Round Hill Asset Management trimmed its position in shares of Garmin Ltd. (NASDAQ:GRMN) by 4.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,445 shares of the scientific and technical instruments company’s stock after selling 1,400 shares during the period. Garmin makes up 1.3% of Round Hill Asset Management’s portfolio, making the stock its 18th biggest position. Round Hill Asset Management’s holdings in Garmin were worth $2,270,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GRMN. Hilton Capital Management LLC bought a new position in Garmin during the 1st quarter valued at $29,000. Hanseatic Management Services Inc. bought a new position in Garmin during the 1st quarter valued at $30,000. Pearl River Capital LLC bought a new position in Garmin during the 2nd quarter valued at $31,000. Farmers National Bank bought a new position in Garmin during the 1st quarter valued at $44,000. Finally, Amica Retiree Medical Trust bought a new position in Garmin during the 2nd quarter valued at $43,000. 42.02% of the stock is owned by institutional investors and hedge funds.

GRMN has been the topic of a number of research analyst reports. ValuEngine downgraded shares of Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. upgraded shares of Garmin from an “underweight” rating to a “neutral” rating and reduced their price objective for the company from $77.00 to $75.00 in a research note on Friday, June 7th. BidaskClub upgraded shares of Garmin from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Finally, Tigress Financial reiterated a “buy” rating on shares of Garmin in a research note on Friday, August 16th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $78.66.

In other news, insider Min H. Kao sold 53,985 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $79.06, for a total value of $4,268,054.10. Following the transaction, the insider now directly owns 1,779,429 shares in the company, valued at approximately $140,681,656.74. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sean Biddlecombe sold 316 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $80.39, for a total transaction of $25,403.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,473,446 shares of company stock worth $430,492,687. Insiders own 23.83% of the company’s stock.

Shares of Garmin stock traded up $1.36 during trading hours on Thursday, reaching $85.52. The company’s stock had a trading volume of 1,025,894 shares, compared to its average volume of 1,146,012. The company’s 50 day simple moving average is $79.38 and its 200 day simple moving average is $81.43. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.76 and a current ratio of 2.39. Garmin Ltd. has a one year low of $59.98 and a one year high of $89.72. The stock has a market cap of $16.86 billion, a P/E ratio of 23.18, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91.

Garmin (NASDAQ:GRMN) last posted its quarterly earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $1.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.16. Garmin had a net margin of 21.32% and a return on equity of 17.97%. The company had revenue of $955.00 million for the quarter, compared to the consensus estimate of $930.98 million. During the same period last year, the firm posted $0.99 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, sell-side analysts predict that Garmin Ltd. will post 3.9 earnings per share for the current fiscal year.

Garmin Company 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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