Greenfield Savings Bank Has $766,000 Position in Garmin Ltd. (NYSE:GRMN)

Greenfield Savings Bank cut its position in Garmin Ltd. (NYSE:GRMN) by 1.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,715 shares of the scientific and technical instruments company’s stock after selling 50 shares during the quarter. Greenfield Savings Bank’s holdings in Garmin were worth $766,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in GRMN. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Garmin during the 2nd quarter valued at approximately $31,000. Larson Financial Group LLC grew its holdings in shares of Garmin by 578.6% during the 3rd 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 last quarter. Benjamin Edwards Inc. grew its holdings in Garmin by 73.3% during the 2nd quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock worth $38,000 after acquiring an additional 99 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in Garmin during the 3rd quarter worth approximately $39,000. Finally, Headlands Technologies LLC bought a new stake in Garmin during the 2nd quarter worth approximately $46,000. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on GRMN shares. Tigress Financial boosted their target price 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 upped their price objective on shares of Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Finally, Morgan Stanley downgraded shares of 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 report on Monday, October 7th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $171.00.

Insider Activity at Garmin

In other Garmin news, Director Sean Biddlecombe sold 587 shares of Garmin stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $210.10, for a total transaction of $123,328.70. Following the transaction, the director now directly owns 6,147 shares of the company’s stock, valued at approximately $1,291,484.70. This trade represents a 8.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Douglas G. Boessen sold 1,761 shares of Garmin stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $207.99, for a total transaction of $366,270.39. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 19.54% of the stock is currently owned by insiders.

Garmin Stock Performance

GRMN opened at $208.13 on Tuesday. The firm has a market cap of $39.97 billion, a P/E ratio of 26.41, a PEG ratio of 1.42 and a beta of 0.98. The firm has a 50-day moving average of $211.09 and a 200 day moving average of $186.02. Garmin Ltd. has a fifty-two week low of $119.15 and a fifty-two week high of $222.97.

Garmin (NYSE:GRMN) last issued its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.53. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The company’s quarterly revenue was up 24.1% on a year-over-year basis. During the same quarter last year, the business earned $1.41 earnings per share. Equities research analysts predict 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.