Valicenti Advisory Services Inc. Reduces Position in Garmin Ltd. (NYSE:GRMN)

Valicenti Advisory Services Inc. reduced its position in shares of Garmin Ltd. (NYSE:GRMN) by 0.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 14,674 shares of the scientific and technical instruments company’s stock after selling 140 shares during the period. Valicenti Advisory Services Inc.’s holdings in Garmin were worth $3,027,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. State Street Corp lifted its position in shares of Garmin by 2.0% during the 3rd quarter. State Street Corp now owns 6,912,536 shares of the scientific and technical instruments company’s stock worth $1,216,819,000 after buying an additional 134,303 shares during the last quarter. Geode Capital Management LLC raised its stake in Garmin by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,363,464 shares of the scientific and technical instruments company’s stock worth $765,912,000 after acquiring an additional 112,815 shares in the last quarter. FMR LLC lifted its position in Garmin by 40.8% in the third quarter. FMR LLC now owns 3,775,154 shares of the scientific and technical instruments company’s stock valued at $664,540,000 after acquiring an additional 1,093,219 shares during the last quarter. Disciplined Growth Investors Inc. MN lifted its position in Garmin by 3.6% in the third quarter. Disciplined Growth Investors Inc. MN now owns 1,401,004 shares of the scientific and technical instruments company’s stock valued at $246,619,000 after acquiring an additional 48,645 shares during the last quarter. Finally, Captrust Financial Advisors boosted its stake in Garmin by 4.1% in the third quarter. Captrust Financial Advisors now owns 767,729 shares of the scientific and technical instruments company’s stock valued at $135,143,000 after acquiring an additional 30,011 shares in the last quarter. 81.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Garmin

In other Garmin news, Director Sean Biddlecombe sold 587 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $210.10, for a total transaction of $123,328.70. Following the sale, the director now owns 6,147 shares in the company, valued at approximately $1,291,484.70. This represents a 8.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value 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 owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on GRMN shares. Morgan Stanley downgraded Garmin from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $155.00 to $138.00 in a report on Monday, October 7th. Barclays boosted their price objective on 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 target price 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. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $171.00.

Garmin Stock Down 0.4 %

Shares of NYSE GRMN opened at $216.85 on Wednesday. The firm has a 50-day moving average price of $211.97 and a 200 day moving average price of $189.72. Garmin Ltd. has a 52 week low of $119.15 and a 52 week high of $222.97. The stock has a market capitalization of $41.64 billion, a price-to-earnings ratio of 27.52, a price-to-earnings-growth ratio of 1.31 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 for the quarter, beating analysts’ consensus estimates of $1.46 by $0.53. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter last year, the business posted $1.41 earnings per share. The business’s revenue for the quarter was up 24.1% on a year-over-year basis. Equities research analysts expect that Garmin Ltd. will post 7.01 EPS for the current fiscal year.

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.