Strs Ohio Has $1.73 Million Holdings in Garmin Ltd. (NASDAQ:GRMN)

Strs Ohio lifted its holdings in shares of Garmin Ltd. (NASDAQ:GRMN) by 102.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,721 shares of the scientific and technical instruments company’s stock after purchasing an additional 8,967 shares during the period. Strs Ohio’s holdings in Garmin were worth $1,727,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the company. State Street Corp lifted its holdings in shares of Garmin by 1.3% during the first quarter. State Street Corp now owns 6,301,488 shares of the scientific and technical instruments company’s stock worth $472,365,000 after purchasing an additional 78,854 shares during the period. Geode Capital Management LLC raised its stake in Garmin by 2.6% during the first quarter. Geode Capital Management LLC now owns 3,225,560 shares of the scientific and technical instruments company’s stock worth $241,467,000 after buying an additional 80,991 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Garmin by 30.7% during the first quarter. JPMorgan Chase & Co. now owns 2,645,425 shares of the scientific and technical instruments company’s stock worth $198,301,000 after buying an additional 621,184 shares during the last quarter. First Trust Advisors LP raised its stake in Garmin by 161.4% during the second quarter. First Trust Advisors LP now owns 1,882,173 shares of the scientific and technical instruments company’s stock worth $183,512,000 after buying an additional 1,162,038 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its stake in Garmin by 0.9% during the first quarter. Disciplined Growth Investors Inc. MN now owns 1,580,411 shares of the scientific and technical instruments company’s stock worth $118,468,000 after buying an additional 13,680 shares during the last quarter. Institutional investors own 46.89% of the company’s stock.

GRMN opened at $98.59 on Friday. Garmin Ltd. has a 1-year low of $61.04 and a 1-year high of $105.58. The company has a current ratio of 2.80, a quick ratio of 2.74 and a debt-to-equity ratio of 0.01. The company has a market cap of $18.83 billion, a P/E ratio of 20.20, a price-to-earnings-growth ratio of 4.17 and a beta of 0.99. The company has a fifty day moving average price of $97.13 and a two-hundred day moving average price of $89.16.

Garmin (NASDAQ:GRMN) last posted its quarterly earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.53. Garmin had a net margin of 24.82% and a return on equity of 17.77%. The firm had revenue of $870.00 million during the quarter, compared to the consensus estimate of $666.68 million. During the same period in the previous year, the firm posted $1.16 earnings per share. The business’s revenue was down 8.9% compared to the same quarter last year. On average, research analysts forecast that Garmin Ltd. will post 3.22 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 31st. Stockholders of record on Monday, March 15th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Friday, March 12th. Garmin’s payout ratio is presently 54.83%.

A number of equities analysts recently weighed in on the stock. Colliers Secur. raised shares of Garmin from a “neutral” rating to a “buy” rating and set a $118.00 target price for the company in a research note on Monday, June 15th. Cfra lowered their target price on shares of Garmin from $104.00 to $95.00 and set a “hold” rating for the company in a research note on Wednesday, April 29th. JPMorgan Chase & Co. lifted their target price on shares of Garmin from $101.00 to $110.00 in a research note on Thursday. BidaskClub raised shares of Garmin from a “sell” rating to a “hold” rating in a research note on Friday, May 29th. Finally, Tigress Financial reissued a “buy” rating on shares of Garmin in a research note on Thursday, May 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. Garmin has a consensus rating of “Hold” and a consensus price target of $95.43.

In other news, CEO Clifton A. Pemble sold 14,720 shares of the business’s stock in a transaction dated Friday, July 17th. The shares were sold at an average price of $99.91, for a total transaction of $1,470,675.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Matthew Munn sold 1,500 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $80.84, for a total transaction of $121,260.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,038 shares of company stock valued at $1,954,454. 22.00% of the stock is currently owned by insiders.

Garmin Profile

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices worldwide. It operates through five segments: Auto, Aviation, Marine, Outdoor, and Fitness. The Auto segment offers personal navigation devices; infotainment systems; and action cameras, as well as mobile applications under the Garmin and NAVIGON names.

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Institutional Ownership by Quarter for Garmin (NASDAQ:GRMN)

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