7,040 Shares in Garmin Ltd. (GRMN) Acquired by Green Square Capital LLC

Green Square Capital LLC acquired a new stake in shares of Garmin Ltd. (NASDAQ:GRMN) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,040 shares of the scientific and technical instruments company’s stock, valued at approximately $418,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GRMN. Victory Capital Management Inc. raised its position in Garmin by 8.3% during the fourth quarter. Victory Capital Management Inc. now owns 15,359 shares of the scientific and technical instruments company’s stock valued at $915,000 after purchasing an additional 1,175 shares in the last quarter. Aperio Group LLC raised its position in Garmin by 5.0% during the fourth quarter. Aperio Group LLC now owns 60,422 shares of the scientific and technical instruments company’s stock valued at $3,599,000 after purchasing an additional 2,851 shares in the last quarter. ING Groep NV increased its holdings in shares of Garmin by 10.0% during the fourth quarter. ING Groep NV now owns 10,551 shares of the scientific and technical instruments company’s stock worth $629,000 after buying an additional 961 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Garmin by 232.3% during the fourth quarter. Teacher Retirement System of Texas now owns 53,612 shares of the scientific and technical instruments company’s stock worth $3,194,000 after buying an additional 37,477 shares in the last quarter. Finally, M&T Bank Corp increased its holdings in shares of Garmin by 9.0% during the fourth quarter. M&T Bank Corp now owns 44,105 shares of the scientific and technical instruments company’s stock worth $2,628,000 after buying an additional 3,651 shares in the last quarter. Institutional investors and hedge funds own 39.98% of the company’s stock.

Shares of Garmin opened at $62.24 on Thursday, MarketBeat reports. Garmin Ltd. has a twelve month low of $49.80 and a twelve month high of $65.96. The firm has a market capitalization of $11.74 billion, a P/E ratio of 21.17, a price-to-earnings-growth ratio of 2.39 and a beta of 0.99.

Garmin (NASDAQ:GRMN) last issued its quarterly earnings data on Wednesday, May 2nd. The scientific and technical instruments company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.12. Garmin had a net margin of 18.57% and a return on equity of 15.66%. The company had revenue of $711.00 million for the quarter, compared to analysts’ expectations of $670.71 million. During the same quarter in the previous year, the firm posted $0.52 earnings per share. Garmin’s revenue for the quarter was up 10.9% on a year-over-year basis. analysts forecast that Garmin Ltd. will post 3.13 EPS for the current year.

In related news, insider Pao-Chang Huang sold 2,375 shares of the business’s stock in a transaction on Tuesday, May 29th. The shares were sold at an average price of $60.22, for a total value of $143,022.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Danny J. Bartel sold 1,548 shares of the business’s stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $59.69, for a total transaction of $92,400.12. The disclosure for this sale can be found here. In the last three months, insiders sold 3,404,992 shares of company stock worth $204,373,690. 17.85% of the stock is currently owned by insiders.

GRMN has been the subject of several research analyst reports. Credit Suisse Group reiterated a “hold” rating on shares of Garmin in a report on Thursday, February 22nd. Robert W. Baird reiterated a “neutral” rating and set a $60.00 price target (up from $57.00) on shares of Garmin in a report on Thursday, February 22nd. Tigress Financial reiterated a “buy” rating on shares of Garmin in a report on Monday, March 12th. Zacks Investment Research downgraded shares of Garmin from a “buy” rating to a “hold” rating in a report on Friday, March 23rd. Finally, ValuEngine upgraded shares of Garmin from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $60.40.

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.

Institutional Ownership by Quarter for Garmin (NASDAQ:GRMN)

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