GTS Securities LLC Sells 3,326 Shares of Garmin Ltd. (NYSE:GRMN)

GTS Securities LLC lessened its position in Garmin Ltd. (NYSE:GRMN - Free Report) by 64.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,854 shares of the scientific and technical instruments company's stock after selling 3,326 shares during the quarter. GTS Securities LLC's holdings in Garmin were worth $382,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JT Stratford LLC lifted its position in Garmin by 5.0% in the 4th quarter. JT Stratford LLC now owns 9,448 shares of the scientific and technical instruments company's stock worth $1,949,000 after buying an additional 451 shares in the last quarter. Novem Group purchased a new stake in shares of Garmin during the fourth quarter worth $987,000. Principal Street Partners LLC raised its holdings in shares of Garmin by 1.8% during the fourth quarter. Principal Street Partners LLC now owns 3,201 shares of the scientific and technical instruments company's stock worth $660,000 after acquiring an additional 58 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Garmin by 15.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 999,096 shares of the scientific and technical instruments company's stock valued at $206,074,000 after purchasing an additional 135,135 shares during the last quarter. Finally, Waverly Advisors LLC purchased a new position in Garmin in the fourth quarter valued at about $231,000. Institutional investors and hedge funds own 81.60% of the company's stock.

Garmin Trading Down 0.1%

Garmin stock traded down $0.11 on Friday, reaching $202.73. 2,404,248 shares of the stock were exchanged, compared to its average volume of 884,076. Garmin Ltd. has a twelve month low of $158.38 and a twelve month high of $246.50. The firm has a fifty day moving average price of $196.54 and a two-hundred day moving average price of $208.16. The stock has a market cap of $39.03 billion, a PE ratio of 27.73, a PEG ratio of 1.36 and a beta of 0.99.

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

Wall Street Analyst Weigh In

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

Insider Activity at Garmin

In other Garmin news, VP Susan Lyman sold 2,829 shares of the firm's 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 completion of the transaction, the vice president now owns 8,432 shares in the company, valued at $1,817,180.32. This trade represents a 25.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 19.54% of the company's stock.

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.