Garmin Ltd. (NYSE:GRMN) CFO Douglas G. Boessen Sells 1,761 Shares of Stock

Garmin Ltd. (NYSE:GRMN) CFO Douglas G. Boessen sold 1,761 shares of the company’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 value of $366,270.39. Following the completion of the transaction, the chief financial officer now directly owns 27,612 shares of the company’s stock, valued at $5,743,019.88. This trade represents a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Garmin Trading Up 0.1 %

Garmin stock opened at $209.30 on Tuesday. The stock has a market capitalization of $40.19 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 1.46 and a beta of 0.97. The stock has a 50 day moving average of $200.02 and a two-hundred day moving average of $180.72. Garmin Ltd. has a twelve month low of $119.15 and a twelve month high of $222.97.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in GRMN. Citigroup Inc. boosted its holdings in Garmin by 123.2% in the 3rd quarter. Citigroup Inc. now owns 283,412 shares of the scientific and technical instruments company’s stock valued at $49,889,000 after purchasing an additional 156,441 shares in the last quarter. Algert Global LLC acquired a new stake in shares of Garmin in the 2nd quarter valued at approximately $508,000. Dynamic Advisor Solutions LLC purchased a new stake in shares of Garmin in the third quarter valued at approximately $695,000. Trajan Wealth LLC grew its holdings in Garmin by 9.1% during the third quarter. Trajan Wealth LLC now owns 82,362 shares of the scientific and technical instruments company’s stock worth $14,498,000 after acquiring an additional 6,878 shares during the period. Finally, Advisors Asset Management Inc. raised its position in Garmin by 24.2% in the third quarter. Advisors Asset Management Inc. now owns 17,529 shares of the scientific and technical instruments company’s stock worth $3,086,000 after acquiring an additional 3,415 shares in the last quarter. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on GRMN shares. Tigress Financial increased their target price 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. Morgan Stanley lowered Garmin from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $155.00 to $138.00 in a research report on Monday, October 7th. Barclays boosted their price objective on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research note on Friday, November 1st. Finally, StockNews.com lowered shares of Garmin from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $171.00.

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.