KBC Group NV decreased its position in Garmin Ltd. (NYSE:GRMN - Free Report) by 79.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,175 shares of the scientific and technical instruments company's stock after selling 162,538 shares during the quarter. KBC Group NV's holdings in Garmin were worth $8,493,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. acquired a new stake in shares of Garmin in the 4th quarter valued at $29,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Garmin in the second quarter valued at $31,000. Larson Financial Group LLC lifted its holdings in 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 worth $33,000 after buying an additional 162 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Garmin during the 3rd quarter worth about $39,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Garmin in the 3rd quarter valued at about $59,000. Hedge funds and other institutional investors own 81.60% of the company's stock.
Insider Transactions 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 stock was 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 of the company's stock, valued at approximately $1,291,484.70. The trade was a 8.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the chief financial officer now owns 27,612 shares in the company, valued at $5,743,019.88. The trade was a 6.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 19.54% of the company's stock.
Analysts Set New Price Targets
A number of brokerages recently issued reports on GRMN. Morgan Stanley downgraded Garmin from an "equal weight" rating to an "underweight" rating and lowered their price target for the company from $155.00 to $138.00 in a report on Monday, October 7th. Barclays increased their target price on shares of Garmin from $133.00 to $158.00 and gave the company an "underweight" rating in a research report on Friday, November 1st. Finally, Tigress Financial boosted their price target 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. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $171.00.
Get Our Latest Research Report on Garmin
Garmin Stock Performance
Garmin stock traded up $2.16 during midday trading on Thursday, hitting $216.50. 282,684 shares of the company's stock were exchanged, compared to its average volume of 660,695. The stock has a market cap of $41.57 billion, a price-to-earnings ratio of 27.53, a price-to-earnings-growth ratio of 1.31 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's 50 day simple moving average is $212.35 and its 200 day simple moving average is $190.24.
Garmin (NYSE:GRMN - Get Free Report) last released its quarterly 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 firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.44 billion. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The business's revenue was up 24.1% on a year-over-year basis. During the same quarter last year, the company posted $1.41 earnings per share. On average, equities research analysts forecast that Garmin Ltd. will post 7.01 EPS for the current fiscal year.
About Garmin
(
Free Report)
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.
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