Albert D Mason Inc. Sells 84 Shares of Garmin Ltd. (NYSE:GRMN)

Albert D Mason Inc. decreased its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 0.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,551 shares of the scientific and technical instruments company’s stock after selling 84 shares during the period. Albert D Mason Inc.’s holdings in Garmin were worth $1,681,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Select Equity Group L.P. boosted its holdings in Garmin by 0.6% in the second quarter. Select Equity Group L.P. now owns 2,006,563 shares of the scientific and technical instruments company’s stock worth $326,909,000 after acquiring an additional 11,666 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Garmin by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,735,623 shares of the scientific and technical instruments company’s stock worth $282,761,000 after acquiring an additional 13,968 shares in the last quarter. Boston Partners boosted its holdings in Garmin by 4.3% in the first quarter. Boston Partners now owns 1,416,130 shares of the scientific and technical instruments company’s stock worth $210,799,000 after acquiring an additional 58,343 shares in the last quarter. Marshall Wace LLP boosted its holdings in Garmin by 34.0% in the second quarter. Marshall Wace LLP now owns 1,098,443 shares of the scientific and technical instruments company’s stock worth $178,958,000 after acquiring an additional 278,990 shares in the last quarter. Finally, Captrust Financial Advisors boosted its holdings in Garmin by 20.2% in the first quarter. Captrust Financial Advisors now owns 839,537 shares of the scientific and technical instruments company’s stock worth $124,982,000 after acquiring an additional 141,001 shares in the last quarter. Institutional investors own 73.41% of the company’s stock.

Garmin Trading Down 2.1 %

Shares of GRMN opened at $162.96 on Wednesday. The company has a market capitalization of $31.30 billion, a price-to-earnings ratio of 22.98, a PEG ratio of 2.85 and a beta of 0.99. The stock has a 50 day moving average of $173.85 and a 200 day moving average of $166.14. Garmin Ltd. has a 12 month low of $99.61 and a 12 month high of $184.42.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.18. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.42 billion. Garmin had a return on equity of 17.09% and a net margin of 24.36%. Garmin’s revenue was up 14.3% on a year-over-year basis. During the same period last year, the business posted $1.45 earnings per share. As a group, equities research analysts predict that Garmin Ltd. will post 6.08 earnings per share for the current year.

Insider Activity at Garmin

In related news, insider Cheng-Wei Wang sold 10,055 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the completion of the sale, the insider now directly owns 40,965 shares of the company’s stock, valued at approximately $7,257,359.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Garmin news, Director Philip Straub sold 2,750 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $181.46, for a total value of $499,015.00. Following the completion of the sale, the director now directly owns 88,622 shares of the company’s stock, valued at $16,081,348.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Cheng-Wei Wang sold 10,055 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total value of $1,781,343.80. Following the completion of the sale, the insider now directly owns 40,965 shares of the company’s stock, valued at $7,257,359.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,892 shares of company stock valued at $2,296,174. 19.54% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on GRMN shares. Tigress Financial increased their price target on Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 19th. Morgan Stanley downgraded Garmin from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $155.00 to $138.00 in a research note on Monday, October 7th. StockNews.com downgraded Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Finally, Barclays downgraded Garmin from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $181.00 to $133.00 in a research note on Friday, September 13th. Three investment 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $158.50.

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.