Garmin Ltd. (GRMN) Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. decreased its holdings in Garmin Ltd. (NASDAQ:GRMN) by 2.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,424 shares of the scientific and technical instruments company’s stock after selling 899 shares during the period. Baird Financial Group Inc.’s holdings in Garmin were worth $2,038,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in GRMN. Point72 Asia Hong Kong Ltd raised its stake in Garmin by 105.4% in the first quarter. Point72 Asia Hong Kong Ltd now owns 1,736 shares of the scientific and technical instruments company’s stock valued at $102,000 after buying an additional 891 shares during the period. Sun Life Financial INC increased its stake in shares of Garmin by 1,601.7% during the second quarter. Sun Life Financial INC now owns 1,974 shares of the scientific and technical instruments company’s stock worth $120,000 after purchasing an additional 1,858 shares during the period. Cerebellum GP LLC bought a new position in shares of Garmin during the second quarter worth approximately $174,000. Engineers Gate Manager LP bought a new position in shares of Garmin during the second quarter worth approximately $201,000. Finally, TLP Group LLC increased its stake in shares of Garmin by 2,037.7% during the first quarter. TLP Group LLC now owns 3,463 shares of the scientific and technical instruments company’s stock worth $204,000 after purchasing an additional 3,301 shares during the period. Hedge funds and other institutional investors own 39.82% of the company’s stock.

A number of brokerages have recently weighed in on GRMN. ValuEngine upgraded Garmin from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. BidaskClub lowered Garmin from a “buy” rating to a “hold” rating in a research note on Wednesday, August 15th. Finally, Longbow Research set a $72.00 target price on Garmin and gave the stock a “buy” rating in a research note on Thursday, July 19th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Garmin has an average rating of “Hold” and an average target price of $62.80.

In related news, Chairman Min H. Kao sold 18,316 shares of the stock in a transaction that occurred on Thursday, June 28th. The stock was sold at an average price of $61.00, for a total transaction of $1,117,276.00. Following the sale, the chairman now owns 5,611,325 shares of the company’s stock, valued at $342,290,825. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Min H. Kao sold 606,873 shares of the stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $65.10, for a total value of $39,507,432.30. Following the sale, the insider now directly owns 1,901,429 shares in the company, valued at approximately $123,783,027.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,506,269 shares of company stock worth $288,181,273. 17.85% of the stock is owned by corporate insiders.

Shares of NASDAQ GRMN opened at $68.72 on Friday. The company has a market cap of $13.56 billion, a PE ratio of 23.37, a PEG ratio of 2.83 and a beta of 1.03. Garmin Ltd. has a 1-year low of $51.62 and a 1-year high of $69.15.

Garmin (NASDAQ:GRMN) last announced its earnings results on Wednesday, August 1st. The scientific and technical instruments company reported $0.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.12. The company had revenue of $894.50 million for the quarter, compared to analyst estimates of $844.76 million. Garmin had a return on equity of 15.98% and a net margin of 18.72%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.88 earnings per share. research analysts expect that Garmin Ltd. will post 3.29 EPS for the current year.

Garmin 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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