Garmin Ltd. (NYSE:GRMN) Holdings Decreased by USS Investment Management Ltd

USS Investment Management Ltd lowered its holdings in Garmin Ltd. (NYSE:GRMN - Free Report) by 23.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,371 shares of the scientific and technical instruments company's stock after selling 13,200 shares during the period. USS Investment Management Ltd's holdings in Garmin were worth $8,950,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other news, CEO Clifton A. Pemble sold 7,202 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $227.14, for a total transaction of $1,635,862.28. Following the sale, the chief executive officer now owns 149,525 shares in the company, valued at $33,963,108.50. The trade was a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Susan Lyman sold 2,829 shares of the company's stock in a transaction that occurred on 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 sale, the vice president now owns 8,432 shares of the company's stock, valued at approximately $1,817,180.32. This trade represents a 25.12% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,342 shares of company stock worth $5,486,094. 15.38% of the stock is owned by insiders.

Garmin Stock Performance

Shares of GRMN stock traded up $3.94 during mid-day trading on Tuesday, hitting $204.53. 173,520 shares of the stock traded hands, compared to its average volume of 876,698. Garmin Ltd. has a twelve month low of $158.38 and a twelve month high of $246.50. The company's 50-day simple moving average is $197.32 and its 200-day simple moving average is $208.43. The firm has a market cap of $39.38 billion, a price-to-earnings ratio of 27.98, a price-to-earnings-growth ratio of 1.36 and a beta of 0.99.

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

Analysts Set New Price Targets

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