CENTRAL TRUST Co Lowers Stake in Garmin Ltd. (NYSE:GRMN)

CENTRAL TRUST Co trimmed its holdings in Garmin Ltd. (NYSE:GRMN) by 22.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,739 shares of the scientific and technical instruments company’s stock after selling 813 shares during the period. CENTRAL TRUST Co’s holdings in Garmin were worth $565,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. U.S. Capital Wealth Advisors LLC acquired a new stake in shares of Garmin in the 4th quarter worth $7,482,000. Greenleaf Trust raised its holdings in Garmin by 3.0% during the fourth quarter. Greenleaf Trust now owns 3,897 shares of the scientific and technical instruments company’s stock worth $804,000 after purchasing an additional 114 shares in the last quarter. SYM FINANCIAL Corp acquired a new stake in Garmin in the fourth quarter valued at about $239,000. Chicago Partners Investment Group LLC purchased a new stake in Garmin in the 4th quarter valued at approximately $234,000. Finally, Great Diamond Partners LLC purchased a new position in shares of Garmin during the 4th quarter worth approximately $681,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on GRMN shares. Morgan Stanley lowered Garmin from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $155.00 to $138.00 in a report on Monday, October 7th. Tigress Financial upped their price target on Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a report on Monday, December 16th. Finally, Barclays raised their price target on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research report on Friday, November 1st. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Garmin presently has an average rating of “Hold” and an average price target of $171.00.

Garmin Trading Down 0.1 %

NYSE:GRMN opened at $215.57 on Tuesday. The firm has a market cap of $41.39 billion, a price-to-earnings ratio of 27.36, a price-to-earnings-growth ratio of 1.30 and a beta of 0.98. Garmin Ltd. has a 12-month low of $119.31 and a 12-month high of $222.97. The company’s 50-day moving average is $212.61 and its two-hundred day moving average is $190.98.

Insiders Place Their Bets

In other Garmin news, Director Sean Biddlecombe sold 587 shares of Garmin stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $210.10, for a total value of $123,328.70. Following the completion of the sale, the director now owns 6,147 shares in the company, valued at $1,291,484.70. The trade was a 8.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Douglas G. Boessen sold 1,761 shares of the company’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 transaction, the chief financial officer now directly owns 27,612 shares of the company’s stock, valued at approximately $5,743,019.88. This 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.

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.