Garmin Ltd. (NYSE:GRMN) Shares Sold by Baader Bank Aktiengesellschaft

Baader Bank Aktiengesellschaft lowered its position in shares of Garmin Ltd. (NYSE:GRMN) by 21.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,560 shares of the scientific and technical instruments company’s stock after selling 990 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in Garmin were worth $734,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. State Street Corp raised 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 purchasing an additional 134,303 shares during the last quarter. Geode Capital Management LLC raised its position in Garmin by 2.7% during 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 buying an additional 112,815 shares during the last quarter. FMR LLC lifted its stake 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 valued at $664,540,000 after acquiring an additional 1,093,219 shares during the period. Disciplined Growth Investors Inc. MN boosted its holdings in shares of Garmin by 3.6% in the 3rd 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 last quarter. Finally, Captrust Financial Advisors increased its stake 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 worth $135,143,000 after acquiring an additional 30,011 shares during the period. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Morgan Stanley downgraded shares of 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 report on Monday, October 7th. Tigress Financial upped their target price on 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 lifted 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. Three 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 stock. According to data from MarketBeat.com, Garmin currently has a consensus rating of “Hold” and a consensus target price of $171.00.

Garmin Stock Up 1.3 %

NYSE:GRMN opened at $217.02 on Friday. The stock has a market capitalization of $41.67 billion, a PE ratio of 27.54, a price-to-earnings-growth ratio of 1.31 and a beta of 0.98. Garmin Ltd. has a 52 week low of $119.15 and a 52 week high of $222.97. The stock’s 50-day moving average price is $212.35 and its 200-day moving average price is $190.24.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.53. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the previous year, the business earned $1.41 earnings per share. The business’s revenue was up 24.1% compared to the same quarter last year. Sell-side analysts expect that Garmin Ltd. will post 7.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Sean Biddlecombe sold 587 shares of the business’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 transaction of $123,328.70. Following the completion of the sale, the director now directly owns 6,147 shares in the company, valued at approximately $1,291,484.70. The trade was a 8.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Douglas G. Boessen sold 1,761 shares of the stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. 19.54% of the stock is owned by insiders.

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.