Garmin Ltd. (NYSE:GRMN) Shares Sold by Focus Partners Advisor Solutions LLC

Focus Partners Advisor Solutions LLC trimmed its position in shares of Garmin Ltd. (NYSE:GRMN) by 6.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,218 shares of the scientific and technical instruments company’s stock after selling 86 shares during the period. Focus Partners Advisor Solutions LLC’s holdings in Garmin were worth $251,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new stake in Garmin during the 4th quarter valued at $26,000. Aster Capital Management DIFC Ltd boosted its stake in Garmin by 864.3% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company’s stock valued at $28,000 after acquiring an additional 121 shares during the last quarter. SOA Wealth Advisors LLC. bought a new position in Garmin during the 4th quarter valued at $37,000. Kentucky Trust Co bought a new position in Garmin during the 4th quarter valued at $41,000. Finally, Venturi Wealth Management LLC boosted its stake in Garmin by 67.7% during the 4th quarter. Venturi Wealth Management LLC now owns 208 shares of the scientific and technical instruments company’s stock valued at $43,000 after acquiring an additional 84 shares during the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Tigress Financial increased their price objective on shares of Garmin from $265.00 to $285.00 and gave the company a “strong-buy” rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. reduced their price objective on shares of Garmin from $220.00 to $215.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Barclays reduced their price objective on shares of Garmin from $188.00 to $152.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 30th. Finally, Morgan Stanley increased their price objective on shares of Garmin from $159.00 to $172.00 and gave the company an “underweight” rating in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $206.00.

Garmin Stock Performance

Garmin stock opened at $200.52 on Monday. The firm’s 50-day moving average is $197.48 and its 200-day moving average is $208.51. Garmin Ltd. has a 1 year low of $158.38 and a 1 year high of $246.50. The company has a market cap of $38.61 billion, a P/E ratio of 27.43, a PEG ratio of 1.36 and a beta of 0.99.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.01). Garmin had a return on equity of 19.31% and a net margin of 22.42%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the business posted $1.42 earnings per share. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, sell-side analysts predict that Garmin Ltd. will post 7.8 earnings per share for the current year.

Insider Transactions at Garmin

In related news, VP Susan Lyman sold 2,829 shares of Garmin stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $215.51, for a total value of $609,677.79. Following the sale, the vice president now directly owns 8,432 shares in the company, valued at $1,817,180.32. This trade represents a 25.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Patrick Desbois sold 6,911 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $227.15, for a total transaction of $1,569,833.65. Following the transaction, the chief operating officer now directly owns 63,048 shares in the company, valued at approximately $14,321,353.20. The trade was a 9.88% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,342 shares of company stock worth $5,486,094. 15.38% of the stock is currently owned by insiders.

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.