William Allan Corp Sells 9,507 Shares of Garmin Ltd. (NYSE:GRMN)

William Allan Corp reduced its stake in Garmin Ltd. (NYSE:GRMN) by 50.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,179 shares of the scientific and technical instruments company’s stock after selling 9,507 shares during the period. William Allan Corp’s holdings in Garmin were worth $1,893,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Pinnacle Bancorp Inc. bought a new stake in shares of Garmin during the 4th quarter valued at $29,000. Larson Financial Group LLC raised 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 purchasing an additional 162 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in Garmin during the third quarter worth about $39,000. Hager Investment Management Services LLC acquired a new stake in Garmin during the fourth quarter worth about $52,000. Finally, Capital Performance Advisors LLP bought a new position in Garmin in the 3rd quarter valued at about $59,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GRMN. Tigress Financial upped their price target on shares of Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a report on Monday, December 16th. Barclays upped their target price on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research note on Friday, November 1st. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Garmin has an average rating of “Hold” and an average price target of $171.00.

Garmin Price Performance

Shares of NYSE:GRMN opened at $219.77 on Friday. The firm has a 50 day simple moving average of $212.87 and a 200 day simple moving average of $191.82. The company has a market cap of $42.20 billion, a price-to-earnings ratio of 27.89, a PEG ratio of 1.30 and a beta of 0.98. Garmin Ltd. has a one year low of $120.06 and a one year high of $222.97.

Insider Activity

In related news, CFO Douglas G. Boessen sold 1,761 shares of Garmin stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $207.99, for a total transaction of $366,270.39. Following the sale, the chief financial officer now directly owns 27,612 shares in the company, valued at $5,743,019.88. This trade represents a 6.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 19.54% of the stock is owned by corporate insiders.

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.