Garmin Ltd. (NYSE:GRMN) Shares Sold by Atwood & Palmer Inc.

Atwood & Palmer Inc. decreased its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 95,289 shares of the scientific and technical instruments company’s stock after selling 433 shares during the period. Atwood & Palmer Inc.’s holdings in Garmin were worth $19,654,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. American Century Companies Inc. boosted its holdings in Garmin by 5.9% during the second quarter. American Century Companies Inc. now owns 47,349 shares of the scientific and technical instruments company’s stock worth $7,714,000 after buying an additional 2,651 shares in the last quarter. Blair William & Co. IL lifted its position in shares of Garmin by 13.1% during the 2nd quarter. Blair William & Co. IL now owns 5,592 shares of the scientific and technical instruments company’s stock valued at $911,000 after acquiring an additional 649 shares during the last quarter. Brighton Jones LLC boosted its stake in shares of Garmin by 5.8% during the 2nd quarter. Brighton Jones LLC now owns 1,522 shares of the scientific and technical instruments company’s stock worth $248,000 after acquiring an additional 83 shares in the last quarter. Benjamin Edwards Inc. grew its holdings in shares of Garmin by 73.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock worth $38,000 after acquiring an additional 99 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of Garmin by 45.0% during the second quarter. Canada Pension Plan Investment Board now owns 82,292 shares of the scientific and technical instruments company’s stock worth $13,407,000 after purchasing an additional 25,557 shares during the period. Institutional investors and hedge funds own 81.60% of the company’s stock.

Garmin Price Performance

NYSE GRMN opened at $215.50 on Tuesday. The firm has a market capitalization of $41.38 billion, a price-to-earnings ratio of 27.35, a price-to-earnings-growth ratio of 1.30 and a beta of 0.98. The company has a 50 day simple moving average of $211.45 and a 200-day simple moving average of $187.48. Garmin Ltd. has a 52-week low of $119.15 and a 52-week high of $222.97.

Garmin (NYSE:GRMN) last released its 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 company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the firm earned $1.41 EPS. The company’s revenue was up 24.1% compared to the same quarter last year. On average, analysts predict that Garmin Ltd. will post 7.01 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on GRMN. Barclays increased their price target on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research report on Friday, November 1st. Morgan Stanley downgraded shares of Garmin from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $155.00 to $138.00 in a research report on Monday, October 7th. Finally, Tigress Financial raised their price objective 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. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $171.00.

Insider Activity at Garmin

In other news, CFO Douglas G. Boessen sold 1,761 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $207.99, for a total transaction of $366,270.39. Following the transaction, the chief financial officer now owns 27,612 shares in the company, valued at approximately $5,743,019.88. This trade represents a 6.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 sale, the director now 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. 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.