Garmin Ltd. (NYSE:GRMN) Shares Sold by Silver Oak Securities Incorporated

Silver Oak Securities Incorporated trimmed its holdings in Garmin Ltd. (NYSE:GRMN) by 15.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,634 shares of the scientific and technical instruments company’s stock after selling 639 shares during the period. Silver Oak Securities Incorporated’s holdings in Garmin were worth $754,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Pinnacle Bancorp Inc. purchased a new stake in Garmin during the 4th quarter worth about $29,000. Larson Financial Group LLC grew its holdings in shares of Garmin by 578.6% during the third quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock worth $33,000 after buying an additional 162 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Garmin during the third quarter worth about $39,000. Hager Investment Management Services LLC purchased a new position in shares of Garmin during the fourth quarter valued at approximately $52,000. Finally, Capital Performance Advisors LLP acquired a new stake in Garmin during the third quarter worth approximately $59,000. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Garmin Stock Down 1.0 %

Shares of GRMN stock opened at $217.52 on Friday. Garmin Ltd. has a fifty-two week low of $120.06 and a fifty-two week high of $223.33. The firm’s 50 day moving average price is $213.02 and its two-hundred day moving average price is $192.02. The stock has a market cap of $41.77 billion, a price-to-earnings ratio of 27.60, a price-to-earnings-growth ratio of 1.30 and a beta of 0.98.

Insider Activity

In other news, CFO Douglas G. Boessen sold 1,761 shares of the stock in a transaction dated Friday, December 20th. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 19.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GRMN shares. Barclays increased their price target on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research note on Friday, November 1st. Tigress Financial lifted their price target on Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a report on Monday, December 16th. Three equities research 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 stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $171.00.

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.