Garmin Ltd. (NYSE:GRMN) Shares Bought by Kestra Investment Management LLC

Kestra Investment Management LLC raised its holdings in Garmin Ltd. (NYSE:GRMN) by 53.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,759 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,649 shares during the period. Kestra Investment Management LLC’s holdings in Garmin were worth $982,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Citigroup Inc. grew its holdings in Garmin by 123.2% in the third quarter. Citigroup Inc. now owns 283,412 shares of the scientific and technical instruments company’s stock valued at $49,889,000 after purchasing an additional 156,441 shares during the period. Trajan Wealth LLC grew its holdings in Garmin by 9.1% in the third quarter. Trajan Wealth LLC now owns 82,362 shares of the scientific and technical instruments company’s stock valued at $14,498,000 after purchasing an additional 6,878 shares during the period. Passumpsic Savings Bank acquired a new stake in Garmin in the third quarter valued at approximately $3,137,000. Advisors Asset Management Inc. grew its holdings in Garmin by 24.2% in the third quarter. Advisors Asset Management Inc. now owns 17,529 shares of the scientific and technical instruments company’s stock valued at $3,086,000 after purchasing an additional 3,415 shares during the period. Finally, National Pension Service grew its holdings in Garmin by 25.7% in the third quarter. National Pension Service now owns 284,065 shares of the scientific and technical instruments company’s stock valued at $50,004,000 after purchasing an additional 58,025 shares during the period. 81.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Douglas G. Boessen sold 1,761 shares of Garmin 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 transaction, the chief financial officer now owns 27,612 shares in the company, valued at approximately $5,743,019.88. This trade represents a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 19.54% of the stock is currently owned by company insiders.

Garmin Stock Performance

Shares of Garmin stock opened at $214.78 on Wednesday. Garmin Ltd. has a one year low of $121.20 and a one year high of $223.33. The company has a market cap of $41.24 billion, a price-to-earnings ratio of 27.26, a PEG ratio of 1.33 and a beta of 0.98. The business’s 50 day moving average price is $212.63 and its 200 day moving average price is $194.17.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on GRMN shares. Tigress Financial lifted their price target on Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research note on Monday, December 16th. Barclays lifted their price target on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Garmin presently has an average 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.