Argent Capital Management LLC Sells 3,548 Shares of Garmin Ltd. (NYSE:GRMN)

Argent Capital Management LLC lessened its stake in Garmin Ltd. (NYSE:GRMN) by 2.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 177,490 shares of the scientific and technical instruments company’s stock after selling 3,548 shares during the quarter. Argent Capital Management LLC’s holdings in Garmin were worth $36,609,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in GRMN. Outlook Wealth Advisors LLC boosted its stake in Garmin by 2.6% in the 4th quarter. Outlook Wealth Advisors LLC now owns 2,332 shares of the scientific and technical instruments company’s stock worth $481,000 after purchasing an additional 58 shares in the last quarter. Sumitomo Life Insurance Co. grew its holdings in shares of Garmin by 0.9% during the third quarter. Sumitomo Life Insurance Co. now owns 6,686 shares of the scientific and technical instruments company’s stock worth $1,177,000 after buying an additional 61 shares in the last quarter. Elo Mutual Pension Insurance Co grew its holdings in shares of Garmin by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 14,056 shares of the scientific and technical instruments company’s stock worth $2,290,000 after buying an additional 70 shares in the last quarter. Tealwood Asset Management Inc. boosted its position in shares of Garmin by 0.5% during the 4th quarter. Tealwood Asset Management Inc. now owns 15,405 shares of the scientific and technical instruments company’s stock valued at $3,177,000 after acquiring an additional 75 shares during the last quarter. Finally, Buckingham Capital Management Inc. boosted its position in shares of Garmin by 0.7% during the 3rd quarter. Buckingham Capital Management Inc. now owns 11,715 shares of the scientific and technical instruments company’s stock valued at $2,062,000 after acquiring an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Garmin Stock Performance

Shares of NYSE:GRMN opened at $213.24 on Thursday. Garmin Ltd. has a 1 year low of $119.15 and a 1 year high of $222.97. The stock has a market capitalization of $40.95 billion, a P/E ratio of 27.06, a PEG ratio of 1.26 and a beta of 0.98. The stock has a 50-day simple moving average of $211.32 and a 200-day simple moving average of $186.55.

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

Insiders Place Their Bets

In related news, Director Sean Biddlecombe sold 587 shares of the firm’s 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 of the company’s stock, valued at $1,291,484.70. This trade represents a 8.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Douglas G. Boessen sold 1,761 shares of the stock in a transaction on 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 transaction, the chief financial officer now owns 27,612 shares of the company’s stock, valued at $5,743,019.88. This trade represents a 6.00 % decrease in their position. The disclosure for this sale can be found here. 19.54% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

GRMN has been the topic of a number of recent analyst reports. Tigress Financial upped their target price 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. Barclays upped their target price on shares of Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research note on Friday, November 1st. Finally, Morgan Stanley lowered shares of Garmin from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $155.00 to $138.00 in a research note on Monday, October 7th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Garmin has an average rating of “Hold” and an average target price of $171.00.

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.