Garmin Ltd. (NYSE:GRMN) Stock Position Increased by Baskin Financial Services Inc.

Baskin Financial Services Inc. lifted its stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 3.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 148,957 shares of the scientific and technical instruments company's stock after buying an additional 4,616 shares during the quarter. Garmin accounts for approximately 2.4% of Baskin Financial Services Inc.'s holdings, making the stock its 22nd largest holding. Baskin Financial Services Inc. owned about 0.08% of Garmin worth $30,724,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Pinnacle Bancorp Inc. acquired a new position in shares of Garmin in the fourth quarter worth about $29,000. Larson Financial Group LLC increased its holdings in Garmin by 578.6% during the 3rd quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company's stock worth $33,000 after purchasing an additional 162 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Garmin in the 3rd quarter valued at approximately $39,000. Capital Performance Advisors LLP purchased a new position in shares of Garmin during the 3rd quarter valued at approximately $59,000. Finally, Versant Capital Management Inc grew its position in shares of Garmin by 78.0% during the fourth quarter. Versant Capital Management Inc now owns 493 shares of the scientific and technical instruments company's stock worth $102,000 after buying an additional 216 shares in the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GRMN has been the topic of several recent analyst reports. Barclays upped their price target on shares of Garmin from $133.00 to $158.00 and gave the company an "underweight" rating in a report on Friday, November 1st. Tigress Financial upped their target price on shares of Garmin from $215.00 to $265.00 and gave the company a "strong-buy" rating in a research note on Monday, December 16th. Finally, Morgan Stanley downgraded Garmin from an "equal weight" rating to an "underweight" rating and decreased their price target for the stock from $155.00 to $138.00 in a research note on Monday, October 7th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $171.00.

Garmin Stock Down 0.1 %

GRMN stock traded down $0.28 during midday trading on Monday, reaching $215.57. The company had a trading volume of 1,008,598 shares, compared to its average volume of 694,395. The firm has a market capitalization of $41.39 billion, a PE ratio of 27.36, a P/E/G ratio of 1.30 and a beta of 0.98. The stock has a 50 day moving average price of $212.61 and a 200 day moving average price of $190.98. Garmin Ltd. has a fifty-two week low of $119.31 and a fifty-two week high of $222.97.

Insider Activity at Garmin

In other Garmin news, Director Sean Biddlecombe sold 587 shares of the business's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $210.10, for a total transaction of $123,328.70. Following the completion of the transaction, the director now directly owns 6,147 shares of the company's stock, valued at $1,291,484.70. The trade was a 8.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Douglas G. Boessen sold 1,761 shares of the firm's stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $207.99, for a total transaction of $366,270.39. Following the completion of the sale, the chief financial officer now owns 27,612 shares in the company, valued at $5,743,019.88. The trade was a 6.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 19.54% of the company's stock.

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.