Garmin Ltd. (NYSE:GRMN) Shares Sold by Long Run Wealth Advisors LLC

Long Run Wealth Advisors LLC reduced its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,940 shares of the scientific and technical instruments company’s stock after selling 149 shares during the quarter. Long Run Wealth Advisors LLC’s holdings in Garmin were worth $2,256,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. FMR LLC lifted its holdings 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 last quarter. Montrusco Bolton Investments Inc. acquired a new stake in Garmin during the 3rd quarter worth approximately $53,252,000. Jacobs Levy Equity Management Inc. lifted its position in Garmin by 1,580.3% during the 3rd 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 acquiring an additional 270,186 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in Garmin by 123.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 486,281 shares of the scientific and technical instruments company’s stock worth $85,600,000 after acquiring an additional 268,996 shares during the period. Finally, Wedge Capital Management L L P NC acquired a new stake in Garmin during the 3rd quarter worth approximately $45,501,000. 81.60% of the stock is owned by institutional investors and hedge funds.

Garmin Price Performance

NYSE GRMN opened at $218.71 on Thursday. Garmin Ltd. has a 1-year low of $120.06 and a 1-year high of $222.97. The company has a market capitalization of $42.00 billion, a P/E ratio of 27.75, a PEG ratio of 1.30 and a beta of 0.98. The business has a 50 day moving average price of $212.74 and a 200 day moving average price of $191.63.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Tigress Financial increased their price objective on Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research report on Monday, December 16th. Barclays raised their price target on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a report on Friday, November 1st. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Garmin has an average rating of “Hold” and a consensus target price of $171.00.

Insider Activity 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 transaction of $366,270.39. Following the completion of the transaction, the chief financial officer now owns 27,612 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through this link. 19.54% of the stock is currently owned by company insiders.

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.