Garmin Ltd. (NYSE:GRMN) Holdings Trimmed by First Affirmative Financial Network

First Affirmative Financial Network reduced its position in shares of Garmin Ltd. (NYSE:GRMN) by 17.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,036 shares of the scientific and technical instruments company’s stock after selling 226 shares during the period. First Affirmative Financial Network’s holdings in Garmin were worth $214,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GRMN. Pinnacle Bancorp Inc. acquired a new position in shares of Garmin in the 4th quarter worth approximately $29,000. Larson Financial Group LLC grew its position in 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 worth $33,000 after buying an additional 162 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Garmin in the third quarter valued at $39,000. Capital Performance Advisors LLP acquired a new stake in shares of Garmin during the 3rd quarter valued at $59,000. Finally, Versant Capital Management Inc lifted its position in shares of Garmin by 78.0% during the 4th quarter. Versant Capital Management Inc now owns 493 shares of the scientific and technical instruments company’s stock valued at $102,000 after acquiring an additional 216 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GRMN has been the topic of a number of recent analyst reports. Morgan Stanley lowered Garmin from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $155.00 to $138.00 in a research report on Monday, October 7th. Tigress Financial boosted their price objective on Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a report on Monday, December 16th. Finally, Barclays raised 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. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company. According to MarketBeat, Garmin has a consensus rating of “Hold” and a consensus price target of $171.00.

Garmin Trading Up 1.3 %

NYSE:GRMN opened at $217.02 on Friday. The business’s fifty day moving average price is $212.35 and its 200 day moving average price is $190.24. The firm has a market capitalization of $41.67 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 1.31 and a beta of 0.98. Garmin Ltd. has a 1-year low of $119.15 and a 1-year high of $222.97.

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

Insider Buying and Selling at Garmin

In other Garmin news, Director Sean Biddlecombe sold 587 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $210.10, for a total value of $123,328.70. Following the transaction, the director now directly owns 6,147 shares of the company’s stock, valued at $1,291,484.70. This represents a 8.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Douglas G. Boessen sold 1,761 shares of Garmin 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 sale, the chief financial officer now owns 27,612 shares of the company’s stock, valued at approximately $5,743,019.88. This represents a 6.00 % decrease in their ownership of the stock. 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.