Garmin Ltd. (NYSE:GRMN) Holdings Lowered by Parcion Private Wealth LLC

Parcion Private Wealth LLC lessened its stake in shares of Garmin Ltd. (NYSE:GRMN) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,183 shares of the scientific and technical instruments company’s stock after selling 1,132 shares during the quarter. Parcion Private Wealth LLC’s holdings in Garmin were worth $7,463,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Meitav Investment House Ltd. acquired a new stake in Garmin during the fourth quarter valued at approximately $653,000. Handelsbanken Fonder AB increased its holdings in shares of Garmin by 28.9% in the fourth quarter. Handelsbanken Fonder AB now owns 118,591 shares of the scientific and technical instruments company’s stock valued at $24,461,000 after buying an additional 26,555 shares in the last quarter. Ieq Capital LLC lifted its position in shares of Garmin by 628.5% during the 4th quarter. Ieq Capital LLC now owns 33,928 shares of the scientific and technical instruments company’s stock valued at $6,998,000 after acquiring an additional 29,271 shares during the last quarter. Bryn Mawr Capital Management LLC boosted its stake in shares of Garmin by 622.9% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 11,191 shares of the scientific and technical instruments company’s stock worth $2,308,000 after acquiring an additional 9,643 shares in the last quarter. Finally, Global Retirement Partners LLC grew its holdings in shares of Garmin by 79.0% in the 4th quarter. Global Retirement Partners LLC now owns 940 shares of the scientific and technical instruments company’s stock worth $194,000 after acquiring an additional 415 shares during the last quarter. 81.60% of the stock is owned by institutional investors.

Insider Activity at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 1,761 shares of the business’s stock in a transaction dated 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 owns 27,612 shares of the company’s stock, valued at $5,743,019.88. The trade was a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 19.54% of the stock is owned by company insiders.

Garmin Price Performance

Shares of GRMN stock opened at $243.13 on Thursday. Garmin Ltd. has a fifty-two week low of $121.20 and a fifty-two week high of $246.50. The stock’s 50-day moving average is $212.99 and its two-hundred day moving average is $194.84. The firm has a market cap of $46.69 billion, a P/E ratio of 30.85, a PEG ratio of 1.28 and a beta of 0.98.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 EPS for the quarter, beating the consensus estimate of $1.90 by $0.51. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.72 EPS. As a group, research analysts expect that Garmin Ltd. will post 7.09 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GRMN shares. Tigress Financial upped their target price on Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a report on Monday, December 16th. JPMorgan Chase & Co. raised shares of Garmin to a “neutral” rating and lifted their target price for the stock from $212.00 to $219.00 in a research report on Friday, February 14th. Barclays upped their price target on shares of Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research report on Friday, November 1st. Finally, Morgan Stanley upgraded Garmin to a “sell” rating and lifted their price target for the company from $164.00 to $171.00 in a report on Tuesday, February 11th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $183.83.

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.