Garmin Ltd. (NYSE:GRMN) Shares Sold by Dakota Wealth Management

Dakota Wealth Management trimmed its holdings in Garmin Ltd. (NYSE:GRMN) by 9.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,279 shares of the scientific and technical instruments company’s stock after selling 792 shares during the period. Dakota Wealth Management’s holdings in Garmin were worth $1,501,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Barlow Wealth Partners Inc. boosted its stake in Garmin by 3.3% in the 4th quarter. Barlow Wealth Partners Inc. now owns 71,602 shares of the scientific and technical instruments company’s stock worth $15,284,000 after buying an additional 2,255 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Garmin by 30.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 41,791 shares of the scientific and technical instruments company’s stock worth $8,620,000 after buying an additional 9,674 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Garmin by 8.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 804 shares of the scientific and technical instruments company’s stock worth $166,000 after buying an additional 63 shares during the last quarter. UMB Bank n.a. boosted its stake in Garmin by 5.8% in the 4th quarter. UMB Bank n.a. now owns 3,598 shares of the scientific and technical instruments company’s stock worth $742,000 after buying an additional 196 shares during the last quarter. Finally, Strong Tower Advisory Services boosted its stake in Garmin by 1.1% in the 4th quarter. Strong Tower Advisory Services now owns 14,535 shares of the scientific and technical instruments company’s stock worth $2,998,000 after buying an additional 152 shares during the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

Garmin Stock Down 0.3 %

GRMN stock opened at $215.65 on Friday. Garmin Ltd. has a 52-week low of $119.15 and a 52-week high of $222.97. The stock’s 50 day moving average is $211.65 and its two-hundred day moving average is $188.46. The company has a market capitalization of $41.41 billion, a PE ratio of 27.37, a P/E/G ratio of 1.32 and a beta of 0.98.

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

Insider Activity

In other news, CFO Douglas G. Boessen sold 1,761 shares of the business’s stock in a transaction that occurred on 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 directly owns 27,612 shares in the company, valued at approximately $5,743,019.88. The trade was a 6.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sean Biddlecombe sold 587 shares of the business’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 transaction, the director now owns 6,147 shares of the company’s stock, valued at $1,291,484.70. This represents a 8.72 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 19.54% of the company’s stock.

Wall Street Analysts Forecast Growth

GRMN has been the topic of several research analyst reports. Tigress Financial lifted their price objective on Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a research note on Monday, December 16th. Barclays lifted their price objective on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research note on Friday, November 1st. Finally, Morgan Stanley lowered Garmin from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $155.00 to $138.00 in a research note on Monday, October 7th. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $171.00.

About Garmin

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.