Crossmark Global Holdings Inc. Has $8 Million Holdings in Garmin Ltd. (NYSE:GRMN)

Crossmark Global Holdings Inc. decreased its position in shares of Garmin Ltd. (NYSE:GRMN) by 31.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,768 shares of the scientific and technical instruments company’s stock after selling 17,607 shares during the period. Crossmark Global Holdings Inc.’s holdings in Garmin were worth $7,996,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Pinnacle Bancorp Inc. acquired a new position in shares of Garmin during the 4th quarter worth about $29,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Garmin during the second quarter worth approximately $31,000. Larson Financial Group LLC boosted its position in shares of Garmin by 578.6% in the third quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock valued at $33,000 after acquiring an additional 162 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in shares of Garmin in the third quarter worth $39,000. Finally, Capital Performance Advisors LLP bought a new position in Garmin during the third quarter worth $59,000. 81.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Garmin

In other news, 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 of the company’s stock, valued at approximately $5,743,019.88. This trade represents a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sean Biddlecombe sold 587 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was 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 in the company, valued at $1,291,484.70. The trade was a 8.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 19.54% of the company’s stock.

Garmin Stock Up 1.0 %

NYSE:GRMN opened at $217.83 on Wednesday. The firm has a market capitalization of $41.83 billion, a PE ratio of 27.64, a price-to-earnings-growth ratio of 1.30 and a beta of 0.98. Garmin Ltd. has a 12-month low of $119.15 and a 12-month high of $222.97. The firm has a 50-day moving average price of $211.50 and a 200 day moving average price of $187.87.

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

Analyst Ratings Changes

Several analysts have issued reports on the stock. Tigress Financial raised their price target 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. Morgan Stanley downgraded 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, Barclays upped their price target on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a report on Friday, November 1st. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Garmin currently has an average rating of “Hold” and a consensus price target 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.