Commonwealth of Pennsylvania Public School Empls Retrmt SYS Increases Stake in Garmin Ltd. (NYSE:GRMN)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Garmin Ltd. (NYSE:GRMNFree Report) by 15.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,796 shares of the scientific and technical instruments company’s stock after acquiring an additional 4,107 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Garmin were worth $3,240,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Garmin by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 17,276,118 shares of the scientific and technical instruments company’s stock worth $2,049,121,000 after acquiring an additional 365,713 shares during the period. BlackRock Inc. raised its position in shares of Garmin by 3.5% during the second quarter. BlackRock Inc. now owns 15,562,275 shares of the scientific and technical instruments company’s stock valued at $1,622,990,000 after buying an additional 527,327 shares during the last quarter. Artisan Partners Limited Partnership raised its position in shares of Garmin by 2.5% during the third quarter. Artisan Partners Limited Partnership now owns 7,246,834 shares of the scientific and technical instruments company’s stock valued at $762,367,000 after buying an additional 176,510 shares during the last quarter. State Street Corp raised its position in shares of Garmin by 5.5% during the third quarter. State Street Corp now owns 6,798,228 shares of the scientific and technical instruments company’s stock valued at $545,971,000 after buying an additional 355,087 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Garmin by 2.2% during the second quarter. Geode Capital Management LLC now owns 3,508,214 shares of the scientific and technical instruments company’s stock valued at $364,987,000 after buying an additional 74,703 shares during the last quarter. Institutional investors own 63.26% of the company’s stock.

Analyst Ratings Changes

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

Get Our Latest Report on Garmin

Insider Activity

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

Garmin Stock Up 0.3 %

NYSE GRMN opened at $123.62 on Tuesday. Garmin Ltd. has a 52 week low of $93.22 and a 52 week high of $129.32. The firm has a market capitalization of $23.65 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 4.02 and a beta of 0.97. The company has a fifty day moving average of $124.72 and a two-hundred day moving average of $114.10.

About Garmin

(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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