Garmin Ltd. (NYSE:GRMN) Stock Position Lowered by Fulton Bank N.A.

Fulton Bank N.A. decreased its holdings in Garmin Ltd. (NYSE:GRMN) by 6.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,106 shares of the scientific and technical instruments company’s stock after selling 135 shares during the quarter. Fulton Bank N.A.’s holdings in Garmin were worth $434,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

GRMN has been the topic of a number of research analyst reports. Morgan Stanley lowered shares of Garmin from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $155.00 to $138.00 in a report on Monday, October 7th. Barclays upped their target price on shares of Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research note on Friday, November 1st. Finally, Tigress Financial raised their price target on Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research report on Monday, December 16th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $171.00.

Garmin Price Performance

Shares of NYSE:GRMN opened at $209.15 on Friday. Garmin Ltd. has a one year low of $119.15 and a one year high of $222.97. The company has a market cap of $40.16 billion, a price-to-earnings ratio of 26.54, a PEG ratio of 1.42 and a beta of 0.98. The firm has a 50 day simple moving average of $210.93 and a 200 day simple moving average of $185.35.

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

Insiders Place Their Bets

In other Garmin news, Director Sean Biddlecombe sold 587 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $210.10, for a total value of $123,328.70. Following the transaction, the director now directly owns 6,147 shares in the company, valued at $1,291,484.70. The trade was a 8.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 completion of the transaction, the chief financial officer now owns 27,612 shares of the company’s stock, valued at $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. Corporate insiders own 19.54% of the company’s stock.

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.