Curbstone Financial Management Corp Has $802,000 Stake in Garmin Ltd. (NYSE:GRMN)

Curbstone Financial Management Corp increased its position in Garmin Ltd. (NYSE:GRMN) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,886 shares of the scientific and technical instruments company’s stock after buying an additional 50 shares during the period. Curbstone Financial Management Corp’s holdings in Garmin were worth $802,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Citigroup Inc. lifted its position in shares of Garmin by 123.2% in the third quarter. Citigroup Inc. now owns 283,412 shares of the scientific and technical instruments company’s stock worth $49,889,000 after buying an additional 156,441 shares during the last quarter. Algert Global LLC acquired a new stake in Garmin in the 2nd quarter worth approximately $508,000. Dynamic Advisor Solutions LLC bought a new stake in Garmin during the third quarter worth approximately $695,000. Trajan Wealth LLC grew its holdings in Garmin by 9.1% during the third quarter. Trajan Wealth LLC now owns 82,362 shares of the scientific and technical instruments company’s stock valued at $14,498,000 after purchasing an additional 6,878 shares during the last quarter. Finally, Passumpsic Savings Bank bought a new position in shares of Garmin in the third quarter valued at approximately $3,137,000. Institutional investors own 81.60% of the company’s stock.

Insider Buying and Selling at Garmin

In other news, CFO Douglas G. Boessen sold 1,761 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $207.99, for a total value of $366,270.39. Following the completion of the transaction, the chief financial officer now directly owns 27,612 shares of the company’s stock, valued at approximately $5,743,019.88. This represents a 6.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Sean Biddlecombe sold 587 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $210.10, for a total value of $123,328.70. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders own 19.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Tigress Financial raised their target price on shares of Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a research note on Monday, December 16th. Barclays raised 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. Finally, Morgan Stanley downgraded Garmin from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $155.00 to $138.00 in a research note on Monday, October 7th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $171.00.

Garmin Stock Performance

NYSE GRMN opened at $214.90 on Tuesday. Garmin Ltd. has a twelve month low of $119.15 and a twelve month high of $222.97. The stock has a market cap of $41.26 billion, a PE ratio of 27.27, a PEG ratio of 1.31 and a beta of 0.98. The firm has a 50-day simple moving average of $211.85 and a 200 day simple moving average of $189.38.

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

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.