Garmin Ltd. (NYSE:GRMN) Shares Sold by Swiss National Bank

Swiss National Bank trimmed its holdings in Garmin Ltd. (NYSE:GRMNFree Report) by 11.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 492,200 shares of the scientific and technical instruments company’s stock after selling 60,700 shares during the quarter. Swiss National Bank owned approximately 0.26% of Garmin worth $51,779,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Financial Gravity Asset Management Inc. increased its stake in Garmin by 155.2% in the 2nd quarter. Financial Gravity Asset Management Inc. now owns 171 shares of the scientific and technical instruments company’s stock valued at $433,000 after buying an additional 104 shares during the period. Avior Wealth Management LLC increased its stake in shares of Garmin by 169.5% during the third quarter. Avior Wealth Management LLC now owns 283 shares of the scientific and technical instruments company’s stock worth $30,000 after acquiring an additional 178 shares during the period. Clear Street Markets LLC raised its holdings in Garmin by 107.1% during the first quarter. Clear Street Markets LLC now owns 321 shares of the scientific and technical instruments company’s stock worth $32,000 after purchasing an additional 166 shares in the last quarter. NBC Securities Inc. acquired a new stake in Garmin in the third quarter valued at about $57,000. Finally, Industrial Alliance Investment Management Inc. acquired a new stake in Garmin in the fourth quarter valued at about $53,000. Hedge funds and other institutional investors own 63.26% of the company’s stock.

Garmin Stock Down 0.1 %

Shares of GRMN opened at $121.73 on Thursday. Garmin Ltd. has a fifty-two week low of $93.22 and a fifty-two week high of $129.32. The company’s fifty day moving average is $124.73 and its two-hundred day moving average is $113.68. The firm has a market cap of $23.29 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 3.97 and a beta of 0.97.

Insider Transactions at Garmin

In other news, CEO Clifton A. Pemble sold 5,000 shares of the stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $120.00, for a total value of $600,000.00. Following the completion of the sale, the chief executive officer now owns 115,629 shares of the company’s stock, valued at $13,875,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Clifton A. Pemble sold 1,095 shares of the firm’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $125.89, for a total transaction of $137,849.55. Following the completion of the sale, the chief executive officer now directly owns 130,365 shares of the company’s stock, valued at approximately $16,411,649.85. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Clifton A. Pemble sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $120.00, for a total transaction of $600,000.00. Following the completion of the transaction, the chief executive officer now directly owns 115,629 shares of the company’s stock, valued at $13,875,480. The disclosure for this sale can be found here. Company insiders own 19.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. StockNews.com upgraded shares of Garmin from a “hold” rating to a “buy” rating in a research report on Thursday, February 1st. Morgan Stanley dropped their target price on shares of Garmin from $103.00 to $100.00 and set an “equal weight” rating for the company in a report on Thursday, November 2nd. JPMorgan Chase & Co. cut Garmin from an “overweight” rating to a “neutral” rating and set a $135.00 price target on the stock. in a report on Monday, January 8th. Finally, Barclays lifted their price objective on Garmin from $113.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, November 2nd. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $127.80.

Check Out Our Latest Stock Analysis on GRMN

Garmin Company Profile

(Free Report)

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; fitness and cycling accessories.

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Institutional Ownership by Quarter for Garmin (NYSE:GRMN)

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