Garmin Ltd. (NYSE:GRMN) Stock Holdings Lessened by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC reduced its stake in shares of Garmin Ltd. (NYSE:GRMN) by 5.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 124,119 shares of the scientific and technical instruments company’s stock after selling 6,597 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.06% of Garmin worth $25,601,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Citigroup Inc. grew 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 valued at $49,889,000 after acquiring an additional 156,441 shares in the last quarter. Algert Global LLC purchased a new position in Garmin in the second quarter valued at about $508,000. Dynamic Advisor Solutions LLC purchased a new position in Garmin in the third quarter valued at about $695,000. Trajan Wealth LLC increased its position in 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 purchasing an additional 6,878 shares during the last quarter. Finally, Passumpsic Savings Bank acquired a new stake in shares of Garmin during the 3rd quarter valued at about $3,137,000. 81.60% of the stock is owned by hedge funds and other institutional investors.

Garmin Stock Performance

Shares of NYSE:GRMN opened at $214.37 on Friday. The stock’s 50-day moving average is $211.74 and its 200-day moving average is $188.64. The company has a market cap of $41.16 billion, a P/E ratio of 27.20, a P/E/G ratio of 1.31 and a beta of 0.98. Garmin Ltd. has a 52-week low of $119.15 and a 52-week high of $222.97.

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

Insider Buying and Selling at Garmin

In other news, 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 value of $123,328.70. Following the sale, the director now directly owns 6,147 shares in the company, valued at approximately $1,291,484.70. This represents a 8.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Douglas G. Boessen sold 1,761 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was 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 of the company’s stock, valued at $5,743,019.88. This trade represents a 6.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 19.54% of the company’s stock.

Analyst Ratings Changes

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

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.