Douglas G. Boessen Sells 1,761 Shares of Garmin Ltd. (NYSE:GRMN) Stock

Garmin Ltd. (NYSE:GRMN) CFO Douglas G. Boessen sold 1,761 shares of Garmin stock in a transaction that occurred 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 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 document filed with the SEC, which is available at the SEC website.

Garmin Trading Up 0.1 %

Shares of GRMN stock opened at $209.30 on Tuesday. The company has a market capitalization of $40.19 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 1.46 and a beta of 0.97. The firm has a 50-day moving average price of $200.02 and a 200 day moving average price of $180.72. Garmin Ltd. has a twelve month low of $119.15 and a twelve month 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 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.53. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the previous year, the business posted $1.41 earnings per share. The company’s revenue was up 24.1% on a year-over-year basis. As a group, research analysts predict that Garmin Ltd. will post 7.01 earnings per share for the current year.

Wall Street Analyst Weigh In

GRMN has been the subject of several research reports. StockNews.com cut Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Barclays lifted their price target on Garmin from $133.00 to $158.00 and gave the stock 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 lowered their price objective for the company from $155.00 to $138.00 in a research note on Monday, October 7th. Finally, Tigress Financial lifted 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 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $171.00.

Institutional Investors Weigh In On Garmin

Hedge funds have recently made changes to their positions in the business. University of Texas Texas AM Investment Management Co. purchased a new position in Garmin during the second quarter worth about $31,000. Larson Financial Group LLC grew its holdings in Garmin by 578.6% in the third 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. Benjamin Edwards Inc. increased its position in Garmin by 73.3% during the second quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock worth $38,000 after purchasing an additional 99 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new position in Garmin during the third quarter worth approximately $39,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Garmin during the 2nd quarter valued at $46,000. Institutional investors and hedge funds own 81.60% 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.