Metis Global Partners LLC Purchases 606 Shares of Garmin Ltd. (NYSE:GRMN)

Metis Global Partners LLC grew its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 6.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,554 shares of the scientific and technical instruments company’s stock after purchasing an additional 606 shares during the quarter. Metis Global Partners LLC’s holdings in Garmin were worth $1,682,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of GRMN. LBP AM SA raised its stake in Garmin by 81.4% in the first quarter. LBP AM SA now owns 7,284 shares of the scientific and technical instruments company’s stock valued at $1,084,000 after purchasing an additional 3,268 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of Garmin by 51.7% in the first quarter. Cetera Investment Advisers now owns 28,395 shares of the scientific and technical instruments company’s stock worth $4,227,000 after buying an additional 9,681 shares during the period. Algert Global LLC purchased a new position in shares of Garmin in the second quarter valued at about $508,000. Dynamic Advisor Solutions LLC bought a new position in shares of Garmin during the third quarter valued at about $695,000. Finally, Trajan Wealth LLC boosted its holdings in shares of Garmin by 9.1% during the third quarter. Trajan Wealth LLC now owns 82,362 shares of the scientific and technical instruments company’s stock worth $14,498,000 after purchasing an additional 6,878 shares during the period. Hedge funds and other institutional investors own 73.41% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. StockNews.com downgraded Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Morgan Stanley cut shares of Garmin from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $155.00 to $138.00 in a research report on Monday, October 7th. Tigress Financial raised their price objective on shares of Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 19th. Finally, Barclays increased their target price on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research report on Friday, November 1st. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $162.67.

Insider Transactions at Garmin

In related news, Director Philip Straub sold 2,750 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $181.46, for a total value of $499,015.00. Following the transaction, the director now directly owns 88,622 shares of the company’s stock, valued at approximately $16,081,348.12. This trade represents a 3.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sean Biddlecombe sold 587 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $210.10, for a total value of $123,328.70. Following the sale, the director now directly owns 6,147 shares of the company’s stock, valued at $1,291,484.70. This represents a 8.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,479 shares of company stock worth $2,419,502 in the last quarter. Company insiders own 19.54% of the company’s stock.

Garmin Trading Down 1.4 %

Shares of GRMN opened at $208.43 on Friday. Garmin Ltd. has a 12 month low of $118.51 and a 12 month high of $215.55. The business’s fifty day simple moving average is $179.96 and its two-hundred day simple moving average is $172.31. The company has a market cap of $40.02 billion, a price-to-earnings ratio of 26.45, a P/E/G ratio of 3.24 and a beta of 0.97.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.53. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The business’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.41 earnings per share. As a group, research analysts forecast that Garmin Ltd. will post 6.88 EPS for the current year.

Garmin Profile

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.