Parametric Portfolio Associates LLC boosted its holdings in Garmin Ltd. (NASDAQ:GRMN) by 7.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 288,209 shares of the scientific and technical instruments company’s stock after acquiring an additional 19,710 shares during the quarter. Parametric Portfolio Associates LLC owned 0.15% of Garmin worth $14,707,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Arizona State Retirement System increased its stake in Garmin by 0.3% in the 2nd quarter. Arizona State Retirement System now owns 38,429 shares of the scientific and technical instruments company’s stock valued at $1,961,000 after buying an additional 100 shares during the last quarter. Thrivent Financial For Lutherans increased its stake in Garmin by 2.4% in the 2nd quarter. Thrivent Financial For Lutherans now owns 4,340 shares of the scientific and technical instruments company’s stock valued at $221,000 after buying an additional 100 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Garmin by 1.3% in the 2nd 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 last quarter. PNC Financial Services Group Inc. increased its stake in Garmin by 0.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 17,149 shares of the scientific and technical instruments company’s stock valued at $875,000 after buying an additional 127 shares during the last quarter. Finally, Wedbush Securities Inc. increased its stake in Garmin by 3.3% in the 2nd quarter. Wedbush Securities Inc. now owns 4,867 shares of the scientific and technical instruments company’s stock valued at $248,000 after buying an additional 156 shares during the last quarter. 39.59% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Sean Biddlecombe sold 1,697 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $51.83, for a total transaction of $87,955.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Andrew R. Etkind sold 2,189 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $52.00, for a total transaction of $113,828.00. The disclosure for this sale can be found here. Insiders have sold 978,183 shares of company stock valued at $50,616,903 over the last three months. 18.30% of the stock is owned by corporate insiders.

Shares of Garmin Ltd. (NASDAQ:GRMN) opened at 53.83 on Friday. The stock’s 50 day moving average is $52.58 and its 200 day moving average is $51.60. The stock has a market cap of $10.10 billion, a price-to-earnings ratio of 15.13 and a beta of 0.86. Garmin Ltd. has a 52 week low of $46.80 and a 52 week high of $55.74.

Garmin (NASDAQ:GRMN) last released its quarterly earnings data on Wednesday, August 2nd. The scientific and technical instruments company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.07. Garmin had a net margin of 22.07% and a return on equity of 15.55%. The firm had revenue of $816.89 million during the quarter, compared to analysts’ expectations of $806.67 million. During the same period in the previous year, the company earned $0.87 earnings per share. The firm’s quarterly revenue was up .7% on a year-over-year basis. On average, equities analysts forecast that Garmin Ltd. will post $2.80 EPS for the current year.

GRMN has been the subject of several analyst reports. Longbow Research upgraded shares of Garmin from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Wednesday, July 19th. They noted that the move was a valuation call. Tigress Financial reiterated a “buy” rating on shares of Garmin in a research note on Monday, July 10th. BidaskClub upgraded shares of Garmin from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 22nd. Morgan Stanley set a $50.00 price objective on shares of Garmin and gave the company a “hold” rating in a research note on Monday, July 31st. Finally, Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Garmin in a research note on Tuesday, August 8th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Garmin presently has a consensus rating of “Hold” and a consensus target price of $52.80.

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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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