Garmin Ltd. (NYSE:GRMN) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio cut its stake in Garmin Ltd. (NYSE:GRMN - Free Report) by 6.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,494 shares of the scientific and technical instruments company's stock after selling 4,425 shares during the period. Public Employees Retirement System of Ohio's holdings in Garmin were worth $12,684,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of GRMN. Golden State Wealth Management LLC acquired a new stake in Garmin in the fourth quarter worth about $26,000. Aster Capital Management DIFC Ltd boosted its stake in Garmin by 864.3% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company's stock worth $28,000 after purchasing an additional 121 shares during the period. SOA Wealth Advisors LLC. bought a new position in shares of Garmin during the fourth quarter worth about $37,000. Kentucky Trust Co acquired a new stake in shares of Garmin in the fourth quarter valued at approximately $41,000. Finally, Venturi Wealth Management LLC lifted its position in Garmin by 67.7% during the 4th quarter. Venturi Wealth Management LLC now owns 208 shares of the scientific and technical instruments company's stock worth $43,000 after buying an additional 84 shares in the last quarter. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Garmin Price Performance

Shares of Garmin stock traded up $4.65 during trading hours on Tuesday, reaching $205.24. The company had a trading volume of 730,799 shares, compared to its average volume of 878,868. Garmin Ltd. has a one year low of $158.38 and a one year high of $246.50. The firm has a market cap of $39.52 billion, a PE ratio of 28.08, a price-to-earnings-growth ratio of 1.36 and a beta of 0.99. The business has a fifty day simple moving average of $197.25 and a 200 day simple moving average of $208.40.

Garmin (NYSE:GRMN - Get Free Report) last issued its quarterly earnings data 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). Garmin had a net margin of 22.42% and a return on equity of 19.31%. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the company posted $1.42 earnings per share. The business's revenue was up 11.1% on a year-over-year basis. On average, research analysts forecast that Garmin Ltd. will post 7.8 EPS for the current year.

Insider Buying and Selling at Garmin

In related news, COO Patrick Desbois sold 6,911 shares of Garmin stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $227.15, for a total transaction of $1,569,833.65. Following the completion of the transaction, the chief operating officer now directly owns 63,048 shares of the company's stock, valued at approximately $14,321,353.20. The trade was a 9.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Susan Lyman sold 2,829 shares of Garmin stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $215.51, for a total transaction of $609,677.79. Following the sale, the vice president now owns 8,432 shares of the company's stock, valued at $1,817,180.32. The trade was a 25.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,342 shares of company stock worth $5,486,094 in the last three months. 15.38% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GRMN has been the subject of several research reports. Barclays cut their price target on Garmin from $188.00 to $152.00 and set an "underweight" rating for the company in a report on Wednesday, April 30th. Morgan Stanley boosted their price objective on shares of Garmin from $159.00 to $172.00 and gave the company an "underweight" rating in a research report on Thursday, May 1st. Tigress Financial raised their price target on shares of Garmin from $265.00 to $285.00 and gave the company a "strong-buy" rating in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lowered their price objective on Garmin from $220.00 to $215.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. 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. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $206.00.

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.