Capital Investment Advisors LLC Sells 316 Shares of Garmin Ltd. (NYSE:GRMN)

Capital Investment Advisors LLC trimmed its stake in shares of Garmin Ltd. (NYSE:GRMN) by 15.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,670 shares of the scientific and technical instruments company’s stock after selling 316 shares during the period. Capital Investment Advisors LLC’s holdings in Garmin were worth $294,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GRMN. Sumitomo Life Insurance Co. raised its stake in shares of Garmin by 0.9% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 6,686 shares of the scientific and technical instruments company’s stock valued at $1,177,000 after purchasing an additional 61 shares during the period. Elo Mutual Pension Insurance Co grew its holdings in shares of Garmin by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 14,056 shares of the scientific and technical instruments company’s stock worth $2,290,000 after buying an additional 70 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its position in Garmin by 3.3% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 2,309 shares of the scientific and technical instruments company’s stock valued at $344,000 after buying an additional 73 shares during the last quarter. UMB Bank n.a. lifted its stake in Garmin by 2.6% in the 2nd quarter. UMB Bank n.a. now owns 2,879 shares of the scientific and technical instruments company’s stock valued at $469,000 after acquiring an additional 74 shares in the last quarter. Finally, Brighton Jones LLC boosted its position in Garmin by 5.8% during the 2nd quarter. Brighton Jones LLC now owns 1,522 shares of the scientific and technical instruments company’s stock worth $248,000 after acquiring an additional 83 shares during the last quarter. 73.41% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Cheng-Wei Wang sold 10,055 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the completion of the sale, the insider now owns 40,965 shares in the company, valued at approximately $7,257,359.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Garmin news, Director Philip Straub sold 2,750 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $181.46, for a total value of $499,015.00. Following the transaction, the director now directly owns 88,622 shares of the company’s stock, valued at $16,081,348.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Cheng-Wei Wang sold 10,055 shares of Garmin stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total value of $1,781,343.80. Following the sale, the insider now directly owns 40,965 shares of the company’s stock, valued at $7,257,359.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,892 shares of company stock valued at $2,296,174 over the last ninety days. 19.54% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Morgan Stanley downgraded shares of Garmin from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $155.00 to $138.00 in a report on Monday, October 7th. Tigress Financial raised their target price on shares of Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 19th. StockNews.com cut shares of Garmin from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Finally, Barclays cut Garmin from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $181.00 to $133.00 in a report on Friday, September 13th. 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $158.50.

Garmin Price Performance

Garmin stock opened at $166.60 on Tuesday. The company’s 50-day moving average is $173.99 and its 200-day moving average is $166.03. The firm has a market capitalization of $32.00 billion, a PE ratio of 23.50, a P/E/G ratio of 2.85 and a beta of 0.99. Garmin Ltd. has a fifty-two week low of $99.61 and a fifty-two week high of $184.42.

Garmin (NYSE:GRMN) last released its quarterly earnings data on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.18. Garmin had a return on equity of 17.09% and a net margin of 24.36%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the company earned $1.45 earnings per share. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, analysts expect that Garmin Ltd. will post 6.08 EPS for the current year.

Garmin Company 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.