Garmin Ltd. (NYSE:GRMN) Shares Sold by Silver Oak Securities Incorporated

Silver Oak Securities Incorporated decreased its stake in Garmin Ltd. (NYSE:GRMN) by 15.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,634 shares of the scientific and technical instruments company’s stock after selling 639 shares during the period. Silver Oak Securities Incorporated’s holdings in Garmin were worth $754,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Pinnacle Bancorp Inc. purchased a new stake in Garmin in the fourth quarter valued at $29,000. Larson Financial Group LLC boosted its position in shares of Garmin by 578.6% in the 3rd quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock valued at $33,000 after purchasing an additional 162 shares during the period. Itau Unibanco Holding S.A. acquired a new position in Garmin during the third quarter worth approximately $39,000. Hager Investment Management Services LLC acquired a new stake in shares of Garmin in the fourth quarter valued at approximately $52,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Garmin during the third quarter worth approximately $59,000. 81.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GRMN has been the subject of a number of recent research reports. Barclays increased their price target on shares of Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research note on Friday, November 1st. Tigress Financial raised their price target on Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a report on Monday, December 16th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $171.00.

Garmin Stock Down 1.0 %

Shares of NYSE:GRMN opened at $217.52 on Friday. Garmin Ltd. has a 52 week low of $120.06 and a 52 week high of $223.33. The company has a 50-day moving average price of $213.02 and a 200 day moving average price of $192.02. The company has a market cap of $41.77 billion, a P/E ratio of 27.60, a PEG ratio of 1.30 and a beta of 0.98.

Insider Activity

In related news, 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 transaction of $366,270.39. Following the sale, the chief financial officer now owns 27,612 shares of the company’s stock, valued at approximately $5,743,019.88. The trade was a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 19.54% of the company’s stock.

Garmin Company 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.