Greenleaf Trust Raises Stock Position in Garmin Ltd. (NYSE:GRMN)

Greenleaf Trust grew its holdings in Garmin Ltd. (NYSE:GRMN) by 3.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,897 shares of the scientific and technical instruments company’s stock after acquiring an additional 114 shares during the period. Greenleaf Trust’s holdings in Garmin were worth $804,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Truist Financial Corp increased its stake in Garmin by 2.2% during the 2nd quarter. Truist Financial Corp now owns 6,743 shares of the scientific and technical instruments company’s stock worth $1,099,000 after buying an additional 148 shares during the period. Sanctuary Advisors LLC purchased a new stake in Garmin during the 2nd quarter worth $1,424,000. Czech National Bank increased its stake in Garmin by 7.0% during the 3rd quarter. Czech National Bank now owns 31,324 shares of the scientific and technical instruments company’s stock worth $5,514,000 after buying an additional 2,043 shares during the period. GAMMA Investing LLC increased its stake in Garmin by 23.5% during the 3rd quarter. GAMMA Investing LLC now owns 3,216 shares of the scientific and technical instruments company’s stock worth $566,000 after buying an additional 613 shares during the period. Finally, Fulton Bank N.A. increased its stake in Garmin by 5.4% during the 3rd quarter. Fulton Bank N.A. now owns 2,241 shares of the scientific and technical instruments company’s stock worth $394,000 after buying an additional 115 shares during the period. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Garmin Stock Performance

NYSE GRMN opened at $218.22 on Wednesday. Garmin Ltd. has a one year low of $119.31 and a one year high of $222.97. The company has a 50-day simple moving average of $212.63 and a 200-day simple moving average of $191.30. The firm has a market capitalization of $41.90 billion, a PE ratio of 27.69, a price-to-earnings-growth ratio of 1.30 and a beta of 0.98.

Analysts Set New Price Targets

Several equities research analysts recently issued reports 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 note on Friday, November 1st. Tigress Financial boosted their target price on shares of Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research report on Monday, December 16th. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $171.00.

Insider Activity

In other news, CFO Douglas G. Boessen sold 1,761 shares of Garmin stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $207.99, for a total value of $366,270.39. Following the completion of the transaction, the chief financial officer now directly owns 27,612 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Also, Director Sean Biddlecombe sold 587 shares of Garmin stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $210.10, for a total transaction of $123,328.70. Following the completion of the transaction, the director now directly owns 6,147 shares of the company’s stock, valued at $1,291,484.70. This trade represents a 8.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 19.54% of the company’s stock.

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.