Great Diamond Partners LLC Buys New Stake in Garmin Ltd. (NYSE:GRMN)

Great Diamond Partners LLC purchased a new stake in Garmin Ltd. (NYSE:GRMN - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,301 shares of the scientific and technical instruments company's stock, valued at approximately $681,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC lifted its stake in shares of Garmin by 40.8% in the 3rd quarter. FMR LLC now owns 3,775,154 shares of the scientific and technical instruments company's stock valued at $664,540,000 after purchasing an additional 1,093,219 shares during the period. Montrusco Bolton Investments Inc. purchased a new stake in shares of Garmin during the third quarter worth $53,252,000. Jacobs Levy Equity Management Inc. raised its position in shares of Garmin by 1,580.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 287,283 shares of the scientific and technical instruments company's stock worth $50,570,000 after buying an additional 270,186 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in 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 purchasing an additional 268,996 shares in the last quarter. Finally, Wedge Capital Management L L P NC purchased a new stake in Garmin during the third quarter valued at about $45,501,000. Institutional investors own 81.60% of the company's stock.

Insider Buying and Selling

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 value of $123,328.70. Following the transaction, the director now directly owns 6,147 shares in the company, 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 through the SEC website. Also, CFO Douglas G. Boessen sold 1,761 shares of the company's stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $207.99, for a total transaction of $366,270.39. Following the completion of the transaction, the chief financial officer now owns 27,612 shares in the company, valued at approximately $5,743,019.88. This represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 19.54% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

Garmin Trading Down 0.1 %

Shares of NYSE GRMN 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 business's 50-day simple moving average is $212.61 and its 200 day simple moving average is $190.98. The stock has a market cap of $41.39 billion, a P/E ratio of 27.36, a P/E/G ratio of 1.30 and a beta of 0.98. Garmin Ltd. has a 1 year low of $119.31 and a 1 year high of $222.97.

Garmin Company 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.