First Affirmative Financial Network Has $214,000 Stake in Garmin Ltd. (NYSE:GRMN)

First Affirmative Financial Network reduced its stake in Garmin Ltd. (NYSE:GRMN) by 17.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,036 shares of the scientific and technical instruments company’s stock after selling 226 shares during the quarter. First Affirmative Financial Network’s holdings in Garmin were worth $214,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. State Street Corp lifted its stake in shares of Garmin by 2.0% in the third quarter. State Street Corp now owns 6,912,536 shares of the scientific and technical instruments company’s stock worth $1,216,819,000 after buying an additional 134,303 shares during the last quarter. Geode Capital Management LLC raised its holdings in Garmin by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,363,464 shares of the scientific and technical instruments company’s stock worth $765,912,000 after acquiring an additional 112,815 shares during the period. FMR LLC lifted its position in Garmin by 40.8% during the 3rd quarter. FMR LLC now owns 3,775,154 shares of the scientific and technical instruments company’s stock worth $664,540,000 after acquiring an additional 1,093,219 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its holdings in Garmin by 3.6% during the third quarter. Disciplined Growth Investors Inc. MN now owns 1,401,004 shares of the scientific and technical instruments company’s stock valued at $246,619,000 after acquiring an additional 48,645 shares during the period. Finally, Captrust Financial Advisors grew its position in shares of Garmin by 4.1% in the third quarter. Captrust Financial Advisors now owns 767,729 shares of the scientific and technical instruments company’s stock valued at $135,143,000 after purchasing an additional 30,011 shares during the last quarter. Institutional investors own 81.60% of the company’s stock.

Insider Activity

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

Garmin Trading Up 1.3 %

Shares of NYSE:GRMN opened at $217.02 on Friday. The firm has a market capitalization of $41.67 billion, a PE ratio of 27.54, a PEG ratio of 1.31 and a beta of 0.98. Garmin Ltd. has a 1-year low of $119.15 and a 1-year high of $222.97. The business’s 50 day moving average is $212.35 and its 200-day moving average is $190.24.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.53. The firm 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 in the previous year, the firm posted $1.41 EPS. On average, sell-side analysts predict that Garmin Ltd. will post 7.01 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on GRMN shares. 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. 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. Finally, Barclays boosted 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. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.