Garmin Ltd. (NYSE:GRMN) Shares Purchased by Greenleaf Trust

Greenleaf Trust raised its position in shares of Garmin Ltd. (NYSE:GRMN) by 3.0% in the fourth quarter, HoldingsChannel reports. The firm owned 3,897 shares of the scientific and technical instruments company’s stock after acquiring an additional 114 shares during the period. Greenleaf Trust’s holdings in Garmin were worth $804,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GRMN. Citigroup Inc. lifted its stake in shares of Garmin by 123.2% in the 3rd quarter. Citigroup Inc. now owns 283,412 shares of the scientific and technical instruments company’s stock worth $49,889,000 after acquiring an additional 156,441 shares during the period. Dynamic Advisor Solutions LLC acquired a new stake in shares of Garmin in the 3rd quarter worth approximately $695,000. Trajan Wealth LLC raised its holdings in shares of Garmin by 9.1% in the 3rd quarter. Trajan Wealth LLC now owns 82,362 shares of the scientific and technical instruments company’s stock worth $14,498,000 after purchasing an additional 6,878 shares in the last quarter. Passumpsic Savings Bank bought a new stake in shares of Garmin in the 3rd quarter worth approximately $3,137,000. Finally, Advisors Asset Management Inc. raised its holdings in shares of Garmin by 24.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 17,529 shares of the scientific and technical instruments company’s stock worth $3,086,000 after purchasing an additional 3,415 shares in the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Sean Biddlecombe sold 587 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $210.10, for a total transaction of $123,328.70. Following the transaction, the director now directly owns 6,147 shares of the company’s stock, valued at approximately $1,291,484.70. The trade was a 8.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Douglas G. Boessen sold 1,761 shares of the business’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 transaction, the chief financial officer now directly owns 27,612 shares in the company, valued at $5,743,019.88. The trade was 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 owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Barclays boosted their target price on shares of Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Tigress Financial boosted 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $171.00.

Garmin Price Performance

GRMN stock opened at $218.22 on Wednesday. Garmin Ltd. has a 52-week low of $119.31 and a 52-week high of $222.97. The company’s 50 day simple moving average is $212.63 and its 200-day simple moving average is $191.30. The firm has a market capitalization of $41.90 billion, a P/E ratio of 27.69, a P/E/G ratio of 1.30 and a beta of 0.98.

About Garmin

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.