Vest Financial LLC Boosts Stock Position in Garmin Ltd. (NYSE:GRMN)

Vest Financial LLC grew its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 1.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 168,309 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,067 shares during the quarter. Vest Financial LLC’s holdings in Garmin were worth $34,715,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. SOA Wealth Advisors LLC. bought a new stake in shares of Garmin in the 4th quarter worth approximately $37,000. Realta Investment Advisors raised its position in shares of Garmin by 3.3% in the fourth quarter. Realta Investment Advisors now owns 4,735 shares of the scientific and technical instruments company’s stock valued at $981,000 after purchasing an additional 150 shares during the period. Golden State Wealth Management LLC purchased a new stake in shares of Garmin during the 4th quarter valued at approximately $26,000. Lecap Asset Management Ltd. bought a new position in Garmin in the 4th quarter worth approximately $1,363,000. Finally, Consolidated Portfolio Review Corp purchased a new position in Garmin in the 4th quarter valued at approximately $311,000. 81.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, CFO Douglas G. Boessen sold 1,761 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $207.99, for a total value of $366,270.39. Following the completion of the sale, the chief financial officer now owns 27,612 shares in the company, valued at $5,743,019.88. The trade was a 6.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 19.54% of the company’s stock.

Garmin Price Performance

Shares of GRMN opened at $217.52 on Friday. Garmin Ltd. has a 1-year low of $120.06 and a 1-year high of $223.33. The company 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 50 day simple moving average is $213.02 and its 200 day simple moving average is $192.02.

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.