Andrew Hill Investment Advisors Inc. Sells 14,279 Shares of Garmin Ltd. (NYSE:GRMN)

Andrew Hill Investment Advisors Inc. lowered its stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 44.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,080 shares of the scientific and technical instruments company's stock after selling 14,279 shares during the period. Garmin accounts for approximately 3.8% of Andrew Hill Investment Advisors Inc.'s portfolio, making the stock its 9th biggest holding. Andrew Hill Investment Advisors Inc.'s holdings in Garmin were worth $3,926,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Larson Financial Group LLC increased its stake in shares of Garmin by 26.8% during the 4th quarter. Larson Financial Group LLC now owns 241 shares of the scientific and technical instruments company's stock valued at $50,000 after acquiring an additional 51 shares during the last quarter. Addison Advisors LLC increased its position in Garmin by 11.1% during the fourth quarter. Addison Advisors LLC now owns 522 shares of the scientific and technical instruments company's stock worth $108,000 after purchasing an additional 52 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in Garmin by 0.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 13,185 shares of the scientific and technical instruments company's stock worth $2,720,000 after purchasing an additional 55 shares during the last quarter. Lifeworks Advisors LLC raised its stake in Garmin by 0.3% during the fourth quarter. Lifeworks Advisors LLC now owns 20,169 shares of the scientific and technical instruments company's stock worth $4,160,000 after purchasing an additional 58 shares during the period. Finally, Principal Street Partners LLC boosted its holdings in shares of Garmin by 1.8% in the 4th quarter. Principal Street Partners LLC now owns 3,201 shares of the scientific and technical instruments company's stock valued at $660,000 after purchasing an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 81.60% of the company's stock.

Insider Transactions at Garmin

In related news, VP Susan Lyman sold 2,829 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $215.51, for a total value of $609,677.79. Following the transaction, the vice president now owns 8,432 shares in the company, valued at approximately $1,817,180.32. The trade was a 25.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 15.38% of the company's stock.

Garmin Trading Up 0.4%

NYSE:GRMN traded up $0.75 during mid-day trading on Wednesday, hitting $205.25. The company had a trading volume of 131,916 shares, compared to its average volume of 880,869. The business has a fifty day simple moving average of $196.01 and a 200-day simple moving average of $208.09. The firm has a market capitalization of $39.52 billion, a price-to-earnings ratio of 28.08, a PEG ratio of 1.36 and a beta of 0.99. Garmin Ltd. has a 1 year low of $158.38 and a 1 year high of $246.50.

Garmin (NYSE:GRMN - Get Free Report) last announced its earnings results on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.01). The company had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.50 billion. Garmin had a net margin of 22.42% and a return on equity of 19.31%. The business's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.42 earnings per share. As a group, research analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on GRMN. Tigress Financial upped their price objective on Garmin from $265.00 to $285.00 and gave the stock a "strong-buy" rating in a report on Wednesday, February 26th. Morgan Stanley raised their price objective on Garmin from $159.00 to $172.00 and gave the stock an "underweight" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. reduced their price objective on Garmin from $220.00 to $215.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Finally, Barclays dropped their target price on shares of Garmin from $188.00 to $152.00 and set an "underweight" rating for the company in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $206.00.

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.