Moody National Bank Trust Division lowered its stake in shares of Garmin Ltd. (NYSE:GRMN – Free Report) by 7.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,943 shares of the scientific and technical instruments company’s stock after selling 225 shares during the quarter. Moody National Bank Trust Division’s holdings in Garmin were worth $607,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. University of Texas Texas AM Investment Management Co. purchased a new position in Garmin in the second quarter valued at about $31,000. Larson Financial Group LLC raised its holdings in shares of Garmin by 578.6% in the 3rd quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 162 shares during the period. Itau Unibanco Holding S.A. purchased a new position in Garmin in the third quarter valued at approximately $39,000. Benjamin Edwards Inc. grew its holdings in Garmin by 73.3% during the second quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock valued at $38,000 after purchasing an additional 99 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in Garmin in the second quarter worth $46,000. 81.60% of the stock is owned by hedge funds and other institutional investors.
Garmin Stock Up 1.6 %
GRMN stock opened at $211.73 on Wednesday. The stock has a 50-day simple moving average of $211.24 and a two-hundred day simple moving average of $186.36. Garmin Ltd. has a twelve month low of $119.15 and a twelve month high of $222.97. The firm has a market capitalization of $40.66 billion, a PE ratio of 26.87, a PEG ratio of 1.42 and a beta of 0.98.
Insider Activity at Garmin
In other news, Director Sean Biddlecombe sold 587 shares of the firm’s stock in a transaction 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 sale, the director now owns 6,147 shares in the company, valued at approximately $1,291,484.70. This trade represents a 8.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Douglas G. Boessen sold 1,761 shares of Garmin 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 sale, the chief financial officer now directly owns 27,612 shares of the company’s stock, valued at $5,743,019.88. This represents 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 corporate insiders.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on GRMN. Morgan Stanley cut Garmin from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $155.00 to $138.00 in a research report on Monday, October 7th. Barclays upped their price objective on shares of Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a report on Friday, November 1st. Finally, Tigress Financial lifted their target price on shares of Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research note on Monday, December 16th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued 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.
Get Our Latest Stock Analysis on Garmin
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.
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