Garmin Ltd. (GRMN) Stake Raised by American Century Companies Inc.

American Century Companies Inc. increased its holdings in Garmin Ltd. (NASDAQ:GRMN) by 33.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 789,017 shares of the scientific and technical instruments company’s stock after purchasing an additional 195,908 shares during the period. American Century Companies Inc. owned approximately 0.42% of Garmin worth $42,583,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in GRMN. Janus Henderson Group PLC increased its position in Garmin by 8,318.2% in the second quarter. Janus Henderson Group PLC now owns 1,257,516 shares of the scientific and technical instruments company’s stock worth $64,171,000 after purchasing an additional 1,242,578 shares during the last quarter. Bank of New York Mellon Corp increased its position in Garmin by 117.9% in the second quarter. Bank of New York Mellon Corp now owns 2,228,687 shares of the scientific and technical instruments company’s stock worth $113,730,000 after purchasing an additional 1,205,778 shares during the last quarter. Marshall Wace North America L.P. increased its position in Garmin by 3,623.9% in the second quarter. Marshall Wace North America L.P. now owns 732,199 shares of the scientific and technical instruments company’s stock worth $37,343,000 after purchasing an additional 712,537 shares during the last quarter. Principal Financial Group Inc. increased its position in Garmin by 123.5% in the second quarter. Principal Financial Group Inc. now owns 1,158,613 shares of the scientific and technical instruments company’s stock worth $59,123,000 after purchasing an additional 640,133 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in Garmin by 153.9% in the second quarter. Alliancebernstein L.P. now owns 1,042,380 shares of the scientific and technical instruments company’s stock worth $53,193,000 after purchasing an additional 631,827 shares during the last quarter. Institutional investors own 38.01% of the company’s stock.

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Several equities research analysts recently weighed in on GRMN shares. Morgan Stanley set a $50.00 price target on shares of Garmin and gave the stock a “hold” rating in a research report on Monday, July 31st. ValuEngine upgraded shares of Garmin from a “hold” rating to a “buy” rating in a research report on Friday. Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of Garmin in a research report on Tuesday, August 8th. KeyCorp restated a “hold” rating on shares of Garmin in a research report on Wednesday, November 1st. Finally, Zacks Investment Research upgraded shares of Garmin from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research report on Thursday, November 2nd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $56.33.

In other Garmin news, VP Andrew R. Etkind sold 2,189 shares of Garmin stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $52.00, for a total transaction of $113,828.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Jonathan Burrell sold 231,500 shares of Garmin stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $51.20, for a total transaction of $11,852,800.00. The disclosure for this sale can be found here. Insiders have sold 1,168,735 shares of company stock valued at $63,773,912 over the last ninety days. 18.30% of the stock is owned by insiders.

Garmin Ltd. (NASDAQ GRMN) opened at $60.83 on Monday. The company has a market cap of $12,049.05, a price-to-earnings ratio of 21.12, a price-to-earnings-growth ratio of 2.51 and a beta of 0.81. Garmin Ltd. has a one year low of $47.03 and a one year high of $61.04.

Garmin (NASDAQ:GRMN) last posted its quarterly earnings data on Wednesday, November 1st. The scientific and technical instruments company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.66 by $0.09. The company had revenue of $743.00 million during the quarter, compared to analyst estimates of $722.00 million. Garmin had a net margin of 22.65% and a return on equity of 15.23%. Garmin’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.75 earnings per share. analysts predict that Garmin Ltd. will post 2.9 EPS for the current fiscal year.

Garmin Company Profile

Garmin Ltd. (Garmin) and subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. The Company operates through five segments. It offers a range of auto navigation products, as well as a range of products and applications designed for the mobile GPS market. It offers products to consumers around the world, including Outdoor Handhelds, Wearable Devices, Golf Devices, and Dog Tracking and Training/Pet Obedience Devices.

Institutional Ownership by Quarter for Garmin (NASDAQ:GRMN)

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