Garmin Ltd. (NYSE:GRMN) Shares Sold by CENTRAL TRUST Co

CENTRAL TRUST Co lessened its stake in Garmin Ltd. (NYSE:GRMN) by 22.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,739 shares of the scientific and technical instruments company’s stock after selling 813 shares during the quarter. CENTRAL TRUST Co’s holdings in Garmin were worth $565,000 as of its most recent filing with the SEC.

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

Garmin Stock Performance

Shares of GRMN stock opened at $215.57 on Tuesday. The firm has a market capitalization of $41.39 billion, a PE ratio of 27.36, a price-to-earnings-growth ratio of 1.30 and a beta of 0.98. Garmin Ltd. has a 1 year low of $119.31 and a 1 year high of $222.97. The stock has a fifty day moving average of $212.61 and a two-hundred day moving average of $190.98.

Analyst Ratings Changes

A number of research analysts have recently issued reports on GRMN shares. Barclays raised their price target on shares of Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research report on Friday, November 1st. Tigress Financial raised 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, Morgan Stanley downgraded Garmin from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $155.00 to $138.00 in a research note on Monday, October 7th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $171.00.

Insider Activity at Garmin

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 business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $207.99, for a total transaction 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 disclosure for this sale can be found here. 19.54% of the stock is currently owned by insiders.

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.