Garmin Ltd. (NYSE:GRMN) Shares Sold by Sound Stewardship LLC

Sound Stewardship LLC trimmed its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 5.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,486 shares of the scientific and technical instruments company’s stock after selling 93 shares during the period. Sound Stewardship LLC’s holdings in Garmin were worth $262,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in GRMN. GHP Investment Advisors Inc. lifted its holdings in Garmin by 1.0% during the third quarter. GHP Investment Advisors Inc. now owns 66,230 shares of the scientific and technical instruments company’s stock valued at $11,658,000 after purchasing an additional 626 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Garmin by 96.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 23,021 shares of the scientific and technical instruments company’s stock valued at $4,052,000 after buying an additional 11,295 shares during the last quarter. Forsta AP Fonden raised its position in shares of Garmin by 9.5% in the third quarter. Forsta AP Fonden now owns 28,900 shares of the scientific and technical instruments company’s stock valued at $5,087,000 after buying an additional 2,500 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Garmin by 34.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,935 shares of the scientific and technical instruments company’s stock valued at $1,729,000 after buying an additional 2,547 shares during the last quarter. Finally, Parcion Private Wealth LLC raised its position in shares of Garmin by 1.0% in the third quarter. Parcion Private Wealth LLC now owns 37,315 shares of the scientific and technical instruments company’s stock valued at $6,569,000 after buying an additional 371 shares during the last quarter. 73.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Philip Straub sold 2,750 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $181.46, for a total transaction of $499,015.00. Following the completion of the transaction, the director now directly owns 88,622 shares in the company, valued at approximately $16,081,348.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Philip Straub sold 2,750 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $181.46, for a total transaction of $499,015.00. Following the sale, the director now directly owns 88,622 shares of the company’s stock, valued at approximately $16,081,348.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Cheng-Wei Wang sold 10,055 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total value of $1,781,343.80. Following the completion of the sale, the insider now directly owns 40,965 shares in the company, valued at $7,257,359.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,892 shares of company stock worth $2,296,174 in the last 90 days. 19.54% of the stock is owned by company insiders.

Garmin Price Performance

Shares of Garmin stock opened at $163.45 on Monday. The firm’s fifty day simple moving average is $173.31 and its 200-day simple moving average is $166.44. Garmin Ltd. has a 12 month low of $99.99 and a 12 month high of $184.42. The stock has a market capitalization of $31.40 billion, a price-to-earnings ratio of 22.89, a PEG ratio of 2.81 and a beta of 0.99.

Garmin (NYSE:GRMN) last released its quarterly earnings data on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.40 by $0.18. Garmin had a net margin of 24.36% and a return on equity of 17.09%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the previous year, the firm earned $1.45 EPS. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. Analysts anticipate that Garmin Ltd. will post 6.08 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on GRMN. Tigress Financial raised their price objective on shares of Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 19th. Barclays cut shares of Garmin from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $181.00 to $133.00 in a research report on Friday, September 13th. Morgan Stanley cut shares of Garmin from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $155.00 to $138.00 in a research report on Monday, October 7th. Finally, StockNews.com downgraded shares of Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $158.50.

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.