Segment Wealth Management LLC boosted its stake in shares of Garmin Ltd. (NASDAQ:GRMN) by 2.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,475 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,397 shares during the quarter. Segment Wealth Management LLC’s holdings in Garmin were worth $3,543,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of GRMN. Franklin Resources Inc. increased its stake in Garmin by 76.2% during the second quarter. Franklin Resources Inc. now owns 42,927 shares of the scientific and technical instruments company’s stock worth $2,191,000 after acquiring an additional 18,570 shares during the last quarter. Wells Fargo & Company MN increased its stake in Garmin by 192.6% during the second quarter. Wells Fargo & Company MN now owns 183,366 shares of the scientific and technical instruments company’s stock worth $9,357,000 after acquiring an additional 120,696 shares during the last quarter. Teachers Advisors LLC increased its stake in Garmin by 8.7% during the second quarter. Teachers Advisors LLC now owns 164,729 shares of the scientific and technical instruments company’s stock worth $8,406,000 after acquiring an additional 13,147 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in Garmin by 4.1% during the second quarter. TIAA CREF Investment Management LLC now owns 351,192 shares of the scientific and technical instruments company’s stock worth $17,921,000 after acquiring an additional 13,940 shares during the last quarter. Finally, Nationwide Fund Advisors increased its stake in Garmin by 1.1% during the second quarter. Nationwide Fund Advisors now owns 84,791 shares of the scientific and technical instruments company’s stock worth $4,327,000 after acquiring an additional 900 shares during the last quarter. 41.40% of the stock is currently owned by institutional investors.

Garmin Ltd. (NASDAQ:GRMN) opened at $64.04 on Tuesday. The company has a market capitalization of $11,975.63, a P/E ratio of 17.45, a PEG ratio of 2.58 and a beta of 0.85. Garmin Ltd. has a 52 week low of $47.03 and a 52 week high of $64.05.

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

Several equities research analysts have weighed in on GRMN shares. Credit Suisse Group reissued an “underperform” rating and set a $58.00 price objective (up from $48.00) on shares of Garmin in a research note on Tuesday, December 12th. Zacks Investment Research cut Garmin from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. BidaskClub cut Garmin from a “buy” rating to a “hold” rating in a research note on Friday, December 15th. Tigress Financial reaffirmed a “buy” rating on shares of Garmin in a research note on Friday, December 15th. Finally, Morgan Stanley upped their target price on Garmin from $52.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, November 2nd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. Garmin currently has an average rating of “Hold” and a consensus price target of $56.71.

In related news, insider Sean Biddlecombe sold 755 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $60.80, for a total value of $45,904.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Clifton A. Pemble sold 38,302 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $60.00, for a total value of $2,298,120.00. The disclosure for this sale can be found here. Insiders sold 1,057,923 shares of company stock valued at $64,040,293 in the last quarter. 18.30% of the stock is 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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