Disciplined Growth Investors Inc. MN Has $246.62 Million Stock Position in Garmin Ltd. (NYSE:GRMN)

Disciplined Growth Investors Inc. MN increased its holdings in Garmin Ltd. (NYSE:GRMN) by 3.6% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,401,004 shares of the scientific and technical instruments company’s stock after buying an additional 48,645 shares during the quarter. Garmin comprises approximately 4.7% of Disciplined Growth Investors Inc. MN’s portfolio, making the stock its 4th biggest position. Disciplined Growth Investors Inc. MN owned about 0.73% of Garmin worth $246,619,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Sumitomo Life Insurance Co. increased its position in shares of Garmin by 0.9% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 6,686 shares of the scientific and technical instruments company’s stock valued at $1,177,000 after purchasing an additional 61 shares during the last quarter. Elo Mutual Pension Insurance Co increased its position in shares of Garmin by 0.5% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 14,056 shares of the scientific and technical instruments company’s stock valued at $2,290,000 after purchasing an additional 70 shares during the last quarter. UMB Bank n.a. increased its position in shares of Garmin by 2.6% during the 2nd quarter. UMB Bank n.a. now owns 2,879 shares of the scientific and technical instruments company’s stock valued at $469,000 after purchasing an additional 74 shares during the last quarter. Buckingham Capital Management Inc. increased its holdings in Garmin by 0.7% in the 3rd quarter. Buckingham Capital Management Inc. now owns 11,715 shares of the scientific and technical instruments company’s stock worth $2,062,000 after acquiring an additional 80 shares in the last quarter. Finally, Brighton Jones LLC increased its holdings in Garmin by 5.8% in the 2nd quarter. Brighton Jones LLC now owns 1,522 shares of the scientific and technical instruments company’s stock worth $248,000 after acquiring an additional 83 shares in the last quarter. 81.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GRMN has been the subject of several analyst reports. Tigress Financial increased their target price on shares of Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 19th. Barclays increased their target price on shares of Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. StockNews.com lowered shares of Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Finally, Morgan Stanley lowered shares of Garmin from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $155.00 to $138.00 in a report on Monday, October 7th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Garmin currently has a consensus rating of “Hold” and an average target price of $162.67.

Insider Activity

In related news, Director Sean Biddlecombe sold 587 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $210.10, for a total value of $123,328.70. Following the completion of the sale, the director now directly owns 6,147 shares in the company, valued at $1,291,484.70. This trade represents a 8.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 19.54% of the company’s stock.

Garmin Price Performance

Shares of GRMN opened at $219.28 on Tuesday. The firm has a market cap of $42.11 billion, a P/E ratio of 27.83, a price-to-earnings-growth ratio of 1.44 and a beta of 0.97. Garmin Ltd. has a 1 year low of $119.15 and a 1 year high of $220.50. The company has a 50 day simple moving average of $191.84 and a two-hundred day simple moving average of $177.56.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.53. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.44 billion. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The company’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.41 EPS. On average, sell-side analysts anticipate that Garmin Ltd. will post 7.01 earnings per share for the current year.

About Garmin

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.