FSM Wealth Advisors LLC Trims Holdings in Garmin Ltd. (NYSE:GRMN)

FSM Wealth Advisors LLC reduced its stake in shares of Garmin Ltd. (NYSE:GRMN) by 16.6% in the 4th quarter, Holdings Channel reports. The fund owned 1,425 shares of the scientific and technical instruments company’s stock after selling 283 shares during the period. FSM Wealth Advisors LLC’s holdings in Garmin were worth $306,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the business. Baskin Financial Services Inc. grew its holdings in Garmin by 3.2% in the fourth quarter. Baskin Financial Services Inc. now owns 148,957 shares of the scientific and technical instruments company’s stock valued at $30,724,000 after purchasing an additional 4,616 shares during the period. U.S. Capital Wealth Advisors LLC acquired a new stake in shares of Garmin in the fourth quarter worth approximately $7,482,000. Greenleaf Trust boosted its stake in shares of Garmin by 3.0% in the fourth quarter. Greenleaf Trust now owns 3,897 shares of the scientific and technical instruments company’s stock worth $804,000 after acquiring an additional 114 shares during the last quarter. SYM FINANCIAL Corp acquired a new stake in shares of Garmin in the fourth quarter worth approximately $239,000. Finally, Chicago Partners Investment Group LLC acquired a new stake in shares of Garmin in the fourth quarter worth approximately $234,000. 81.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Garmin

In related news, CFO Douglas G. Boessen sold 1,761 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $207.99, for a total value 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. The trade was a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sean Biddlecombe sold 587 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were 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 in the company, valued at $1,291,484.70. The trade was a 8.72 % decrease in their position. The disclosure for this sale can be found here. 19.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GRMN shares. Morgan Stanley lowered Garmin from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $155.00 to $138.00 in a research note on Monday, October 7th. Barclays boosted their price objective on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research note on Friday, November 1st. Finally, Tigress Financial boosted their price objective on 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 assigned a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $171.00.

Garmin Stock Performance

Shares of NYSE:GRMN opened at $215.58 on Monday. The business’s fifty day moving average price is $212.61 and its two-hundred day moving average price is $190.86. The stock has a market cap of $41.40 billion, a PE ratio of 27.36, a price-to-earnings-growth ratio of 1.30 and a beta of 0.98. Garmin Ltd. has a one year low of $119.15 and a one year high of $222.97.

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.