Cooper Financial Group Sells 120 Shares of Garmin Ltd. (NYSE:GRMN)

Cooper Financial Group trimmed its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 9.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,131 shares of the scientific and technical instruments company’s stock after selling 120 shares during the quarter. Cooper Financial Group’s holdings in Garmin were worth $233,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Private Advisor Group LLC grew its position in shares of Garmin by 6.1% during the 2nd quarter. Private Advisor Group LLC now owns 4,231 shares of the scientific and technical instruments company’s stock valued at $690,000 after acquiring an additional 244 shares during the period. Choreo LLC purchased a new position in Garmin during the second quarter valued at $415,000. Headlands Technologies LLC bought a new stake in Garmin during the second quarter valued at about $46,000. American Century Companies Inc. increased its position in Garmin by 5.9% in the second quarter. American Century Companies Inc. now owns 47,349 shares of the scientific and technical instruments company’s stock worth $7,714,000 after buying an additional 2,651 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in shares of Garmin by 4.3% in the second quarter. Parallel Advisors LLC now owns 4,777 shares of the scientific and technical instruments company’s stock worth $778,000 after buying an additional 197 shares during the period. 81.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GRMN has been the subject of a number of recent research reports. Tigress Financial boosted their price objective on Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a research note on Monday, December 16th. 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 note on Monday, October 7th. Finally, Barclays lifted 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. Three equities 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 company currently has a consensus rating of “Hold” and an average target price of $171.00.

Insider Buying and Selling

In other Garmin news, CFO Douglas G. Boessen sold 1,761 shares of the stock in a transaction 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 in the company, valued at $5,743,019.88. This trade represents a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sean Biddlecombe sold 587 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $210.10, for a total transaction of $123,328.70. Following the completion of the sale, the director now owns 6,147 shares in the company, valued at approximately $1,291,484.70. This trade represents a 8.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 19.54% of the stock is owned by company insiders.

Garmin Price Performance

Garmin stock opened at $211.73 on Wednesday. The firm’s 50 day moving average price is $211.24 and its 200-day moving average price is $186.36. Garmin Ltd. has a 1 year low of $119.15 and a 1 year high of $222.97. The stock has a market cap of $40.66 billion, a P/E ratio of 26.87, a PEG ratio of 1.42 and a beta of 0.98.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) 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 company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the previous year, the firm posted $1.41 EPS. Garmin’s revenue for the quarter was up 24.1% compared to the same quarter last year. As a group, equities analysts expect that Garmin Ltd. will post 7.01 EPS for the current year.

About Garmin

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.