Trust Co. of Vermont Has $103,000 Stake in Garmin Ltd. (NYSE:GRMN)

Trust Co. of Vermont trimmed its position in Garmin Ltd. (NYSE:GRMN) by 15.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 500 shares of the scientific and technical instruments company’s stock after selling 92 shares during the period. Trust Co. of Vermont’s holdings in Garmin were worth $103,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of GRMN. Pinnacle Bancorp Inc. bought a new stake in Garmin in the fourth quarter valued at about $29,000. University of Texas Texas AM Investment Management Co. bought a new position in Garmin during the 2nd quarter worth approximately $31,000. Larson Financial Group LLC grew its holdings in Garmin by 578.6% during 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 purchasing an additional 162 shares during the period. Itau Unibanco Holding S.A. bought a new stake in Garmin in the third quarter valued at approximately $39,000. Finally, Benjamin Edwards Inc. raised its holdings in Garmin by 73.3% in the second quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock worth $38,000 after purchasing an additional 99 shares during the period. Institutional investors and hedge funds own 81.60% of the company’s stock.

Insider Buying and Selling 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 stock was sold at an average price of $207.99, for a total value of $366,270.39. Following the completion of the sale, the chief financial officer now directly owns 27,612 shares in the company, valued at $5,743,019.88. The trade was a 6.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 value of $123,328.70. Following the transaction, the director now owns 6,147 shares in the company, valued at $1,291,484.70. The trade was a 8.72 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 19.54% of the company’s stock.

Wall Street Analyst Weigh In

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

Garmin Stock Performance

Shares of Garmin stock opened at $215.50 on Monday. Garmin Ltd. has a 52-week low of $119.15 and a 52-week high of $222.97. The business’s 50 day simple moving average is $211.45 and its 200 day simple moving average is $187.48. The firm has a market cap of $41.38 billion, a PE ratio of 27.35, a P/E/G ratio of 1.26 and a beta of 0.98.

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

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.