Mercer Global Advisors Inc. ADV Acquires 4,583 Shares of Garmin Ltd. (NYSE:GRMN)

Mercer Global Advisors Inc. ADV boosted its holdings in Garmin Ltd. (NYSE:GRMNGet Rating) by 5.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,322 shares of the scientific and technical instruments company’s stock after purchasing an additional 4,583 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Garmin were worth $12,571,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Morgan Stanley grew its position in shares of Garmin by 53.3% in the 2nd quarter. Morgan Stanley now owns 838,762 shares of the scientific and technical instruments company’s stock valued at $121,319,000 after acquiring an additional 291,472 shares during the period. Qube Research & Technologies Ltd grew its position in shares of Garmin by 515.4% in the 4th quarter. Qube Research & Technologies Ltd now owns 341,023 shares of the scientific and technical instruments company’s stock valued at $46,437,000 after acquiring an additional 285,609 shares during the period. Two Sigma Advisers LP grew its position in shares of Garmin by 5,464.1% in the 3rd quarter. Two Sigma Advisers LP now owns 217,000 shares of the scientific and technical instruments company’s stock valued at $33,735,000 after acquiring an additional 213,100 shares during the period. Panagora Asset Management Inc. grew its position in shares of Garmin by 527.5% in the 3rd quarter. Panagora Asset Management Inc. now owns 245,016 shares of the scientific and technical instruments company’s stock valued at $38,090,000 after acquiring an additional 205,969 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Garmin by 5.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,185,497 shares of the scientific and technical instruments company’s stock valued at $494,133,000 after acquiring an additional 166,245 shares during the period. 72.45% of the stock is owned by institutional investors and hedge funds.

GRMN traded up $2.30 during trading on Tuesday, reaching $112.87. 3,592 shares of the company’s stock were exchanged, compared to its average volume of 1,250,788. Garmin Ltd. has a one year low of $106.66 and a one year high of $178.80. The stock has a market capitalization of $21.76 billion, a PE ratio of 19.74, a price-to-earnings-growth ratio of 2.73 and a beta of 1.02. The firm has a fifty day moving average price of $114.92 and a two-hundred day moving average price of $130.69.

Garmin (NYSE:GRMNGet Rating) last posted its quarterly earnings data on Wednesday, February 16th. The scientific and technical instruments company reported $1.55 EPS for the quarter, beating the Zacks’ 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 company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period in the prior year, the firm posted $1.73 EPS. The company’s quarterly revenue was up 2.9% on a year-over-year basis. As a group, equities research analysts anticipate that Garmin Ltd. will post 5.99 earnings per share for the current year.

Several analysts have weighed in on the stock. Morgan Stanley dropped their price objective on shares of Garmin from $141.00 to $127.00 and set an “equal weight” rating for the company in a research note on Thursday, February 17th. Tigress Financial boosted their target price on shares of Garmin from $202.00 to $205.00 in a research report on Friday, February 25th. Deutsche Bank Aktiengesellschaft upgraded shares of Garmin from a “hold” rating to a “buy” rating and boosted their target price for the company from $148.00 to $160.00 in a research report on Wednesday, January 5th. Zacks Investment Research cut shares of Garmin from a “buy” rating to a “hold” rating and set a $119.00 target price for the company. in a research report on Friday, February 18th. Finally, Bank of America upgraded shares of Garmin from a “neutral” rating to a “buy” rating and dropped their target price for the company from $165.00 to $140.00 in a research report on Friday, March 18th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $148.50.

Garmin Company 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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