Daymark Wealth Partners LLC Sells 3,171 Shares of Garmin Ltd. (NYSE:GRMN)

Daymark Wealth Partners LLC decreased its position in shares of Garmin Ltd. (NYSE:GRMN) by 28.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 7,996 shares of the scientific and technical instruments company’s stock after selling 3,171 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Garmin were worth $1,649,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. bought a new stake in Garmin during the 4th quarter valued at $29,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Garmin during the 2nd quarter valued at $31,000. Larson Financial Group LLC lifted its holdings in Garmin by 578.6% during the 3rd quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 162 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in Garmin in the 3rd quarter worth about $39,000. Finally, Capital Performance Advisors LLP purchased a new position in Garmin during the 3rd quarter valued at about $59,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Insider Activity

In other Garmin news, Director Sean Biddlecombe sold 587 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $210.10, for a total transaction of $123,328.70. Following the completion of the sale, the director now owns 6,147 shares of the company’s stock, valued at $1,291,484.70. This represents a 8.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction of $366,270.39. Following the completion of the transaction, the chief financial officer now owns 27,612 shares in the company, valued at $5,743,019.88. The trade was a 6.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 19.54% of the company’s stock.

Analyst Upgrades and Downgrades

GRMN has been the subject of a number of analyst reports. Tigress Financial raised their price objective on shares of Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a research report on Monday, December 16th. Morgan Stanley downgraded shares of 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 report on Monday, October 7th. Finally, Barclays upped their price target on shares of Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat, Garmin has an average rating of “Hold” and an average target price of $171.00.

Garmin Trading Down 0.8 %

Shares of Garmin stock opened at $216.18 on Thursday. The firm has a market capitalization of $41.51 billion, a PE ratio of 27.43, a price-to-earnings-growth ratio of 1.30 and a beta of 0.98. Garmin Ltd. has a 12 month low of $119.15 and a 12 month high of $222.97. The business’s 50-day moving average price is $211.58 and its 200-day moving average price is $188.26.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.53. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The business’s quarterly revenue was up 24.1% on a year-over-year basis. During the same period last year, the business earned $1.41 earnings per share. As a group, analysts predict that Garmin Ltd. will post 7.01 earnings per share for the current fiscal year.

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.