Allspring Global Investments Holdings LLC boosted its position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 229.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 159,056 shares of the scientific and technical instruments company's stock after purchasing an additional 110,705 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.08% of Garmin worth $32,535,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. FMR LLC boosted its stake in shares of Garmin by 40.8% during the third quarter. FMR LLC now owns 3,775,154 shares of the scientific and technical instruments company's stock valued at $664,540,000 after acquiring an additional 1,093,219 shares during the last quarter. Montrusco Bolton Investments Inc. acquired a new stake in shares of Garmin during the third quarter valued at $53,252,000. Jacobs Levy Equity Management Inc. boosted its stake in shares of Garmin by 1,580.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 287,283 shares of the scientific and technical instruments company's stock valued at $50,570,000 after acquiring an additional 270,186 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Garmin by 123.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 486,281 shares of the scientific and technical instruments company's stock valued at $85,600,000 after acquiring an additional 268,996 shares during the last quarter. Finally, KBC Group NV boosted its stake in shares of Garmin by 560.8% during the third quarter. KBC Group NV now owns 203,713 shares of the scientific and technical instruments company's stock valued at $35,860,000 after acquiring an additional 172,883 shares during the last quarter. 81.60% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Garmin
In related news, CFO Douglas G. Boessen sold 1,761 shares of the firm'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 sale, the chief financial officer now directly owns 27,612 shares in the company, valued at approximately $5,743,019.88. This trade represents a 6.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 19.54% of the company's stock.
Garmin Stock Performance
Shares of NYSE:GRMN traded up $0.16 during mid-day trading on Tuesday, hitting $212.78. 484,654 shares of the company traded hands, compared to its average volume of 701,444. The firm has a market cap of $40.86 billion, a P/E ratio of 27.02, a PEG ratio of 1.33 and a beta of 0.98. Garmin Ltd. has a 52-week low of $121.20 and a 52-week high of $223.33. The firm's 50 day simple moving average is $212.63 and its 200 day simple moving average is $194.17.
Analysts Set New Price Targets
A number of analysts recently commented on the company. Tigress Financial increased their price objective on Garmin from $215.00 to $265.00 and gave the company a "strong-buy" rating in a research note on Monday, December 16th. Barclays increased their target price on Garmin from $133.00 to $158.00 and gave the stock an "underweight" rating in a research report on Friday, November 1st. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Garmin currently has a consensus rating of "Hold" and an average target price of $171.00.
View Our Latest Stock Analysis on GRMN
Garmin Company Profile
(
Free Report)
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.
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