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

City Holding Co. lessened its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 5.0% during the 4th quarter, HoldingsChannel reports. The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Aaron Wealth Advisors LLC bought a new stake in Garmin during the fourth quarter valued at about $229,000. BNC Wealth Management LLC lifted its position in shares of Garmin by 6.6% during the 4th quarter. BNC Wealth Management LLC now owns 23,066 shares of the scientific and technical instruments company’s stock valued at $4,758,000 after buying an additional 1,424 shares in the last quarter. Kera Capital Partners Inc. bought a new position in shares of Garmin during the 4th quarter valued at approximately $214,000. Ameritas Advisory Services LLC bought a new position in shares of Garmin during the 4th quarter valued at approximately $440,000. Finally, HB Wealth Management LLC increased its holdings in Garmin by 1.4% in the 4th quarter. HB Wealth Management LLC now owns 3,821 shares of the scientific and technical instruments company’s stock worth $788,000 after acquiring an additional 53 shares in the last quarter. Institutional investors own 81.60% of the company’s stock.

Insiders Place Their Bets

In other Garmin news, 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 value of $123,328.70. Following the completion of the sale, the director now owns 6,147 shares of the company’s stock, valued at $1,291,484.70. This trade represents a 8.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Douglas G. Boessen sold 1,761 shares of the business’s stock in a transaction that occurred 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 transaction, 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 currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Barclays upped their price target 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. Morgan Stanley lowered shares of Garmin from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $155.00 to $138.00 in a report on Monday, October 7th. Finally, Tigress Financial upped their target price 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. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $171.00.

Garmin Stock Performance

NYSE GRMN opened at $215.50 on Monday. The stock has a 50 day moving average price of $211.45 and a 200-day moving average price of $187.48. Garmin Ltd. has a one year low of $119.15 and a one year high of $222.97. The company has a market capitalization 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 issued its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 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 analysts’ expectations of $1.44 billion. During the same period last year, the company posted $1.41 EPS. The business’s revenue was up 24.1% on a year-over-year basis. As a group, equities analysts predict that Garmin Ltd. will post 7.01 EPS 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.