SG Americas Securities LLC Has $25.84 Million Holdings in Garmin Ltd. (NYSE:GRMN)

SG Americas Securities LLC lessened its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 21.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 125,276 shares of the scientific and technical instruments company’s stock after selling 33,591 shares during the period. SG Americas Securities LLC’s holdings in Garmin were worth $25,839,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Pinnacle Bancorp Inc. bought a new position in Garmin during the fourth quarter worth $29,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Garmin during the second quarter worth about $31,000. Larson Financial Group LLC increased its position in shares of Garmin by 578.6% during the third quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock worth $33,000 after acquiring an additional 162 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in Garmin during the third quarter worth about $39,000. Finally, Capital Performance Advisors LLP purchased a new position in Garmin in the third quarter valued at about $59,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Garmin Stock Performance

NYSE:GRMN opened at $216.18 on Thursday. The firm has a 50-day simple moving average of $211.58 and a two-hundred day simple moving average of $188.26. Garmin Ltd. has a fifty-two week low of $119.15 and a fifty-two week high of $222.97. The firm has a market cap of $41.51 billion, a P/E ratio of 27.43, a P/E/G ratio of 1.32 and a beta of 0.98.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 EPS for the quarter, topping 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 firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period in the previous year, the business posted $1.41 earnings per share. The business’s revenue for the quarter was up 24.1% on a year-over-year basis. On average, equities research analysts predict that Garmin Ltd. will post 7.01 EPS for the current year.

Insider Transactions at Garmin

In related news, CFO Douglas G. Boessen sold 1,761 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were 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 approximately $5,743,019.88. This trade represents a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through 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 transaction of $123,328.70. Following the completion of the transaction, the director now directly owns 6,147 shares in the company, valued at approximately $1,291,484.70. The trade was 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.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GRMN. Morgan Stanley lowered shares of Garmin from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $155.00 to $138.00 in a report on Monday, October 7th. Tigress Financial raised 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. Finally, Barclays raised their target price on shares of Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research report on Friday, November 1st. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Garmin has an average rating of “Hold” and an average price target of $171.00.

Garmin 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.