Garmin Ltd. (NYSE:GRMN) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC lessened its stake in Garmin Ltd. (NYSE:GRMN) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,001 shares of the scientific and technical instruments company’s stock after selling 1,004 shares during the period. MetLife Investment Management LLC’s holdings in Garmin were worth $7,041,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. purchased a new position in Garmin during the 2nd quarter worth approximately $31,000. Larson Financial Group LLC boosted its holdings in shares of Garmin by 578.6% in the third quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock valued at $33,000 after acquiring an additional 162 shares during the period. Family Firm Inc. acquired a new stake in shares of Garmin in the second quarter valued at approximately $35,000. Benjamin Edwards Inc. grew its position in shares of Garmin by 73.3% during the second quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock worth $38,000 after acquiring an additional 99 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of Garmin in the 2nd quarter valued at $46,000. Hedge funds and other institutional investors own 73.41% of the company’s stock.

Insiders Place Their Bets

In other Garmin news, Director Sean Biddlecombe sold 587 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $210.10, for a total transaction of $123,328.70. Following the sale, the director now directly owns 6,147 shares in the company, valued at approximately $1,291,484.70. The trade was a 8.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 19.54% of the stock is currently owned by company insiders.

Garmin Price Performance

GRMN opened at $212.78 on Friday. The business has a 50 day simple moving average of $186.92 and a 200-day simple moving average of $175.45. Garmin Ltd. has a 12 month low of $119.15 and a 12 month high of $216.44. The stock has a market capitalization of $40.86 billion, a P/E ratio of 27.00, a P/E/G ratio of 1.40 and a beta of 0.97.

Garmin (NYSE:GRMN) last issued its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 EPS for the quarter, topping the consensus estimate of $1.46 by $0.53. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The business’s revenue was up 24.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.41 EPS. Research analysts anticipate that Garmin Ltd. will post 7.01 EPS for the current year.

Analyst Ratings Changes

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

Garmin Profile

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.