Sound Stewardship LLC Sells 51 Shares of Garmin Ltd. (NYSE:GRMN)

Sound Stewardship LLC decreased its position in shares of Garmin Ltd. (NYSE:GRMN) by 3.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,435 shares of the scientific and technical instruments company’s stock after selling 51 shares during the quarter. Sound Stewardship LLC’s holdings in Garmin were worth $296,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. BankPlus Wealth Management LLC acquired a new position in shares of Garmin during the fourth quarter worth $668,000. Baldwin Wealth Partners LLC MA raised its position in Garmin by 4.5% during the 4th quarter. Baldwin Wealth Partners LLC MA now owns 83,662 shares of the scientific and technical instruments company’s stock worth $17,256,000 after purchasing an additional 3,568 shares during the last quarter. Blue Trust Inc. lifted its holdings in Garmin by 64.6% during the 4th quarter. Blue Trust Inc. now owns 2,171 shares of the scientific and technical instruments company’s stock worth $448,000 after buying an additional 852 shares during the period. Arkfeld Wealth Strategies L.L.C. bought a new stake in shares of Garmin in the 4th quarter valued at about $209,000. Finally, Geneos Wealth Management Inc. raised its position in shares of Garmin by 1.7% during the fourth quarter. Geneos Wealth Management Inc. now owns 2,863 shares of the scientific and technical instruments company’s stock worth $591,000 after acquiring an additional 49 shares during the last quarter. Institutional investors own 81.60% of the company’s stock.

Insider Activity at Garmin

In other Garmin news, Director Sean Biddlecombe sold 587 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were 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 $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 available through this hyperlink. Also, CFO Douglas G. Boessen sold 1,761 shares of the business’s stock in a transaction on 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 $5,743,019.88. This trade 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 owned by company insiders.

Garmin Price Performance

Shares of Garmin stock opened at $214.90 on Tuesday. The firm has a market cap of $41.26 billion, a PE ratio of 27.27, a P/E/G ratio of 1.31 and a beta of 0.98. The stock has a fifty day moving average price of $211.85 and a 200-day moving average price of $189.38. Garmin Ltd. has a 1 year low of $119.15 and a 1 year high of $222.97.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 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 business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the business earned $1.41 earnings per share. Garmin’s revenue for the quarter was up 24.1% on a year-over-year basis. As a group, equities analysts anticipate that Garmin Ltd. will post 7.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GRMN. Morgan Stanley lowered shares of 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 report on Monday, October 7th. Tigress Financial boosted their price target on Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a research note on Monday, December 16th. Finally, Barclays boosted their target price on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research report on Friday, November 1st. Three equities research 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average 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.