Amalgamated Bank Acquires 3,975 Shares of Garmin Ltd. (NYSE:GRMN)

Amalgamated Bank raised its holdings in Garmin Ltd. (NYSE:GRMN) by 12.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 35,188 shares of the scientific and technical instruments company’s stock after acquiring an additional 3,975 shares during the quarter. Amalgamated Bank’s holdings in Garmin were worth $6,194,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Nordea Investment Management AB grew its stake in shares of Garmin by 4.4% during the first quarter. Nordea Investment Management AB now owns 10,111 shares of the scientific and technical instruments company’s stock worth $1,503,000 after purchasing an additional 430 shares during the period. Mediolanum International Funds Ltd bought a new stake in shares of Garmin in the 1st quarter valued at about $921,000. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Garmin in the 1st quarter valued at approximately $253,000. Empowered Funds LLC boosted its stake in Garmin by 27.1% during the 1st quarter. Empowered Funds LLC now owns 15,184 shares of the scientific and technical instruments company’s stock worth $2,260,000 after acquiring an additional 3,235 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in Garmin by 184.3% during the first quarter. SG Americas Securities LLC now owns 198,100 shares of the scientific and technical instruments company’s stock valued at $29,491,000 after purchasing an additional 128,429 shares during the period. Institutional investors and hedge funds own 73.41% of the company’s stock.

Garmin Price Performance

GRMN opened at $209.67 on Thursday. The company has a market capitalization of $40.26 billion, a price-to-earnings ratio of 26.61, a P/E/G ratio of 3.22 and a beta of 0.97. The business’s 50-day moving average price is $175.69 and its two-hundred day moving average price is $169.15. Garmin Ltd. has a 1 year low of $114.49 and a 1 year high of $210.33.

Garmin (NYSE:GRMN) last released its quarterly earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.53. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the firm posted $1.41 EPS. The business’s revenue was up 24.1% on a year-over-year basis. Sell-side analysts anticipate that Garmin Ltd. will post 6.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on GRMN shares. Barclays lifted their price target on shares of Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research report on Friday, November 1st. StockNews.com cut Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Tigress Financial raised their price target on Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 19th. Finally, Morgan Stanley cut Garmin from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $155.00 to $138.00 in a report on Monday, October 7th. Three 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $162.67.

Insider Activity at Garmin

In other Garmin news, Director Philip Straub sold 2,750 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $181.46, for a total transaction of $499,015.00. Following the sale, the director now directly owns 88,622 shares of the company’s stock, valued at $16,081,348.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Philip Straub sold 2,750 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $181.46, for a total transaction of $499,015.00. Following the transaction, the director now directly owns 88,622 shares in the company, valued at approximately $16,081,348.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Cheng-Wei Wang sold 10,055 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the completion of the sale, the insider now owns 40,965 shares of the company’s stock, valued at approximately $7,257,359.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,892 shares of company stock valued at $2,296,174. Corporate insiders own 19.54% of the company’s stock.

Garmin Company 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.