Bontempo Ohly Capital Mgmt LLC Has $5.79 Million Position in Garmin Ltd. (NYSE:GRMN)

Bontempo Ohly Capital Mgmt LLC lowered its position in shares of Garmin Ltd. (NYSE:GRMN) by 0.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 32,905 shares of the scientific and technical instruments company’s stock after selling 109 shares during the period. Garmin accounts for 2.6% of Bontempo Ohly Capital Mgmt LLC’s portfolio, making the stock its 3rd biggest holding. Bontempo Ohly Capital Mgmt LLC’s holdings in Garmin were worth $5,792,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. FMR LLC lifted its holdings in Garmin by 40.8% in the third quarter. FMR LLC now owns 3,775,154 shares of the scientific and technical instruments company’s stock worth $664,540,000 after purchasing an additional 1,093,219 shares during the period. AQR Capital Management LLC lifted its holdings in Garmin by 136.7% in the 2nd quarter. AQR Capital Management LLC now owns 711,849 shares of the scientific and technical instruments company’s stock valued at $115,177,000 after acquiring an additional 411,084 shares during the last quarter. Montrusco Bolton Investments Inc. purchased a new stake in Garmin during the third quarter valued at about $53,252,000. Renaissance Technologies LLC purchased a new stake in Garmin during the second quarter valued at about $45,999,000. Finally, Marshall Wace LLP lifted its stake in Garmin by 34.0% during the second quarter. Marshall Wace LLP now owns 1,098,443 shares of the scientific and technical instruments company’s stock valued at $178,958,000 after buying an additional 278,990 shares in the last quarter. Institutional investors own 73.41% of the company’s stock.

Garmin Trading Up 0.9 %

GRMN opened at $218.58 on Friday. Garmin Ltd. has a 1-year low of $119.15 and a 1-year high of $219.54. The stock has a market capitalization of $41.97 billion, a price-to-earnings ratio of 27.74, a P/E/G ratio of 1.42 and a beta of 0.97. The business has a 50 day moving average of $190.98 and a 200-day moving average of $177.05.

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

Insider Buying and Selling

In other Garmin news, Director Sean Biddlecombe sold 587 shares of the 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 completion of the transaction, the director now directly owns 6,147 shares in the company, valued at $1,291,484.70. This represents a 8.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 19.54% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

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.