Baader Bank Aktiengesellschaft Sells 990 Shares of Garmin Ltd. (NYSE:GRMN)

Baader Bank Aktiengesellschaft trimmed its stake in Garmin Ltd. (NYSE:GRMN) by 21.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,560 shares of the scientific and technical instruments company’s stock after selling 990 shares during the period. Baader Bank Aktiengesellschaft’s holdings in Garmin were worth $734,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC raised its position in Garmin by 40.8% in the 3rd quarter. FMR LLC now owns 3,775,154 shares of the scientific and technical instruments company’s stock worth $664,540,000 after purchasing an additional 1,093,219 shares during the period. Montrusco Bolton Investments Inc. purchased a new stake in shares of Garmin in the third quarter worth approximately $53,252,000. Jacobs Levy Equity Management Inc. lifted its stake in shares of Garmin by 1,580.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 287,283 shares of the scientific and technical instruments company’s stock worth $50,570,000 after acquiring an additional 270,186 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in Garmin by 123.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 486,281 shares of the scientific and technical instruments company’s stock valued at $85,600,000 after acquiring an additional 268,996 shares during the last quarter. Finally, Wedge Capital Management L L P NC purchased a new stake in Garmin in the third quarter worth $45,501,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Insider Buying and Selling at Garmin

In other news, Director Sean Biddlecombe sold 587 shares of Garmin 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 transaction, the director now owns 6,147 shares of the company’s stock, valued at $1,291,484.70. The trade was a 8.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Douglas G. Boessen sold 1,761 shares of the 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 directly owns 27,612 shares of the company’s stock, valued at $5,743,019.88. The trade was 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.

Garmin Price Performance

Shares of Garmin stock opened at $217.02 on Friday. Garmin Ltd. has a 1 year low of $119.15 and a 1 year high of $222.97. The stock has a market cap of $41.67 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 1.31 and a beta of 0.98. The firm’s 50-day moving average is $212.35 and its two-hundred day moving average is $190.24.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.53. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. Garmin’s revenue was up 24.1% compared to the same quarter last year. During the same period last year, the company posted $1.41 earnings per share. On average, equities analysts expect 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 a number of recent analyst reports. Morgan Stanley lowered shares of Garmin from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $155.00 to $138.00 in a research note on Monday, October 7th. Barclays upped their target price 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. Finally, Tigress Financial lifted their price target 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 investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company. According to MarketBeat, Garmin presently has an average rating of “Hold” and a consensus target price 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.