Pathstone Holdings LLC Sells 309 Shares of Garmin Ltd. (NYSE:GRMN)

Pathstone Holdings LLC decreased its stake in Garmin Ltd. (NYSE:GRMN) by 1.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,271 shares of the scientific and technical instruments company’s stock after selling 309 shares during the quarter. Pathstone Holdings LLC’s holdings in Garmin were worth $3,392,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Select Equity Group L.P. increased its holdings in Garmin by 0.6% in the 2nd quarter. Select Equity Group L.P. now owns 2,006,563 shares of the scientific and technical instruments company’s stock worth $326,909,000 after acquiring an additional 11,666 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Garmin by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,735,623 shares of the scientific and technical instruments company’s stock worth $282,761,000 after purchasing an additional 13,968 shares in the last quarter. Boston Partners raised its position in shares of Garmin by 4.3% during the 1st quarter. Boston Partners now owns 1,416,130 shares of the scientific and technical instruments company’s stock valued at $210,799,000 after purchasing an additional 58,343 shares during the period. Marshall Wace LLP lifted its stake in shares of Garmin by 34.0% during the 2nd quarter. Marshall Wace LLP now owns 1,098,443 shares of the scientific and technical instruments company’s stock valued at $178,958,000 after buying an additional 278,990 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in Garmin by 2.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 793,914 shares of the scientific and technical instruments company’s stock worth $129,345,000 after buying an additional 17,634 shares during the period. Institutional investors own 73.41% of the company’s stock.

Insider Activity

In other news, Director Philip Straub sold 2,750 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $181.46, for a total value of $499,015.00. Following the completion of the sale, the director now owns 88,622 shares in the company, valued at approximately $16,081,348.12. This trade represents a 3.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sean Biddlecombe sold 587 shares of Garmin stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $210.10, for a total transaction of $123,328.70. Following the transaction, the director now directly owns 6,147 shares of the company’s stock, valued at approximately $1,291,484.70. This represents a 8.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,424 shares of company stock valued at $638,159 in the last ninety days. Insiders own 19.54% of the company’s stock.

Garmin Stock Performance

Shares of GRMN opened at $210.33 on Monday. Garmin Ltd. has a fifty-two week low of $119.15 and a fifty-two week high of $215.55. The company’s fifty day moving average is $182.77 and its 200 day moving average is $173.97. The stock has a market capitalization of $40.39 billion, a PE ratio of 26.69, a P/E/G ratio of 3.28 and a beta of 0.97.

Garmin (NYSE:GRMN) last announced its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.53. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The business’s revenue was up 24.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.41 EPS. As a group, research analysts forecast that Garmin Ltd. will post 6.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GRMN. Morgan Stanley downgraded 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 research report on Monday, October 7th. Barclays boosted their price target on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Tigress Financial boosted their target price on shares of Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 19th. Finally, StockNews.com downgraded shares of Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Garmin presently has a consensus rating of “Hold” and a consensus target price of $162.67.

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.