Paradigm Capital Management Inc. NY Has $2.09 Million Position in Garmin Ltd. (GRMN)

Paradigm Capital Management Inc. NY lifted its stake in shares of Garmin Ltd. (NASDAQ:GRMN) by 5.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 38,700 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,000 shares during the quarter. Paradigm Capital Management Inc. NY’s holdings in Garmin were worth $2,088,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Arizona State Retirement System raised its stake in shares of Garmin by 0.3% during the 2nd quarter. Arizona State Retirement System now owns 38,429 shares of the scientific and technical instruments company’s stock valued at $1,961,000 after purchasing an additional 100 shares during the period. Thrivent Financial For Lutherans raised its stake in shares of Garmin by 2.4% during the 2nd quarter. Thrivent Financial For Lutherans now owns 4,340 shares of the scientific and technical instruments company’s stock valued at $221,000 after purchasing an additional 100 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Garmin by 1.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 9,580 shares of the scientific and technical instruments company’s stock valued at $488,000 after purchasing an additional 120 shares during the period. Wedbush Securities Inc. raised its stake in shares of Garmin by 3.3% during the 2nd quarter. Wedbush Securities Inc. now owns 4,867 shares of the scientific and technical instruments company’s stock valued at $248,000 after purchasing an additional 156 shares during the period. Finally, US Bancorp DE raised its stake in shares of Garmin by 8.8% during the 2nd quarter. US Bancorp DE now owns 2,215 shares of the scientific and technical instruments company’s stock valued at $113,000 after purchasing an additional 180 shares during the period. Institutional investors own 38.01% of the company’s stock.

In other news, major shareholder Jonathan Burrell sold 231,500 shares of the stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $51.20, for a total transaction of $11,852,800.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Patrick Desbois sold 1,881 shares of the stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $55.00, for a total value of $103,455.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,168,735 shares of company stock worth $63,773,912 over the last quarter. Corporate insiders own 18.30% of the company’s stock.

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Shares of Garmin Ltd. (NASDAQ:GRMN) traded up $1.11 during midday trading on Monday, reaching $60.83. The company’s stock had a trading volume of 1,644,800 shares, compared to its average volume of 1,120,515. The company has a market cap of $12,049.05, a price-to-earnings ratio of 21.12, a P/E/G ratio of 2.51 and a beta of 0.81. Garmin Ltd. has a fifty-two week low of $47.03 and a fifty-two week high of $61.04.

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

GRMN has been the topic of a number of analyst reports. Longbow Research upgraded Garmin from a “neutral” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Wednesday, July 19th. They noted that the move was a valuation call. BidaskClub lowered Garmin from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Morgan Stanley set a $50.00 price objective on Garmin and gave the company a “hold” rating in a research note on Monday, July 31st. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Garmin in a research note on Tuesday, August 8th. Finally, Zacks Investment Research lowered Garmin from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $56.33.

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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