CENTRAL TRUST Co Sells 246 Shares of Garmin Ltd. (NYSE:GRMN)

CENTRAL TRUST Co cut its stake in shares of Garmin Ltd. (NYSE:GRMN) by 6.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,552 shares of the scientific and technical instruments company’s stock after selling 246 shares during the period. CENTRAL TRUST Co’s holdings in Garmin were worth $625,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC boosted its stake in shares of Garmin by 136.7% in the 2nd quarter. AQR Capital Management LLC now owns 711,849 shares of the scientific and technical instruments company’s stock worth $115,177,000 after buying an additional 411,084 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Garmin in the second quarter worth $45,999,000. Marshall Wace LLP grew its stake in Garmin by 34.0% in 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 purchasing an additional 278,990 shares during the period. M&G Plc purchased a new stake in shares of Garmin during the 1st quarter valued at $38,727,000. Finally, Wedge Capital Management L L P NC bought a new stake in shares of Garmin during the 3rd quarter worth $45,501,000. 73.41% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Garmin

In related news, insider Cheng-Wei Wang sold 10,055 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 40,965 shares of the company’s stock, valued at approximately $7,257,359.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, 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 transaction of $1,781,343.80. Following the completion of the sale, the insider now owns 40,965 shares of the company’s stock, valued at approximately $7,257,359.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Philip Straub sold 2,750 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $181.46, for a total value of $499,015.00. Following the completion of the transaction, the director now owns 88,622 shares in the company, valued at $16,081,348.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,892 shares of company stock valued at $2,296,174. 19.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GRMN. Barclays downgraded shares of Garmin from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $181.00 to $133.00 in a report on Friday, September 13th. Tigress Financial lifted their price target 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. Morgan Stanley downgraded Garmin from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $155.00 to $138.00 in a research note on Monday, October 7th. Finally, StockNews.com lowered Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. 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 company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $158.50.

Garmin Trading Up 0.2 %

Garmin stock opened at $162.30 on Friday. The firm has a 50 day simple moving average of $173.31 and a 200 day simple moving average of $166.17. Garmin Ltd. has a 1-year low of $99.61 and a 1-year high of $184.42. The firm has a market capitalization of $31.20 billion, a price-to-earnings ratio of 22.70, a P/E/G ratio of 2.81 and a beta of 0.99.

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 analysts’ consensus estimates of $1.40 by $0.18. Garmin had a return on equity of 17.09% and a net margin of 24.36%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the previous year, the company posted $1.45 EPS. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, equities research analysts forecast that Garmin Ltd. will post 6.08 EPS for the current year.

About Garmin

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.