Garmin Ltd. (NYSE:GRMN) Shares Sold by Dynamic Advisor Solutions LLC

Dynamic Advisor Solutions LLC lessened its holdings in Garmin Ltd. (NYSE:GRMN) by 3.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,817 shares of the scientific and technical instruments company’s stock after selling 129 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Garmin were worth $787,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of Garmin by 40.8% in the 3rd quarter. FMR LLC now owns 3,775,154 shares of the scientific and technical instruments company’s stock valued at $664,540,000 after buying an additional 1,093,219 shares during the period. Montrusco Bolton Investments Inc. bought a new position in Garmin in the third quarter worth about $53,252,000. Jacobs Levy Equity Management Inc. boosted its stake in Garmin by 1,580.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 287,283 shares of the scientific and technical instruments company’s stock valued at $50,570,000 after acquiring an additional 270,186 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in shares of Garmin by 123.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 486,281 shares of the scientific and technical instruments company’s stock valued at $85,600,000 after purchasing an additional 268,996 shares during the last quarter. Finally, Wedge Capital Management L L P NC acquired a new stake in shares of Garmin during the 3rd quarter worth approximately $45,501,000. Institutional investors own 81.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on GRMN shares. Tigress Financial increased their target price on Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research report on Monday, December 16th. Morgan Stanley cut shares of Garmin from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $155.00 to $138.00 in a report on Monday, October 7th. Finally, Barclays boosted 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 analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $171.00.

Insider Activity at Garmin

In other 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 completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Douglas G. Boessen sold 1,761 shares of Garmin 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 transaction, the chief financial officer now owns 27,612 shares in the company, valued at $5,743,019.88. The trade was a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 19.54% of the company’s stock.

Garmin Trading Down 0.6 %

Garmin stock opened at $214.37 on Monday. Garmin Ltd. has a 52 week low of $119.15 and a 52 week high of $222.97. The stock has a market cap of $41.16 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 1.31 and a beta of 0.98. The company’s 50-day moving average price is $211.85 and its two-hundred day moving average price is $189.20.

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