City Holding Co. Sells 380 Shares of Garmin Ltd. (NYSE:GRMN)

City Holding Co. lowered its position in Garmin Ltd. (NYSE:GRMN) by 5.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,252 shares of the scientific and technical instruments company’s stock after selling 380 shares during the quarter. City Holding Co.’s holdings in Garmin were worth $1,496,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in GRMN. Pinnacle Bancorp Inc. bought a new position in Garmin in the 4th quarter worth about $29,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Garmin in the second quarter worth approximately $31,000. Larson Financial Group LLC raised its stake 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 valued at $33,000 after purchasing an additional 162 shares in the last quarter. Benjamin Edwards Inc. lifted its position in Garmin by 73.3% during the second quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock valued at $38,000 after purchasing an additional 99 shares during the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new position in Garmin in the 3rd quarter worth approximately $39,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on GRMN shares. Tigress Financial raised 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. Barclays lifted their price target on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research note on Friday, November 1st. Finally, Morgan Stanley lowered Garmin from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $155.00 to $138.00 in a research report on Monday, October 7th. 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. According to MarketBeat, Garmin presently has a consensus rating of “Hold” and a consensus target price of $171.00.

Insiders Place Their Bets

In other Garmin news, CFO Douglas G. Boessen sold 1,761 shares of Garmin stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $207.99, for a total transaction of $366,270.39. Following the sale, the chief financial officer now directly owns 27,612 shares of the company’s stock, valued at approximately $5,743,019.88. The trade was a 6.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sean Biddlecombe sold 587 shares of Garmin 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 of the company’s stock, valued at approximately $1,291,484.70. This trade represents a 8.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 19.54% of the company’s stock.

Garmin Trading Up 0.4 %

GRMN opened at $215.50 on Monday. Garmin Ltd. has a 12 month low of $119.15 and a 12 month high of $222.97. The business’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 P/E ratio of 27.35, a P/E/G ratio of 1.26 and a beta of 0.98.

Garmin (NYSE:GRMN) last announced 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. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the company posted $1.41 earnings per share. The business’s revenue was up 24.1% on a year-over-year basis. Equities research analysts forecast that Garmin Ltd. will post 7.01 earnings per share for the current fiscal year.

Garmin Company 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.