd. (NASDAQ:GRMN) opened at $60.29 on Thursday. Garmin Ltd. has a fifty-two week low of $47.03 and a fifty-two week high of $61.28. The company has a market cap of $12,033.20, a price-to-earnings ratio of 21.09, a price-to-earnings-growth ratio of 2.51 and a beta of 0.81.

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

Garmin Profile

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.

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Institutional Ownership by Quarter for Garmin (NASDAQ:GRMN)

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