Kestra Investment Management LLC Boosts Stake in Garmin Ltd. (NYSE:GRMN)

Kestra Investment Management LLC raised its holdings in Garmin Ltd. (NYSE:GRMN) by 53.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 4,759 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,649 shares during the period. Kestra Investment Management LLC’s holdings in Garmin were worth $982,000 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 business. State Street Corp raised its position in Garmin by 2.0% in the third quarter. State Street Corp now owns 6,912,536 shares of the scientific and technical instruments company’s stock valued at $1,216,819,000 after purchasing an additional 134,303 shares during the period. Geode Capital Management LLC grew its stake in shares of Garmin by 2.7% in 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 grew its stake in shares of Garmin by 40.8% in 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 shares of Garmin by 3.6% in the third quarter. Disciplined Growth Investors Inc. MN now owns 1,401,004 shares of the scientific and technical instruments company’s stock valued at $246,619,000 after buying an additional 48,645 shares in the last quarter. Finally, Captrust Financial Advisors grew its stake 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 valued at $135,143,000 after buying an additional 30,011 shares in the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, CFO Douglas G. Boessen sold 1,761 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was 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 directly owns 27,612 shares of the company’s stock, valued at approximately $5,743,019.88. This represents a 6.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 19.54% of the stock is currently owned by insiders.

Garmin Price Performance

GRMN opened at $214.78 on Wednesday. Garmin Ltd. has a 12 month low of $121.20 and a 12 month high of $223.33. The stock has a market capitalization of $41.24 billion, a price-to-earnings ratio of 27.26, a PEG ratio of 1.33 and a beta of 0.98. The business has a fifty day moving average price of $212.63 and a 200 day moving average price of $194.17.

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.