GSA Capital Partners LLP acquired a new stake in Garmin Ltd. (NYSE:GRMN – Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 4,827 shares of the scientific and technical instruments company’s stock, valued at approximately $979,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in GRMN. Brighton Jones LLC lifted its stake in Garmin by 31.3% in the 4th quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company’s stock valued at $401,000 after purchasing an additional 463 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Garmin by 6.2% in the 1st quarter. NewEdge Advisors LLC now owns 5,885 shares of the scientific and technical instruments company’s stock valued at $1,278,000 after purchasing an additional 345 shares during the last quarter. Woodline Partners LP lifted its stake in Garmin by 40.6% in the 1st quarter. Woodline Partners LP now owns 13,017 shares of the scientific and technical instruments company’s stock valued at $2,826,000 after purchasing an additional 3,757 shares during the last quarter. Focus Partners Wealth lifted its stake in Garmin by 51.1% in the 1st quarter. Focus Partners Wealth now owns 6,811 shares of the scientific and technical instruments company’s stock valued at $1,479,000 after purchasing an additional 2,304 shares during the last quarter. Finally, Sivia Capital Partners LLC lifted its stake in Garmin by 17.0% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,662 shares of the scientific and technical instruments company’s stock valued at $347,000 after purchasing an additional 242 shares during the last quarter. Institutional investors own 81.60% of the company’s stock.
Garmin Stock Performance
GRMN stock opened at $239.53 on Friday. The company has a fifty day moving average price of $244.10 and a 200-day moving average price of $222.49. The company has a market capitalization of $46.20 billion, a P/E ratio of 26.70, a PEG ratio of 2.80 and a beta of 0.94. Garmin Ltd. has a 52-week low of $186.67 and a 52-week high of $273.32.
Analyst Upgrades and Downgrades
Several brokerages recently commented on GRMN. Morgan Stanley set a $249.00 price objective on shares of Garmin in a research note on Thursday, April 30th. JPMorgan Chase & Co. raised their price target on shares of Garmin from $265.00 to $285.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research note on Thursday, January 22nd. Tigress Financial raised their price target on shares of Garmin from $320.00 to $325.00 and gave the company a “strong-buy” rating in a research note on Wednesday. Finally, Zacks Research downgraded shares of Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Garmin presently has an average rating of “Moderate Buy” and an average price target of $269.40.
Check Out Our Latest Analysis on GRMN
Insider Buying and Selling at Garmin
In related news, CFO Douglas G. Boessen sold 3,487 shares of Garmin stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $251.66, for a total transaction of $877,538.42. Following the completion of the transaction, the chief financial officer owned 28,049 shares of the company’s stock, valued at $7,058,811.34. This trade represents a 11.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Clifton A. Pemble sold 19,914 shares of Garmin stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $251.58, for a total transaction of $5,009,964.12. Following the transaction, the chief executive officer directly owned 124,075 shares of the company’s stock, valued at $31,214,788.50. This represents a 13.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 39,175 shares of company stock valued at $9,852,187 over the last three months. 15.38% of the stock is currently owned by corporate insiders.
Garmin 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.
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