Dakota Wealth Management Reduces Position in Garmin Ltd. (NYSE:GRMN)

Dakota Wealth Management decreased its position in Garmin Ltd. (NYSE:GRMN) by 9.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,279 shares of the scientific and technical instruments company’s stock after selling 792 shares during the period. Dakota Wealth Management’s holdings in Garmin were worth $1,501,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Citigroup Inc. boosted its position in shares of Garmin by 123.2% during the 3rd quarter. Citigroup Inc. now owns 283,412 shares of the scientific and technical instruments company’s stock worth $49,889,000 after purchasing an additional 156,441 shares during the period. Algert Global LLC acquired a new stake in Garmin during the 2nd quarter worth approximately $508,000. Dynamic Advisor Solutions LLC acquired a new stake in shares of Garmin in the 3rd quarter valued at $695,000. Trajan Wealth LLC raised its holdings in shares of Garmin by 9.1% in the 3rd quarter. Trajan Wealth LLC now owns 82,362 shares of the scientific and technical instruments company’s stock valued at $14,498,000 after purchasing an additional 6,878 shares in the last quarter. Finally, Passumpsic Savings Bank acquired a new stake in shares of Garmin in the 3rd quarter valued at $3,137,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

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 shares were 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 in the company, valued at approximately $1,291,484.70. The trade was a 8.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Douglas G. Boessen sold 1,761 shares of the company’s stock in a transaction that occurred on 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 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. 19.54% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GRMN has been the topic of a number of recent analyst reports. Tigress Financial increased 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. Morgan Stanley downgraded shares of Garmin from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $155.00 to $138.00 in a report on Monday, October 7th. Finally, Barclays lifted their target price on shares of Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a report on Friday, November 1st. Three investment 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $171.00.

Garmin Stock Down 0.3 %

Shares of NYSE GRMN opened at $215.65 on Friday. Garmin Ltd. has a 52 week low of $119.15 and a 52 week high of $222.97. The firm has a 50-day moving average price of $211.65 and a 200 day moving average price of $188.46. The stock has a market capitalization of $41.41 billion, a price-to-earnings ratio of 27.37, a price-to-earnings-growth ratio of 1.32 and a beta of 0.98.

Garmin (NYSE:GRMN) last announced its quarterly earnings data 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. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter last year, the business earned $1.41 earnings per share. The business’s revenue for the quarter was up 24.1% compared to the same quarter last year. Equities research analysts expect that Garmin Ltd. will post 7.01 EPS 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.