First Pacific Financial Sells 105 Shares of Garmin Ltd. (NYSE:GRMN)

First Pacific Financial decreased its position in shares of Garmin Ltd. (NYSE:GRMN) by 1.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,550 shares of the scientific and technical instruments company’s stock after selling 105 shares during the quarter. First Pacific Financial’s holdings in Garmin were worth $1,557,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Empirical Asset Management LLC lifted its position in Garmin by 57.2% during the 4th quarter. Empirical Asset Management LLC now owns 7,260 shares of the scientific and technical instruments company’s stock valued at $1,497,000 after purchasing an additional 2,641 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in shares of Garmin by 71.6% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 2,718 shares of the scientific and technical instruments company’s stock worth $561,000 after buying an additional 1,134 shares during the last quarter. Outlook Wealth Advisors LLC lifted its holdings in Garmin by 2.6% in the fourth quarter. Outlook Wealth Advisors LLC now owns 2,332 shares of the scientific and technical instruments company’s stock valued at $481,000 after buying an additional 58 shares during the period. Pinnacle Bancorp Inc. bought a new position in Garmin in the fourth quarter valued at approximately $29,000. Finally, Park Avenue Securities LLC boosted its stake in Garmin by 62.2% in the fourth quarter. Park Avenue Securities LLC now owns 6,116 shares of the scientific and technical instruments company’s stock valued at $1,261,000 after acquiring an additional 2,345 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GRMN has been the topic of a number of analyst reports. Morgan Stanley downgraded Garmin from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $155.00 to $138.00 in a research note on Monday, October 7th. Tigress Financial increased their target price on Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a research note on Monday, December 16th. Finally, Barclays boosted their target price on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research report on Friday, November 1st. Three equities research 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’s stock. According to MarketBeat, Garmin has a consensus rating of “Hold” and an average price target of $171.00.

Insiders Place Their Bets

In other Garmin news, Director Sean Biddlecombe sold 587 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $210.10, for a total transaction of $123,328.70. Following the completion of the transaction, the director now owns 6,147 shares in the company, valued at approximately $1,291,484.70. This represents a 8.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Douglas G. Boessen sold 1,761 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $207.99, for a total value of $366,270.39. Following the completion of the sale, the chief financial officer now owns 27,612 shares in the company, valued at approximately $5,743,019.88. This trade represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 19.54% of the company’s stock.

Garmin Stock Up 0.4 %

GRMN opened at $214.38 on Friday. The company has a fifty day simple moving average of $211.40 and a 200 day simple moving average of $186.74. The stock has a market cap of $41.16 billion, a P/E ratio of 27.21, a P/E/G ratio of 1.26 and a beta of 0.98. Garmin Ltd. has a 12 month low of $119.15 and a 12 month high of $222.97.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.53. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the prior year, the company earned $1.41 earnings per share. The company’s revenue for the quarter was up 24.1% compared to the same quarter last year. On average, equities research analysts expect that Garmin Ltd. will post 7.01 earnings per share for the current fiscal year.

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.