Hantz Financial Services Inc. Sells 2,911 Shares of Garmin Ltd. $GRMN

Hantz Financial Services Inc. reduced its position in shares of Garmin Ltd. (NYSE:GRMN) by 8.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 31,148 shares of the scientific and technical instruments company’s stock after selling 2,911 shares during the quarter. Hantz Financial Services Inc.’s holdings in Garmin were worth $7,669,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mather Group LLC. lifted its position in Garmin by 1.2% during the third quarter. Mather Group LLC. now owns 3,749 shares of the scientific and technical instruments company’s stock valued at $923,000 after purchasing an additional 44 shares during the last quarter. Smith Moore & CO. lifted its holdings in shares of Garmin by 4.3% in the 2nd quarter. Smith Moore & CO. now owns 1,151 shares of the scientific and technical instruments company’s stock valued at $240,000 after acquiring an additional 47 shares during the last quarter. BSW Wealth Partners lifted its holdings in shares of Garmin by 2.9% in the 3rd quarter. BSW Wealth Partners now owns 1,724 shares of the scientific and technical instruments company’s stock valued at $425,000 after acquiring an additional 48 shares during the last quarter. Curbstone Financial Management Corp grew its position in Garmin by 1.3% in the second quarter. Curbstone Financial Management Corp now owns 3,936 shares of the scientific and technical instruments company’s stock worth $822,000 after acquiring an additional 50 shares in the last quarter. Finally, SYM FINANCIAL Corp increased its stake in Garmin by 4.0% during the third quarter. SYM FINANCIAL Corp now owns 1,294 shares of the scientific and technical instruments company’s stock worth $319,000 after acquiring an additional 50 shares during the last quarter. 81.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Garmin

In related news, CFO Douglas G. Boessen sold 2,485 shares of the company’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $206.26, for a total value of $512,556.10. Following the completion of the sale, the chief financial officer directly owned 28,916 shares of the company’s stock, valued at $5,964,214.16. This represents a 7.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Clifton A. Pemble sold 10,431 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $206.23, for a total transaction of $2,151,185.13. Following the completion of the sale, the chief executive officer directly owned 135,180 shares of the company’s stock, valued at $27,878,171.40. The trade was a 7.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,594 shares of company stock worth $3,437,592 over the last three months. 15.38% of the stock is owned by corporate insiders.

Garmin Stock Performance

Shares of NYSE GRMN opened at $205.11 on Thursday. Garmin Ltd. has a 52-week low of $169.26 and a 52-week high of $261.69. The firm has a market capitalization of $39.45 billion, a price-to-earnings ratio of 25.26, a PEG ratio of 2.13 and a beta of 1.00. The stock has a 50 day moving average price of $205.24 and a 200 day moving average price of $221.57.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GRMN. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research note on Thursday, January 22nd. Morgan Stanley raised their price target on Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a research report on Thursday, October 30th. Barclays raised shares of Garmin from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $208.00 to $217.00 in a research note on Friday, January 16th. Tigress Financial reissued a “strong-buy” rating on shares of Garmin in a research note on Friday, December 19th. Finally, Longbow Research raised shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price target for the company in a research note on Wednesday, December 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Garmin presently has an average rating of “Moderate Buy” and a consensus target price of $244.40.

Garmin Company Profile

Garmin Ltd. is a technology company best known for designing and manufacturing navigation, communication and information devices that leverage global positioning system (GPS) technology. The company serves a diverse set of markets including consumer fitness and wearables, automotive navigation, aviation avionics, marine electronics and outdoor handheld devices. Garmin’s products combine hardware, mapping and software services to deliver location-aware solutions for personal, recreational and professional uses.

Garmin’s product lineup includes wearable fitness and multisport watches (Forerunner, Fenix, Venu), cycling computers and accessories (Edge, Varia), handheld and handheld-mounted GPS devices for outdoor activities, automotive and portable navigation units, marine chartplotters and fishfinders, and certified avionics for fixed- and rotary-wing aircraft.