Robeco Institutional Asset Management B.V. Has $93.44 Million Stock Holdings in Garmin Ltd. (NYSE:GRMN)

Robeco Institutional Asset Management B.V. reduced its position in shares of Garmin Ltd. (NYSE:GRMN) by 6.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 453,034 shares of the scientific and technical instruments company’s stock after selling 33,247 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.24% of Garmin worth $93,443,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GRMN. State Street Corp raised its holdings in shares of Garmin by 2.0% during the 3rd quarter. State Street Corp now owns 6,912,536 shares of the scientific and technical instruments company’s stock worth $1,216,819,000 after buying an additional 134,303 shares in the last quarter. Geode Capital Management LLC grew its position in Garmin by 2.7% in the third quarter. Geode Capital Management LLC now owns 4,363,464 shares of the scientific and technical instruments company’s stock valued at $765,912,000 after acquiring an additional 112,815 shares during the last quarter. FMR LLC raised its stake in Garmin by 40.8% during the third quarter. FMR LLC now owns 3,775,154 shares of the scientific and technical instruments company’s stock worth $664,540,000 after acquiring an additional 1,093,219 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its holdings in shares of Garmin by 3.6% in the third quarter. Disciplined Growth Investors Inc. MN now owns 1,401,004 shares of the scientific and technical instruments company’s stock worth $246,619,000 after acquiring an additional 48,645 shares during the last quarter. Finally, Captrust Financial Advisors boosted its stake in shares of Garmin by 4.1% in the 3rd quarter. Captrust Financial Advisors now owns 767,729 shares of the scientific and technical instruments company’s stock valued at $135,143,000 after purchasing an additional 30,011 shares in the last quarter. 81.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GRMN has been the subject of a number of research analyst reports. Morgan Stanley cut shares of Garmin from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $155.00 to $138.00 in a research report on Monday, October 7th. Barclays upped their price target on shares of Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Finally, Tigress Financial increased their price target on Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a research note on Monday, December 16th. Three equities 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $171.00.

Garmin Stock Performance

Shares of NYSE GRMN opened at $217.59 on Wednesday. The firm has a 50 day moving average price of $211.97 and a two-hundred day moving average price of $189.72. The stock has a market cap of $41.78 billion, a P/E ratio of 27.61, a price-to-earnings-growth ratio of 1.31 and a beta of 0.98. Garmin Ltd. has a 52-week low of $119.15 and a 52-week high of $222.97.

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

Insider Buying and Selling at Garmin

In other news, CFO Douglas G. Boessen sold 1,761 shares of Garmin stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $207.99, for a total value of $366,270.39. Following the completion of the transaction, the chief financial officer now directly owns 27,612 shares of the company’s stock, valued at approximately $5,743,019.88. This trade represents a 6.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 completion of the transaction, the director now directly owns 6,147 shares in the company, valued at $1,291,484.70. This represents a 8.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 19.54% of the company’s stock.

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.