Garmin (NYSE:GRMN – Get Rating) was downgraded by equities researchers at Bank of America from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, Marketbeat reports. They presently have a $109.00 price target on the scientific and technical instruments company’s stock, down from their previous price target of $137.00. Bank of America‘s price objective indicates a potential upside of 11.43% from the stock’s previous close.
GRMN has been the topic of several other reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Garmin from $160.00 to $150.00 in a research report on Thursday, April 28th. Tigress Financial upped their target price on shares of Garmin from $205.00 to $208.00 in a report on Friday, May 6th. TheStreet lowered shares of Garmin from a “b” rating to a “c+” rating in a report on Wednesday, July 27th. JPMorgan Chase & Co. reduced their target price on shares of Garmin from $140.00 to $120.00 and set a “maintains” rating on the stock in a report on Thursday, July 28th. Finally, Morgan Stanley restated a “maintains” rating and issued a $96.00 target price (down from $115.00) on shares of Garmin in a report on Thursday, July 28th. One research analyst has rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $136.60.
Garmin Stock Up 1.4 %
Garmin stock opened at $97.82 on Tuesday. Garmin has a 52 week low of $92.31 and a 52 week high of $178.80. The firm’s 50-day simple moving average is $100.47 and its 200 day simple moving average is $109.46. The firm has a market capitalization of $18.87 billion, a PE ratio of 18.67, a P/E/G ratio of 3.59 and a beta of 0.95.
In other news, CEO Clifton A. Pemble sold 16,089 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $97.81, for a total transaction of $1,573,665.09. Following the completion of the transaction, the chief executive officer now owns 145,500 shares of the company’s stock, valued at approximately $14,231,355. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 21.39% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the business. Riverview Trust Co acquired a new position in shares of Garmin during the 1st quarter valued at $26,000. Clear Street Markets LLC lifted its holdings in shares of Garmin by 403.2% during the 2nd quarter. Clear Street Markets LLC now owns 317 shares of the scientific and technical instruments company’s stock valued at $31,000 after acquiring an additional 254 shares in the last quarter. HWG Holdings LP acquired a new position in shares of Garmin during the 4th quarter valued at $35,000. Tradewinds Capital Management LLC lifted its holdings in shares of Garmin by 100.0% during the 4th quarter. Tradewinds Capital Management LLC now owns 300 shares of the scientific and technical instruments company’s stock valued at $41,000 after acquiring an additional 150 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Garmin during the 1st quarter valued at $45,000. Hedge funds and other institutional investors own 72.11% of the company’s stock.
Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices in the Americas, the Asia Pacific, Australian Continent, Europe, the Middle East, and Africa. Its Fitness segment offers running and multi-sport watches; cycling products; activity tracking and smartwatch devices; and fitness and cycling accessories.
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