Hanseatic Management Services Inc. purchased a new position in Garmin Ltd. (NASDAQ:GRMN) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 347 shares of the scientific and technical instruments company’s stock, valued at approximately $30,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc lifted its stake in shares of Garmin by 9.0% in the third quarter. Vanguard Group Inc now owns 12,760,863 shares of the scientific and technical instruments company’s stock worth $893,899,000 after buying an additional 1,057,737 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Garmin during the fourth quarter valued at approximately $64,000. IFP Advisors Inc raised its holdings in shares of Garmin by 0.5% during the fourth quarter. IFP Advisors Inc now owns 31,260 shares of the scientific and technical instruments company’s stock valued at $1,964,000 after purchasing an additional 151 shares during the last quarter. Strs Ohio raised its holdings in shares of Garmin by 5.5% during the fourth quarter. Strs Ohio now owns 8,230 shares of the scientific and technical instruments company’s stock valued at $521,000 after purchasing an additional 431 shares during the last quarter. Finally, Simmons Bank raised its holdings in shares of Garmin by 7.7% during the fourth quarter. Simmons Bank now owns 22,812 shares of the scientific and technical instruments company’s stock valued at $1,444,000 after purchasing an additional 1,629 shares during the last quarter. 42.10% of the stock is owned by institutional investors.

In other Garmin news, Director Sean Biddlecombe sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $83.51, for a total transaction of $125,265.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Patrick Desbois sold 1,749 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $86.00, for a total transaction of $150,414.00. The disclosure for this sale can be found here. 17.85% of the stock is currently owned by corporate insiders.

Several research analysts have recently weighed in on the stock. BidaskClub cut shares of Garmin from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 16th. Credit Suisse Group boosted their price objective on shares of Garmin from $58.00 to $71.00 and gave the company an “underperform” rating in a report on Monday, February 25th. Zacks Investment Research cut shares of Garmin from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 24th. Morgan Stanley set a $81.00 price objective on shares of Garmin and gave the company a “hold” rating in a report on Thursday, May 2nd. Finally, ValuEngine cut shares of Garmin from a “buy” rating to a “hold” rating in a report on Tuesday, February 19th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. The company currently has an average rating of “Hold” and an average target price of $79.39.

GRMN opened at $77.23 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.04 and a quick ratio of 3.07. Garmin Ltd. has a twelve month low of $59.39 and a twelve month high of $89.72. The company has a market cap of $15.39 billion, a PE ratio of 20.93, a P/E/G ratio of 2.82 and a beta of 0.90.

Garmin (NASDAQ:GRMN) last released its quarterly earnings data on Wednesday, May 1st. The scientific and technical instruments company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.02. Garmin had a net margin of 20.72% and a return on equity of 17.60%. The firm had revenue of $766.00 million during the quarter, compared to analysts’ expectations of $733.26 million. During the same period in the previous year, the company earned $0.68 earnings per share. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, research analysts predict that Garmin Ltd. will post 3.75 EPS for the current fiscal year.

WARNING: This piece of content was reported by TheOlympiaReport and is owned by of TheOlympiaReport. If you are viewing this piece of content on another site, it was illegally copied and reposted in violation of US and international copyright & trademark law. The legal version of this piece of content can be read at https://theolympiareport.com/2019/05/23/347-shares-in-garmin-ltd-grmn-acquired-by-hanseatic-management-services-inc.html.

About Garmin

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.

See Also: What Are Treasury Bonds?

Want to see what other hedge funds are holding GRMN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Garmin Ltd. (NASDAQ:GRMN).

Institutional Ownership by Quarter for Garmin (NASDAQ:GRMN)

Receive News & Ratings for Garmin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Garmin and related companies with MarketBeat.com's FREE daily email newsletter.