Farmers & Merchants Investments Inc. Boosts Holdings in Garmin Ltd. (NYSE:GRMN)

Farmers & Merchants Investments Inc. grew its position in Garmin Ltd. (NYSE:GRMN) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,220 shares of the scientific and technical instruments company’s stock after purchasing an additional 80 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Garmin were worth $664,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. State Street Corp raised its holdings in shares of 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 worth $1,216,819,000 after buying an additional 134,303 shares during the last quarter. Geode Capital Management LLC raised 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 worth $765,912,000 after purchasing an additional 112,815 shares during the last quarter. FMR LLC lifted its holdings in shares of 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 worth $664,540,000 after purchasing an additional 1,093,219 shares during the period. Disciplined Growth Investors Inc. MN increased its holdings in Garmin by 3.6% in the 3rd 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 raised its position in Garmin by 4.1% during the 3rd quarter. Captrust Financial Advisors now owns 767,729 shares of the scientific and technical instruments company’s stock worth $135,143,000 after buying an additional 30,011 shares during the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

Garmin Trading Down 1.0 %

Shares of GRMN stock opened at $217.52 on Friday. Garmin Ltd. has a 12-month low of $120.06 and a 12-month high of $223.33. The business’s 50 day moving average is $213.12 and its two-hundred day moving average is $192.33. The company has a market capitalization of $41.77 billion, a P/E ratio of 27.60, a P/E/G ratio of 1.33 and a beta of 0.98.

Analysts Set New Price Targets

GRMN has been the topic of a number of research reports. Barclays increased their price objective 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 raised their target price on Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a report on Monday, December 16th. Three 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 company has an average rating of “Hold” and a consensus price target of $171.00.

Insider Buying and Selling

In other news, CFO Douglas G. Boessen sold 1,761 shares of Garmin 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 sale, the chief financial officer now directly owns 27,612 shares of the company’s stock, valued at $5,743,019.88. The trade was a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 19.54% of the stock is owned by insiders.

About Garmin

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.