First Pacific Financial Sells 105 Shares of Garmin Ltd. (NYSE:GRMN)

First Pacific Financial reduced its holdings in Garmin Ltd. (NYSE:GRMN) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,550 shares of the scientific and technical instruments company’s stock after selling 105 shares during the period. First Pacific Financial’s holdings in Garmin were worth $1,557,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its stake in shares of Garmin by 5.9% during the 2nd quarter. American Century Companies Inc. now owns 47,349 shares of the scientific and technical instruments company’s stock worth $7,714,000 after purchasing an additional 2,651 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Garmin by 8.4% during the second quarter. Envestnet Asset Management Inc. now owns 163,517 shares of the scientific and technical instruments company’s stock worth $26,640,000 after buying an additional 12,616 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its position in Garmin by 6.2% during the second quarter. Mercer Global Advisors Inc. ADV now owns 56,263 shares of the scientific and technical instruments company’s stock worth $9,175,000 after acquiring an additional 3,280 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in Garmin by 24.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 19,334 shares of the scientific and technical instruments company’s stock worth $3,120,000 after acquiring an additional 3,759 shares in the last quarter. Finally, Blair William & Co. IL lifted its stake in Garmin by 13.1% in the second quarter. Blair William & Co. IL now owns 5,592 shares of the scientific and technical instruments company’s stock valued at $911,000 after acquiring an additional 649 shares during the last quarter. 81.60% of the stock is owned by institutional investors.

Insider Buying and Selling at Garmin

In other news, Director Sean Biddlecombe sold 587 shares of the firm’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 transaction of $123,328.70. Following the transaction, the director now directly owns 6,147 shares of the company’s stock, valued at approximately $1,291,484.70. This trade represents 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 this hyperlink. Also, CFO Douglas G. Boessen sold 1,761 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 27,612 shares of the company’s stock, valued at approximately $5,743,019.88. This trade represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 19.54% of the company’s stock.

Garmin Stock Performance

Shares of GRMN opened at $214.38 on Friday. The firm has a market cap of $41.16 billion, a P/E ratio of 27.21, a price-to-earnings-growth ratio of 1.26 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 firm’s 50-day simple moving average is $211.40 and its 200 day simple moving average is $186.74.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research note on Friday, November 1st. Morgan Stanley downgraded 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 report on Monday, October 7th. Finally, Tigress Financial raised their price objective on Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a research report on Monday, December 16th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $171.00.

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.