Albert D Mason Inc. Has $1.26 Million Stock Position in Garmin Ltd. (NYSE:GRMN)

Albert D Mason Inc. cut its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 36.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,099 shares of the scientific and technical instruments company’s stock after selling 3,452 shares during the quarter. Albert D Mason Inc.’s holdings in Garmin were worth $1,258,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Pinnacle Bancorp Inc. acquired a new position in shares of Garmin in the fourth quarter worth $29,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Garmin during the 2nd quarter worth about $31,000. Larson Financial Group LLC raised its stake in shares of Garmin by 578.6% during the 3rd quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 162 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in shares of Garmin by 73.3% during the 2nd quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock valued at $38,000 after buying an additional 99 shares during the last quarter. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Garmin in the 3rd quarter valued at approximately $39,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Garmin Trading Up 0.4 %

NYSE:GRMN opened at $215.50 on Friday. The firm has a market capitalization of $41.38 billion, a PE ratio of 27.35, a PEG ratio of 1.26 and a beta of 0.98. Garmin Ltd. has a 1 year low of $119.15 and a 1 year high of $222.97. The firm’s fifty day simple moving average is $211.45 and its 200 day simple moving average is $187.12.

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 (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.53. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period last year, the business posted $1.41 earnings per share. The firm’s revenue was up 24.1% compared to the same quarter last year. As a group, analysts anticipate that Garmin Ltd. will post 7.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GRMN has been the subject of a number of analyst reports. Barclays lifted their target price on shares of Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research note on Friday, November 1st. Morgan Stanley cut shares of Garmin from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $155.00 to $138.00 in a report on Monday, October 7th. Finally, Tigress Financial increased their target price on shares of Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research report on Monday, December 16th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Garmin has an average rating of “Hold” and an average price target of $171.00.

Insiders Place Their Bets

In related news, CFO Douglas G. Boessen sold 1,761 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $207.99, for a total transaction of $366,270.39. Following the transaction, the chief financial officer now directly owns 27,612 shares in the company, valued at $5,743,019.88. The trade was a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sean Biddlecombe sold 587 shares of the firm’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 value of $123,328.70. Following the completion of the sale, the director now owns 6,147 shares of the company’s stock, valued at $1,291,484.70. This represents a 8.72 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 19.54% of the company’s stock.

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.