Green Alpha Advisors LLC Cuts Holdings in Garmin Ltd. (NYSE:GRMN)

Green Alpha Advisors LLC reduced its position in shares of Garmin Ltd. (NYSE:GRMN) by 5.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,751 shares of the scientific and technical instruments company’s stock after selling 398 shares during the quarter. Garmin accounts for approximately 1.1% of Green Alpha Advisors LLC’s investment portfolio, making the stock its 28th biggest holding. Green Alpha Advisors LLC’s holdings in Garmin were worth $1,392,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. University of Texas Texas AM Investment Management Co. purchased a new position in Garmin during the second quarter worth approximately $31,000. Larson Financial Group LLC raised its stake in shares of Garmin by 578.6% during the 3rd quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock worth $33,000 after buying an additional 162 shares during the period. Benjamin Edwards Inc. raised its stake in shares of Garmin by 73.3% during the 2nd quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock worth $38,000 after buying an additional 99 shares during the period. Itau Unibanco Holding S.A. purchased a new position in shares of Garmin during the 3rd quarter valued at approximately $39,000. Finally, Headlands Technologies LLC acquired a new stake in Garmin in the 2nd quarter valued at $46,000. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Sean Biddlecombe sold 587 shares of the 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 completion of the sale, the director now owns 6,147 shares of the company’s stock, valued at $1,291,484.70. This represents a 8.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Douglas G. Boessen sold 1,761 shares of Garmin stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $207.99, for a total transaction of $366,270.39. Following the sale, the chief financial officer now directly owns 27,612 shares in the company, valued at approximately $5,743,019.88. The trade was a 6.00 % decrease in their position. The disclosure for this sale can be found here. 19.54% of the stock is currently owned by company insiders.

Garmin Trading Down 1.1 %

NYSE:GRMN opened at $209.15 on Monday. The company has a market cap of $40.16 billion, a P/E ratio of 26.54, a P/E/G ratio of 1.42 and a beta of 0.98. Garmin Ltd. has a twelve month low of $119.15 and a twelve month high of $222.97. The company’s 50-day moving average price is $210.93 and its 200-day moving average price is $185.69.

Garmin (NYSE:GRMN) last released 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. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. Garmin’s quarterly revenue was up 24.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.41 EPS. On average, analysts expect that Garmin Ltd. will post 7.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GRMN. Morgan Stanley cut shares of Garmin from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $155.00 to $138.00 in a research report on Monday, October 7th. Barclays upped their price target on shares of Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research report on Friday, November 1st. Finally, Tigress Financial lifted their price objective on Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a report on Monday, December 16th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Garmin has a consensus rating of “Hold” and an average 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.