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

Hantz Financial Services Inc. reduced its stake in Garmin Ltd. (NYSE:GRMN) by 8.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,148 shares of the scientific and technical instruments company’s stock after selling 2,911 shares during the period. Hantz Financial Services Inc.’s holdings in Garmin were worth $7,669,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of GRMN. Andra AP fonden grew its stake in shares of Garmin by 87.2% during the 2nd quarter. Andra AP fonden now owns 67,000 shares of the scientific and technical instruments company’s stock valued at $13,984,000 after purchasing an additional 31,200 shares during the period. First Horizon Advisors Inc. boosted its holdings in shares of Garmin by 4.2% in the second quarter. First Horizon Advisors Inc. now owns 121,552 shares of the scientific and technical instruments company’s stock worth $25,370,000 after buying an additional 4,943 shares during the last quarter. EFG Asset Management Americas Corp. boosted its holdings in shares of Garmin by 34.1% in the second quarter. EFG Asset Management Americas Corp. now owns 10,455 shares of the scientific and technical instruments company’s stock worth $2,182,000 after buying an additional 2,659 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Garmin by 25.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,584 shares of the scientific and technical instruments company’s stock valued at $5,314,000 after buying an additional 4,437 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Garmin by 6.9% during the second quarter. Vanguard Group Inc. now owns 19,698,329 shares of the scientific and technical instruments company’s stock valued at $4,111,435,000 after buying an additional 1,273,163 shares during the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Insider Activity

In other news, CFO Douglas G. Boessen sold 2,485 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $206.26, for a total value of $512,556.10. Following the transaction, the chief financial officer owned 28,916 shares of the company’s stock, valued at approximately $5,964,214.16. The trade was a 7.91% 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 hyperlink. Also, COO Patrick Desbois sold 3,678 shares of the firm’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $210.40, for a total transaction of $773,851.20. Following the transaction, the chief operating officer directly owned 61,798 shares of the company’s stock, valued at $13,002,299.20. The trade was a 5.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,594 shares of company stock worth $3,437,592 over the last quarter. Insiders own 15.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research note on Thursday, January 22nd. Tigress Financial reiterated a “strong-buy” rating on shares of Garmin in a research report on Friday, December 19th. Morgan Stanley upped 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 Garmin from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $208.00 to $217.00 in a research report on Friday, January 16th. Finally, Longbow Research raised shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 target price for the company in a report on Wednesday, December 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $244.40.

Garmin Trading Up 1.9%

NYSE:GRMN opened at $205.11 on Thursday. The stock has a 50-day moving average price of $205.24 and a 200 day moving average price of $221.57. The stock has a market capitalization of $39.45 billion, a P/E ratio of 25.26, a P/E/G ratio of 2.13 and a beta of 1.00. Garmin Ltd. has a 12-month low of $169.26 and a 12-month high of $261.69.

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.