Garmin Ltd. (NYSE:GRMN) Shares Bought by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp lifted its position in Garmin Ltd. (NYSE:GRMN) by 6.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 35,801 shares of the scientific and technical instruments company’s stock after buying an additional 2,278 shares during the period. Atlantic Union Bankshares Corp’s holdings in Garmin were worth $6,302,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Sumitomo Life Insurance Co. grew its holdings in shares of Garmin by 0.9% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 6,686 shares of the scientific and technical instruments company’s stock worth $1,177,000 after acquiring an additional 61 shares during the last quarter. Elo Mutual Pension Insurance Co lifted its holdings in shares of Garmin by 0.5% in the second quarter. Elo Mutual Pension Insurance Co now owns 14,056 shares of the scientific and technical instruments company’s stock valued at $2,290,000 after purchasing an additional 70 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Garmin by 2.6% in the second quarter. UMB Bank n.a. now owns 2,879 shares of the scientific and technical instruments company’s stock worth $469,000 after buying an additional 74 shares during the period. Buckingham Capital Management Inc. grew its holdings in shares of Garmin by 0.7% during the third quarter. Buckingham Capital Management Inc. now owns 11,715 shares of the scientific and technical instruments company’s stock valued at $2,062,000 after buying an additional 80 shares in the last quarter. Finally, Brighton Jones LLC raised its position in Garmin by 5.8% during the second quarter. Brighton Jones LLC now owns 1,522 shares of the scientific and technical instruments company’s stock valued at $248,000 after buying an additional 83 shares during the period. 73.41% of the stock is owned by institutional investors and hedge funds.

Garmin Stock Down 0.4 %

Shares of GRMN opened at $212.09 on Friday. Garmin Ltd. has a 12 month low of $119.15 and a 12 month high of $216.44. The company’s fifty day moving average is $186.08 and its 200-day moving average is $175.15. The firm has a market cap of $40.73 billion, a price-to-earnings ratio of 26.91, a price-to-earnings-growth ratio of 1.40 and a beta of 0.97.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.53. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period last year, the company earned $1.41 earnings per share. The business’s revenue was up 24.1% compared to the same quarter last year. As a group, research analysts predict that Garmin Ltd. will post 7.01 earnings per share for the current fiscal year.

Insider Activity at Garmin

In related news, Director Sean Biddlecombe sold 587 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $210.10, for a total value of $123,328.70. Following the transaction, the director now directly owns 6,147 shares in the company, valued at approximately $1,291,484.70. This trade represents a 8.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 19.54% of the stock is owned by company insiders.

Analyst Ratings Changes

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

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.