Garmin Ltd. (NYSE:GRMN) Shares Sold by Albert D Mason Inc.

Albert D Mason Inc. lowered its holdings in Garmin Ltd. (NYSE:GRMN) by 36.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,099 shares of the scientific and technical instruments company’s stock after selling 3,452 shares during the period. Albert D Mason Inc.’s holdings in Garmin were worth $1,258,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Outlook Wealth Advisors LLC raised its stake in shares of Garmin by 2.6% in the 4th quarter. Outlook Wealth Advisors LLC now owns 2,332 shares of the scientific and technical instruments company’s stock valued at $481,000 after purchasing an additional 58 shares in the last quarter. Sumitomo Life Insurance Co. increased its holdings in Garmin by 0.9% in the third quarter. Sumitomo Life Insurance Co. now owns 6,686 shares of the scientific and technical instruments company’s stock valued at $1,177,000 after buying an additional 61 shares during the last quarter. Elo Mutual Pension Insurance Co raised its stake in Garmin by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 14,056 shares of the scientific and technical instruments company’s stock valued at $2,290,000 after buying an additional 70 shares in the last quarter. Tealwood Asset Management Inc. lifted its holdings in Garmin by 0.5% during 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, Buckingham Capital Management Inc. grew its position in shares of Garmin by 0.7% in the 3rd quarter. Buckingham Capital Management Inc. now owns 11,715 shares of the scientific and technical instruments company’s stock worth $2,062,000 after acquiring an additional 80 shares in the last quarter. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Garmin Trading Up 0.4 %

Garmin stock opened at $215.50 on Friday. Garmin Ltd. has a 52 week low of $119.15 and a 52 week high of $222.97. The stock has a market cap of $41.38 billion, a price-to-earnings ratio of 27.35, a PEG ratio of 1.26 and a beta of 0.98. The company’s 50-day moving average price is $211.45 and its two-hundred day moving average price is $187.12.

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, beating analysts’ consensus estimates of $1.46 by $0.53. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The business’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same quarter last year, the business earned $1.41 earnings per share. Research analysts expect that Garmin Ltd. will post 7.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Morgan Stanley lowered Garmin from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $155.00 to $138.00 in a research report on Monday, October 7th. Tigress Financial raised their price target on shares of Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research report on Monday, December 16th. Finally, Barclays lifted their price target on shares of Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a report on Friday, November 1st. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Garmin currently has a consensus rating of “Hold” and a consensus target price of $171.00.

Insider Buying and Selling

In related news, Director Sean Biddlecombe sold 587 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $210.10, for a total transaction of $123,328.70. Following the completion of the sale, the director now directly owns 6,147 shares in the company, valued at approximately $1,291,484.70. This trade represents a 8.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Douglas G. Boessen sold 1,761 shares of the stock in a transaction on 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 $5,743,019.88. This trade represents a 6.00 % decrease in their position. The disclosure for this sale can be found here. 19.54% of the stock is owned by corporate insiders.

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.