6,609 Shares in Garmin Ltd. (NYSE:GRMN) Purchased by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. bought a new stake in shares of Garmin Ltd. (NYSE:GRMN) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 6,609 shares of the scientific and technical instruments company’s stock, valued at approximately $1,363,000.

Other institutional investors also recently modified their holdings of the company. Pinnacle Bancorp Inc. bought a new position in Garmin during the fourth quarter worth about $29,000. Larson Financial Group LLC raised its position 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 valued at $33,000 after acquiring an additional 162 shares during the period. Itau Unibanco Holding S.A. bought a new position in Garmin during the 3rd quarter worth approximately $39,000. Hager Investment Management Services LLC acquired a new position in Garmin during the fourth quarter valued at approximately $52,000. Finally, Capital Performance Advisors LLP acquired a new position in Garmin during the third quarter valued at approximately $59,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Insider Buying and Selling

In related news, CFO Douglas G. Boessen sold 1,761 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $207.99, for a total transaction of $366,270.39. Following the completion of the transaction, the chief financial officer now owns 27,612 shares in the company, valued at approximately $5,743,019.88. This represents a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 19.54% of the stock is owned by corporate insiders.

Garmin Trading Down 1.0 %

GRMN opened at $217.52 on Friday. The stock has a market capitalization of $41.77 billion, a P/E ratio of 27.60, a P/E/G ratio of 1.30 and a beta of 0.98. The firm’s fifty day simple moving average is $213.02 and its 200 day simple moving average is $192.02. Garmin Ltd. has a 12 month low of $120.06 and a 12 month high of $223.33.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Barclays lifted their price target on shares of Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research report on Friday, November 1st. Tigress Financial raised their price objective on Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research note on Monday, December 16th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $171.00.

Garmin 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.