American National Bank & Trust Sells 441 Shares of Garmin Ltd. (NYSE:GRMN)

American National Bank & Trust reduced its stake in Garmin Ltd. (NYSE:GRMN) by 8.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,040 shares of the scientific and technical instruments company’s stock after selling 441 shares during the quarter. American National Bank & Trust’s holdings in Garmin were worth $887,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Allianz Asset Management GmbH increased its stake in shares of Garmin by 10.3% in the fourth quarter. Allianz Asset Management GmbH now owns 53,479 shares of the scientific and technical instruments company’s stock worth $6,874,000 after purchasing an additional 4,978 shares in the last quarter. California State Teachers Retirement System raised its holdings in Garmin by 3.3% during the fourth quarter. California State Teachers Retirement System now owns 248,935 shares of the scientific and technical instruments company’s stock valued at $31,998,000 after acquiring an additional 7,912 shares during the period. NEOS Investment Management LLC purchased a new position in shares of Garmin in the fourth quarter valued at about $273,000. Rafferty Asset Management LLC boosted its stake in shares of Garmin by 3.0% in the fourth quarter. Rafferty Asset Management LLC now owns 12,893 shares of the scientific and technical instruments company’s stock worth $1,657,000 after acquiring an additional 379 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of Garmin by 28.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 862,527 shares of the scientific and technical instruments company’s stock worth $110,869,000 after purchasing an additional 190,739 shares in the last quarter. 73.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. StockNews.com downgraded Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Tigress Financial increased their price objective on shares of Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a report on Thursday, September 19th. Finally, Barclays cut Garmin from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $181.00 to $133.00 in a report on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $152.17.

Insiders Place Their Bets

In other Garmin news, insider Cheng-Wei Wang sold 10,055 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total value of $1,781,343.80. Following the completion of the sale, the insider now owns 40,965 shares of the company’s stock, valued at $7,257,359.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Garmin news, insider Cheng-Wei Wang sold 10,055 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total value of $1,781,343.80. Following the sale, the insider now owns 40,965 shares in the company, valued at $7,257,359.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Philip Straub sold 2,750 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $181.46, for a total transaction of $499,015.00. Following the sale, the director now directly owns 88,622 shares of the company’s stock, valued at $16,081,348.12. The disclosure for this sale can be found here. Insiders sold 12,892 shares of company stock valued at $2,296,174 over the last three months. 19.54% of the stock is owned by company insiders.

Garmin Trading Down 0.4 %

Shares of NYSE GRMN opened at $172.05 on Thursday. Garmin Ltd. has a 12-month low of $99.61 and a 12-month high of $184.42. The firm’s 50-day moving average price is $174.86 and its 200-day moving average price is $164.12. The stock has a market capitalization of $33.05 billion, a price-to-earnings ratio of 24.27, a P/E/G ratio of 3.04 and a beta of 1.00.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.18. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.42 billion. Garmin had a return on equity of 17.09% and a net margin of 24.36%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.45 earnings per share. On average, equities analysts predict that Garmin Ltd. will post 6.05 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.