Summit Trail Advisors LLC Makes New $510,000 Investment in Garmin Ltd. (NYSE:GRMN)

Summit Trail Advisors LLC purchased a new stake in Garmin Ltd. (NYSE:GRMN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,475 shares of the scientific and technical instruments company's stock, valued at approximately $510,000.

A number of other large investors have also made changes to their positions in GRMN. CWM LLC grew its position in Garmin by 12.8% in the third quarter. CWM LLC now owns 7,164 shares of the scientific and technical instruments company's stock worth $1,261,000 after acquiring an additional 814 shares during the period. Exchange Traded Concepts LLC grew its position in Garmin by 4,398.1% in the third quarter. Exchange Traded Concepts LLC now owns 2,339 shares of the scientific and technical instruments company's stock worth $412,000 after acquiring an additional 2,287 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Garmin by 107.3% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,218 shares of the scientific and technical instruments company's stock worth $390,000 after buying an additional 1,148 shares during the period. ORG Wealth Partners LLC purchased a new position in shares of Garmin during the third quarter worth $110,000. Finally, Empirical Asset Management LLC purchased a new position in shares of Garmin during the third quarter worth $813,000. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

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Garmin Price Performance

Shares of NYSE GRMN traded up $2.14 during mid-day trading on Friday, hitting $212.37. The company had a trading volume of 892,163 shares, compared to its average volume of 645,349. The company has a market capitalization of $40.78 billion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 1.33 and a beta of 0.98. Garmin Ltd. has a 1-year low of $121.20 and a 1-year high of $223.33. The business's 50-day simple moving average is $212.77 and its 200 day simple moving average is $193.72.

Insider Buying and Selling at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 1,761 shares of the firm's stock in a transaction on Friday, December 20th. The stock was sold at an average price of $207.99, for a total value of $366,270.39. Following the sale, the chief financial officer now directly owns 27,612 shares in the company, valued at $5,743,019.88. This trade represents a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 19.54% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on GRMN. Barclays raised their price target on Garmin from $133.00 to $158.00 and gave the stock an "underweight" rating in a research report on Friday, November 1st. Tigress Financial raised their price target on Garmin from $215.00 to $265.00 and gave the stock a "strong-buy" rating in a research report on Monday, December 16th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $171.00.

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.