Claro Advisors LLC Has $248,000 Position in Garmin Ltd. (NYSE:GRMN)

Claro Advisors LLC cut its stake in Garmin Ltd. (NYSE:GRMN) by 12.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,201 shares of the scientific and technical instruments company’s stock after selling 175 shares during the quarter. Claro Advisors LLC’s holdings in Garmin were worth $248,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp increased its position in Garmin by 2.0% in the 3rd quarter. State Street Corp now owns 6,912,536 shares of the scientific and technical instruments company’s stock worth $1,216,819,000 after purchasing an additional 134,303 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Garmin by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,363,464 shares of the scientific and technical instruments company’s stock valued at $765,912,000 after buying an additional 112,815 shares in the last quarter. FMR LLC increased its holdings in Garmin by 40.8% in the third quarter. FMR LLC now owns 3,775,154 shares of the scientific and technical instruments company’s stock worth $664,540,000 after buying an additional 1,093,219 shares during the last quarter. Select Equity Group L.P. raised its position in Garmin by 0.6% during the second quarter. Select Equity Group L.P. now owns 2,006,563 shares of the scientific and technical instruments company’s stock valued at $326,909,000 after acquiring an additional 11,666 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in 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 valued at $282,761,000 after acquiring an additional 13,968 shares during the last quarter. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Sean Biddlecombe sold 587 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $210.10, for a total value of $123,328.70. Following the completion of the sale, the director now owns 6,147 shares in the company, valued at approximately $1,291,484.70. This trade represents a 8.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Douglas G. Boessen sold 1,761 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were 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. This represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 19.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GRMN has been the topic of a number of recent research reports. Tigress Financial raised their price target on shares of Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a report on Monday, December 16th. Barclays raised their target price on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a report on Friday, November 1st. Finally, Morgan Stanley downgraded Garmin from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $155.00 to $138.00 in a research note on Monday, October 7th. Three 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. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $171.00.

Garmin Price Performance

Garmin stock opened at $213.24 on Thursday. The firm has a market cap of $40.95 billion, a price-to-earnings ratio of 27.06, a P/E/G ratio of 1.42 and a beta of 0.98. The firm has a fifty day moving average price of $211.32 and a two-hundred day moving average price of $186.55. Garmin Ltd. has a fifty-two week low of $119.15 and a fifty-two week high of $222.97.

Garmin (NYSE:GRMN) last announced its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, beating 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 firm’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.41 EPS. As a group, sell-side analysts expect that Garmin Ltd. will post 7.01 earnings per share 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.