Radnor Capital Management LLC Sells 350 Shares of Garmin Ltd. (NYSE:GRMN)

Radnor Capital Management LLC reduced its position in Garmin Ltd. (NYSE:GRMN) by 5.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,717 shares of the scientific and technical instruments company’s stock after selling 350 shares during the period. Radnor Capital Management LLC’s holdings in Garmin were worth $1,385,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Citigroup Inc. raised its holdings in shares of Garmin by 123.2% during the 3rd quarter. Citigroup Inc. now owns 283,412 shares of the scientific and technical instruments company’s stock worth $49,889,000 after acquiring an additional 156,441 shares in the last quarter. Algert Global LLC purchased a new stake in Garmin during the second quarter valued at $508,000. Dynamic Advisor Solutions LLC bought a new position in Garmin during the third quarter valued at $695,000. Trajan Wealth LLC grew its stake in shares of Garmin by 9.1% in the 3rd quarter. Trajan Wealth LLC now owns 82,362 shares of the scientific and technical instruments company’s stock worth $14,498,000 after buying an additional 6,878 shares in the last quarter. Finally, Passumpsic Savings Bank bought a new stake in shares of Garmin in the 3rd quarter worth about $3,137,000. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Garmin Trading Up 1.6 %

NYSE:GRMN opened at $211.73 on Wednesday. The company has a market cap of $40.66 billion, a price-to-earnings ratio of 26.87, a price-to-earnings-growth ratio of 1.42 and a beta of 0.98. Garmin Ltd. has a twelve month low of $119.15 and a twelve month high of $222.97. The stock has a fifty day simple moving average of $211.24 and a 200-day simple moving average of $186.36.

Garmin (NYSE:GRMN) last released its quarterly earnings data 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 company had revenue of $1.59 billion during 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 firm’s quarterly revenue was up 24.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.41 EPS. As a group, equities research analysts predict that Garmin Ltd. will post 7.01 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on GRMN shares. Barclays boosted their price objective on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research note on Friday, November 1st. Tigress Financial boosted their target price on Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a research report on Monday, December 16th. Finally, Morgan Stanley downgraded Garmin from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $155.00 to $138.00 in a research report on Monday, October 7th. Three investment 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. According to MarketBeat.com, Garmin presently has an average rating of “Hold” and a consensus price target of $171.00.

Insiders Place Their Bets

In other Garmin news, CFO Douglas G. Boessen sold 1,761 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $207.99, for a total transaction of $366,270.39. Following the transaction, the chief financial officer now owns 27,612 shares of the company’s stock, valued at approximately $5,743,019.88. This trade represents a 6.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sean Biddlecombe sold 587 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $210.10, for a total transaction of $123,328.70. Following the completion of the sale, the director now directly owns 6,147 shares of the company’s stock, valued at $1,291,484.70. The trade was a 8.72 % decrease in their position. The disclosure for this sale can be found here. 19.54% of the stock is currently owned by company insiders.

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.