Garmin Ltd. (NYSE:GRMN) Stock Position Raised by Kentucky Retirement Systems

Kentucky Retirement Systems lifted its position in Garmin Ltd. (NYSE:GRMNGet Rating) by 2.7% in the 4th quarter, Holdings Channel reports. The fund owned 9,320 shares of the scientific and technical instruments company’s stock after buying an additional 246 shares during the period. Kentucky Retirement Systems’ holdings in Garmin were worth $1,269,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Eagle Bay Advisors LLC lifted its position in Garmin by 74.0% in the 3rd quarter. Eagle Bay Advisors LLC now owns 167 shares of the scientific and technical instruments company’s stock worth $26,000 after buying an additional 71 shares in the last quarter. Prospera Financial Services Inc grew its stake in Garmin by 3.3% in the 3rd quarter. Prospera Financial Services Inc now owns 2,240 shares of the scientific and technical instruments company’s stock valued at $349,000 after buying an additional 72 shares during the last quarter. Sandy Spring Bank grew its stake in Garmin by 10.9% in the 3rd quarter. Sandy Spring Bank now owns 764 shares of the scientific and technical instruments company’s stock valued at $119,000 after buying an additional 75 shares during the last quarter. TFC Financial Management grew its stake in Garmin by 9.4% in the 3rd quarter. TFC Financial Management now owns 928 shares of the scientific and technical instruments company’s stock valued at $144,000 after buying an additional 80 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Garmin by 0.3% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 28,392 shares of the scientific and technical instruments company’s stock valued at $4,414,000 after buying an additional 80 shares during the last quarter. Institutional investors and hedge funds own 72.45% of the company’s stock.

GRMN has been the topic of several research reports. Morgan Stanley dropped their price objective on shares of Garmin from $141.00 to $127.00 and set an “equal weight” rating on the stock in a report on Thursday, February 17th. Deutsche Bank Aktiengesellschaft upgraded shares of Garmin from a “hold” rating to a “buy” rating and boosted their price target for the company from $148.00 to $160.00 in a research report on Wednesday, January 5th. Zacks Investment Research lowered shares of Garmin from a “buy” rating to a “hold” rating and set a $119.00 target price on the stock. in a research report on Friday, February 18th. Tigress Financial upped their target price on shares of Garmin from $202.00 to $205.00 in a research report on Friday, February 25th. Finally, Bank of America upgraded shares of Garmin from a “neutral” rating to a “buy” rating and cut their price objective for the company from $165.00 to $140.00 in a report on Friday, March 18th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $148.50.

Shares of GRMN stock traded up $1.11 during trading hours on Tuesday, hitting $111.68. 532 shares of the company were exchanged, compared to its average volume of 1,250,788. Garmin Ltd. has a 52 week low of $106.66 and a 52 week high of $178.80. The business has a 50 day moving average of $114.92 and a two-hundred day moving average of $130.69. The company has a market capitalization of $21.53 billion, a PE ratio of 19.74, a PEG ratio of 2.73 and a beta of 1.02.

Garmin (NYSE:GRMNGet Rating) last announced its earnings results on Wednesday, February 16th. The scientific and technical instruments company reported $1.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.14. Garmin had a net margin of 21.72% and a return on equity of 19.31%. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the prior year, the company posted $1.73 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. As a group, sell-side analysts forecast that Garmin Ltd. will post 5.99 earnings per share for the current fiscal year.

Garmin Profile (Get Rating)

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices in the Americas, the Asia Pacific, Australian Continent, Europe, the Middle East, and Africa. Its Fitness segment offers running and multi-sport watches; cycling products; activity tracking and smartwatch devices; and fitness and cycling accessories.

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Institutional Ownership by Quarter for Garmin (NYSE:GRMN)

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