Radnor Capital Management LLC Cuts Stock Holdings in Garmin Ltd. (NYSE:GRMN)

Radnor Capital Management LLC reduced its position in Garmin Ltd. (NYSE:GRMN) by 5.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,717 shares of the scientific and technical instruments company’s stock after selling 350 shares during the period. Radnor Capital Management LLC’s holdings in Garmin were worth $1,385,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GRMN. Park Avenue Securities LLC increased its holdings in shares of Garmin by 62.2% in the 4th quarter. Park Avenue Securities LLC now owns 6,116 shares of the scientific and technical instruments company’s stock worth $1,261,000 after purchasing an additional 2,345 shares in the last quarter. Board of the Pension Protection Fund purchased a new stake in shares of Garmin during the fourth quarter valued at $1,031,000. Fifth Third Wealth Advisors LLC bought a new stake in Garmin in the 4th quarter worth about $220,000. Tealwood Asset Management Inc. raised its position in Garmin by 0.5% in the 4th quarter. Tealwood Asset Management Inc. now owns 15,405 shares of the scientific and technical instruments company’s stock worth $3,177,000 after buying an additional 75 shares during the last quarter. Finally, Pallas Capital Advisors LLC lifted its stake in Garmin by 84.2% during the 4th quarter. Pallas Capital Advisors LLC now owns 3,073 shares of the scientific and technical instruments company’s stock valued at $634,000 after acquiring an additional 1,405 shares during the period. 81.60% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Douglas G. Boessen sold 1,761 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $207.99, for a total value of $366,270.39. Following the transaction, the chief financial officer now directly owns 27,612 shares in the company, valued at $5,743,019.88. The trade was a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 completion of 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 position. The disclosure for this sale can be found here. 19.54% of the stock is owned by company insiders.

Garmin Price Performance

NYSE:GRMN opened at $211.73 on Wednesday. The firm has a market capitalization of $40.66 billion, a price-to-earnings ratio of 26.87, a price-to-earnings-growth ratio of 1.42 and a beta of 0.98. The business has a fifty day moving average price of $211.24 and a 200-day moving average price of $186.36. Garmin Ltd. has a one year low of $119.15 and a one year high of $222.97.

Garmin (NYSE:GRMN) last posted its quarterly earnings data 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. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the company earned $1.41 earnings per share. The business’s revenue for the quarter was up 24.1% compared to the same quarter last year. On average, equities research analysts expect that Garmin Ltd. will post 7.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GRMN has been the subject of a number of research analyst reports. Tigress Financial lifted their price target on shares of Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research note on Monday, December 16th. Barclays lifted their target price on shares of Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research report on Friday, November 1st. Finally, Morgan Stanley cut 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. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $171.00.

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.