Exxonmobil Investment Management Inc. TX Trims Position in Garmin Ltd. (GRMN)
Exxonmobil Investment Management Inc. TX lessened its holdings in Garmin Ltd. (NASDAQ:GRMN) by 12.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,644 shares of the scientific and technical instruments company’s stock after selling 2,620 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Garmin were worth $1,051,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in GRMN. Dynamic Technology Lab Private Ltd bought a new position in Garmin during the second quarter valued at $376,000. Royal Bank of Canada increased its position in Garmin by 30.4% during the second quarter. Royal Bank of Canada now owns 231,794 shares of the scientific and technical instruments company’s stock valued at $11,827,000 after acquiring an additional 53,984 shares during the last quarter. Invictus RG bought a new position in Garmin during the third quarter valued at $739,000. Janus Henderson Group PLC increased its position in Garmin by 8,318.2% during the second quarter. Janus Henderson Group PLC now owns 1,257,516 shares of the scientific and technical instruments company’s stock valued at $64,171,000 after acquiring an additional 1,242,578 shares during the last quarter. Finally, Pinebridge Investments L.P. increased its position in Garmin by 42.4% during the third quarter. Pinebridge Investments L.P. now owns 9,203 shares of the scientific and technical instruments company’s stock valued at $497,000 after acquiring an additional 2,740 shares during the last quarter. Institutional investors own 41.54% of the company’s stock.
Garmin Ltd. (GRMN) opened at $63.24 on Friday. The company has a market cap of $11,860.00, a PE ratio of 17.23, a PEG ratio of 2.55 and a beta of 0.83. Garmin Ltd. has a 1-year low of $47.03 and a 1-year high of $63.34.
Garmin (NASDAQ:GRMN) last posted its quarterly earnings results on Wednesday, November 1st. The scientific and technical instruments company reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.09. The firm had revenue of $743.00 million for the quarter, compared to analysts’ expectations of $722.00 million. Garmin had a net margin of 22.65% and a return on equity of 15.23%. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 earnings per share. equities analysts forecast that Garmin Ltd. will post 2.9 EPS for the current fiscal year.
A number of research analysts have weighed in on GRMN shares. Zacks Investment Research upgraded shares of Garmin from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research report on Thursday, January 4th. ValuEngine upgraded shares of Garmin from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. BidaskClub cut shares of Garmin from a “buy” rating to a “hold” rating in a research report on Friday, December 15th. Tigress Financial reiterated a “buy” rating on shares of Garmin in a research report on Friday, December 15th. Finally, Credit Suisse Group reiterated an “underperform” rating and set a $58.00 price objective (up previously from $48.00) on shares of Garmin in a research report on Tuesday, December 12th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Garmin currently has an average rating of “Hold” and an average target price of $56.71.
In other news, insider Sean Biddlecombe sold 755 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $60.80, for a total value of $45,904.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Jonathan Burrell sold 254,000 shares of the company’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. Over the last 90 days, insiders sold 1,057,923 shares of company stock worth $64,040,293. Company insiders own 18.30% of the company’s stock.
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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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