SG Americas Securities LLC Sells 33,591 Shares of Garmin Ltd. (NYSE:GRMN)

SG Americas Securities LLC trimmed its position in Garmin Ltd. (NYSE:GRMN) by 21.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 125,276 shares of the scientific and technical instruments company’s stock after selling 33,591 shares during the quarter. SG Americas Securities LLC owned approximately 0.07% of Garmin worth $25,839,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of GRMN. Blair William & Co. IL grew its stake in Garmin by 13.1% in the 2nd quarter. Blair William & Co. IL now owns 5,592 shares of the scientific and technical instruments company’s stock valued at $911,000 after buying an additional 649 shares during the last quarter. ProShare Advisors LLC grew its stake in Garmin by 9.4% in the 2nd quarter. ProShare Advisors LLC now owns 29,886 shares of the scientific and technical instruments company’s stock valued at $4,869,000 after buying an additional 2,579 shares during the last quarter. Public Sector Pension Investment Board grew its stake in Garmin by 71.2% in the 2nd quarter. Public Sector Pension Investment Board now owns 5,982 shares of the scientific and technical instruments company’s stock valued at $975,000 after buying an additional 2,487 shares during the last quarter. Evergreen Capital Management LLC grew its stake in Garmin by 2.1% in the 2nd quarter. Evergreen Capital Management LLC now owns 6,948 shares of the scientific and technical instruments company’s stock valued at $1,132,000 after buying an additional 146 shares during the last quarter. Finally, Bank of Montreal Can grew its stake in Garmin by 4.2% in the 2nd quarter. Bank of Montreal Can now owns 277,467 shares of the scientific and technical instruments company’s stock valued at $45,330,000 after buying an additional 11,142 shares during the last quarter. 81.60% of the stock is owned by institutional investors.

Insider Activity at Garmin

In other Garmin news, Director Sean Biddlecombe sold 587 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $210.10, for a total value of $123,328.70. Following the sale, the director now owns 6,147 shares in the company, valued at $1,291,484.70. This trade represents a 8.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Douglas G. Boessen sold 1,761 shares of the firm’s 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 completion of the sale, the chief financial officer now owns 27,612 shares in the company, valued at $5,743,019.88. This represents a 6.00 % decrease in their position. The disclosure for this sale can be found here. 19.54% of the stock is currently owned by insiders.

Garmin Price Performance

Shares of NYSE:GRMN opened at $216.18 on Thursday. The company’s 50 day simple moving average is $211.58 and its 200 day simple moving average is $188.26. The stock has a market capitalization of $41.51 billion, a price-to-earnings ratio of 27.43, a price-to-earnings-growth ratio of 1.32 and a beta of 0.98. Garmin Ltd. has a 1 year low of $119.15 and a 1 year high of $222.97.

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

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. 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 note on Friday, November 1st. Morgan Stanley lowered shares of Garmin from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $155.00 to $138.00 in a research report on Monday, October 7th. Finally, Tigress Financial increased their target price on shares of Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research report on Monday, December 16th. 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $171.00.

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.