Marshall Financial Group LLC Cuts Holdings in Garmin Ltd. (NYSE:GRMN)

Marshall Financial Group LLC lowered its holdings in Garmin Ltd. (NYSE:GRMN) by 3.6% in the 4th quarter, Holdings Channel reports. The firm owned 15,039 shares of the scientific and technical instruments company’s stock after selling 564 shares during the period. Garmin accounts for 0.8% of Marshall Financial Group LLC’s portfolio, making the stock its 26th biggest holding. Marshall Financial Group LLC’s holdings in Garmin were worth $3,102,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Public Sector Pension Investment Board lifted its stake in shares of 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 worth $975,000 after purchasing an additional 2,487 shares during the period. AXA S.A. raised its position in Garmin by 26.2% in the second quarter. AXA S.A. now owns 78,226 shares of the scientific and technical instruments company’s stock worth $12,745,000 after acquiring an additional 16,237 shares during the period. APG Asset Management N.V. boosted its stake in shares of Garmin by 15.2% during the 2nd quarter. APG Asset Management N.V. now owns 236,603 shares of the scientific and technical instruments company’s stock worth $35,967,000 after acquiring an additional 31,300 shares during the last quarter. MBB Public Markets I LLC bought a new stake in shares of Garmin during the 2nd quarter valued at $1,591,000. Finally, Scientech Research LLC purchased a new stake in shares of Garmin in the 2nd quarter worth $337,000. 81.60% of the stock is owned by institutional investors.

Garmin Stock Down 0.6 %

NYSE GRMN opened at $214.37 on Friday. Garmin Ltd. has a twelve month low of $119.15 and a twelve month high of $222.97. The business has a 50-day moving average price of $211.85 and a 200-day moving average price of $189.01. The firm has a market cap of $41.16 billion, a price-to-earnings ratio of 27.20, a price-to-earnings-growth ratio of 1.31 and a beta of 0.98.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share 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 business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the prior year, the company posted $1.41 EPS. The firm’s revenue for the quarter was up 24.1% compared to the same quarter last year. Research analysts expect that Garmin Ltd. will post 7.01 EPS for the current fiscal year.

Insider Buying and Selling at Garmin

In related news, Director Sean Biddlecombe sold 587 shares of the firm’s stock in a transaction 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 completion of 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Douglas G. Boessen sold 1,761 shares of the company’s stock in a transaction 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 approximately $5,743,019.88. The trade was a 6.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 19.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Tigress Financial boosted their price target on Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a report on Monday, December 16th. Barclays boosted 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 shares of Garmin from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $155.00 to $138.00 in a report on Monday, October 7th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus 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.