Bleakley Financial Group LLC Sells 2,352 Shares of Garmin Ltd. (NYSE:GRMN)

Bleakley Financial Group LLC cut its holdings in Garmin Ltd. (NYSE:GRMN) by 51.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,248 shares of the scientific and technical instruments company’s stock after selling 2,352 shares during the period. Bleakley Financial Group LLC’s holdings in Garmin were worth $464,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pinnacle Bancorp Inc. bought a new position in Garmin in the fourth quarter valued at approximately $29,000. Larson Financial Group LLC boosted its stake 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 valued at $33,000 after acquiring an additional 162 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in Garmin in the third quarter valued at approximately $39,000. Hager Investment Management Services LLC bought a new position in Garmin in the fourth quarter valued at approximately $52,000. Finally, Capital Performance Advisors LLP bought a new position in Garmin in the third quarter valued at approximately $59,000. 81.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Tigress Financial lifted their price target on shares of Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research report on Monday, December 16th. Barclays lifted 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. 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. According to data from MarketBeat, Garmin presently has an average rating of “Hold” and a consensus target price of $171.00.

Insider Activity at Garmin

In related news, CFO Douglas G. Boessen sold 1,761 shares of the business’s stock in a transaction 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 sale, the chief financial officer now directly owns 27,612 shares of the company’s stock, valued at approximately $5,743,019.88. The trade was a 6.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 19.54% of the stock is currently owned by insiders.

Garmin Trading Down 1.0 %

GRMN opened at $215.58 on Tuesday. The stock has a market capitalization of $41.40 billion, a P/E ratio of 27.36, a P/E/G ratio of 1.33 and a beta of 0.98. Garmin Ltd. has a 12 month low of $120.06 and a 12 month high of $223.33. The firm’s fifty day simple moving average is $213.12 and its 200 day simple moving average is $192.61.

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.