Apollon Wealth Management LLC Boosts Holdings in Garmin Ltd. (NYSE:GRMN)

Apollon Wealth Management LLC lifted its stake in shares of Garmin Ltd. (NYSE:GRMN) by 46.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,962 shares of the scientific and technical instruments company’s stock after acquiring an additional 6,289 shares during the period. Apollon Wealth Management LLC’s holdings in Garmin were worth $4,117,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. State Street Corp raised its holdings in shares of Garmin by 2.0% in the 3rd quarter. State Street Corp now owns 6,912,536 shares of the scientific and technical instruments company’s stock worth $1,216,819,000 after purchasing an additional 134,303 shares during the period. Geode Capital Management LLC lifted its position in Garmin by 2.7% during the third quarter. Geode Capital Management LLC now owns 4,363,464 shares of the scientific and technical instruments company’s stock valued at $765,912,000 after buying an additional 112,815 shares in the last quarter. FMR LLC lifted its position in Garmin by 40.8% during the third quarter. FMR LLC now owns 3,775,154 shares of the scientific and technical instruments company’s stock valued at $664,540,000 after buying an additional 1,093,219 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its stake in Garmin by 3.6% during the third quarter. Disciplined Growth Investors Inc. MN now owns 1,401,004 shares of the scientific and technical instruments company’s stock worth $246,619,000 after buying an additional 48,645 shares during the period. Finally, Captrust Financial Advisors increased its position in shares of Garmin by 4.1% in the third quarter. Captrust Financial Advisors now owns 767,729 shares of the scientific and technical instruments company’s stock worth $135,143,000 after acquiring an additional 30,011 shares in the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

Garmin Stock Performance

Shares of NYSE GRMN opened at $217.52 on Friday. The firm has a market cap of $41.77 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 1.33 and a beta of 0.98. Garmin Ltd. has a 1 year low of $120.06 and a 1 year high of $223.33. The stock’s 50-day simple moving average is $213.12 and its 200-day simple moving average is $192.33.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Barclays lifted their target price on shares of Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a report on Friday, November 1st. Tigress Financial upped their target price on Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research report on Monday, December 16th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $171.00.

Insiders Place Their Bets

In other news, CFO Douglas G. Boessen sold 1,761 shares of the business’s 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 sale, the chief financial officer now 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 19.54% of the stock is owned by company insiders.

Garmin Company 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.