Garmin Ltd. (NYSE:GRMN) Shares Sold by Atwood & Palmer Inc.

Atwood & Palmer Inc. lessened its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 0.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 95,289 shares of the scientific and technical instruments company’s stock after selling 433 shares during the quarter. Atwood & Palmer Inc.’s holdings in Garmin were worth $19,654,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. raised its stake in shares of Garmin by 5.9% in the 2nd quarter. American Century Companies Inc. now owns 47,349 shares of the scientific and technical instruments company’s stock valued at $7,714,000 after purchasing an additional 2,651 shares in the last quarter. Blair William & Co. IL increased its holdings in Garmin by 13.1% in the second quarter. Blair William & Co. IL now owns 5,592 shares of the scientific and technical instruments company’s stock valued at $911,000 after buying an additional 649 shares during the last quarter. Brighton Jones LLC raised its stake in Garmin by 5.8% during the second quarter. Brighton Jones LLC now owns 1,522 shares of the scientific and technical instruments company’s stock valued at $248,000 after buying an additional 83 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in Garmin by 73.3% during the 2nd quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock worth $38,000 after buying an additional 99 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its position in shares of Garmin by 45.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 82,292 shares of the scientific and technical instruments company’s stock worth $13,407,000 after acquiring an additional 25,557 shares in the last quarter. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Garmin Stock Up 0.4 %

Shares of NYSE:GRMN opened at $215.50 on Tuesday. The company’s 50-day moving average price is $211.45 and its 200 day moving average price is $187.48. The company has a market cap of $41.38 billion, a PE ratio of 27.35, a P/E/G ratio of 1.30 and a beta of 0.98. Garmin Ltd. has a fifty-two week low of $119.15 and a fifty-two week high of $222.97.

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

Analyst Ratings Changes

GRMN has been the topic of several research analyst reports. Barclays raised their price objective on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research note on Friday, November 1st. Morgan Stanley lowered shares of Garmin from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $155.00 to $138.00 in a report on Monday, October 7th. Finally, Tigress Financial boosted their price objective on shares of Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a research report on Monday, December 16th. Three 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $171.00.

Insider Transactions at Garmin

In related news, CFO Douglas G. Boessen sold 1,761 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $207.99, for a total value of $366,270.39. Following the completion of the sale, the chief financial officer now owns 27,612 shares of the company’s stock, valued at $5,743,019.88. This represents a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sean Biddlecombe sold 587 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $210.10, for a total transaction of $123,328.70. Following the transaction, 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 position. The disclosure for this sale can be found here. Company insiders own 19.54% of the company’s stock.

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.