Park Avenue Securities LLC Sells 1,021 Shares of Garmin Ltd. (NYSE:GRMN)

Park Avenue Securities LLC lowered its position in Garmin Ltd. (NYSE:GRMNGet Rating) by 20.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,943 shares of the scientific and technical instruments company’s stock after selling 1,021 shares during the period. Park Avenue Securities LLC’s holdings in Garmin were worth $317,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in GRMN. Federated Hermes Inc. bought a new stake in shares of Garmin in the second quarter worth about $29,000. Clear Street Markets LLC raised its holdings in Garmin by 403.2% during the 2nd quarter. Clear Street Markets LLC now owns 317 shares of the scientific and technical instruments company’s stock worth $31,000 after buying an additional 254 shares during the period. Rise Advisors LLC lifted its stake in Garmin by 4,250.0% in the third quarter. Rise Advisors LLC now owns 435 shares of the scientific and technical instruments company’s stock valued at $35,000 after buying an additional 425 shares in the last quarter. Dupont Capital Management Corp acquired a new position in shares of Garmin in the third quarter valued at approximately $35,000. Finally, Trust Co. of Vermont bought a new stake in shares of Garmin during the second quarter worth $49,000. Institutional investors and hedge funds own 63.29% of the company’s stock.

Insider Buying and Selling

In other Garmin news, CEO Clifton A. Pemble sold 19,836 shares of the stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $90.00, for a total value of $1,785,240.00. Following the completion of the sale, the chief executive officer now owns 125,664 shares in the company, valued at $11,309,760. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Matthew Munn sold 1,797 shares of Garmin stock in a transaction that occurred on Thursday, December 15th. The stock was sold at an average price of $92.96, for a total transaction of $167,049.12. Following the completion of the transaction, the director now directly owns 11,340 shares in the company, valued at approximately $1,054,166.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Clifton A. Pemble sold 19,836 shares of the stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $90.00, for a total value of $1,785,240.00. Following the completion of the sale, the chief executive officer now owns 125,664 shares in the company, valued at approximately $11,309,760. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,836 shares of company stock worth $1,969,818. Insiders own 20.34% of the company’s stock.

Wall Street Analysts Forecast Growth

GRMN has been the subject of a number of research analyst reports. Morgan Stanley reduced their target price on shares of Garmin from $96.00 to $91.00 and set an “equal weight” rating for the company in a research note on Monday, October 17th. Barclays began coverage on Garmin in a research report on Wednesday, November 9th. They set an “equal weight” rating and a $97.00 price objective for the company. Finally, StockNews.com started coverage on Garmin in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $122.40.

Garmin Price Performance

Garmin stock opened at $96.85 on Monday. The firm has a 50-day moving average of $93.67 and a 200-day moving average of $90.55. The company has a market cap of $18.56 billion, a price-to-earnings ratio of 19.41, a P/E/G ratio of 3.30 and a beta of 0.94. Garmin Ltd. has a one year low of $76.37 and a one year high of $129.07.

Garmin (NYSE:GRMNGet Rating) last posted its quarterly earnings results on Wednesday, October 26th. The scientific and technical instruments company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.14. Garmin had a return on equity of 17.13% and a net margin of 19.54%. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.18 billion. As a group, sell-side analysts expect that Garmin Ltd. will post 4.95 earnings per share for the current year.

Garmin Company Profile

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Garmin Ltd. is a holding company, which engages in the provision of navigation, communications and information devices, most of which are enabled by Global Positioning System (GPS) technology. It operates through the following segments: Marine, Outdoor, Fitness, Auto OEM, Consumer Auto, and Aviation.

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Institutional Ownership by Quarter for Garmin (NYSE:GRMN)

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