Benchmark Financial Wealth Advisors LLC Boosts Stock Holdings in Garmin Ltd. (NYSE:GRMN)

Benchmark Financial Wealth Advisors LLC lifted its stake in Garmin Ltd. (NYSE:GRMN) by 6.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,951 shares of the scientific and technical instruments company’s stock after purchasing an additional 122 shares during the period. Benchmark Financial Wealth Advisors LLC’s holdings in Garmin were worth $402,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Citigroup Inc. grew its position in shares of Garmin by 123.2% during the third quarter. Citigroup Inc. now owns 283,412 shares of the scientific and technical instruments company’s stock worth $49,889,000 after buying an additional 156,441 shares in the last quarter. Dynamic Advisor Solutions LLC acquired a new stake in shares of Garmin in the 3rd quarter valued at $695,000. Trajan Wealth LLC lifted its position in shares of Garmin by 9.1% during the 3rd quarter. Trajan Wealth LLC now owns 82,362 shares of the scientific and technical instruments company’s stock worth $14,498,000 after purchasing an additional 6,878 shares during the last quarter. Passumpsic Savings Bank acquired a new position in shares of Garmin during the third quarter worth $3,137,000. Finally, Advisors Asset Management Inc. increased its holdings in Garmin by 24.2% in the third quarter. Advisors Asset Management Inc. now owns 17,529 shares of the scientific and technical instruments company’s stock valued at $3,086,000 after buying an additional 3,415 shares during the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

Garmin Stock Up 0.2 %

NYSE:GRMN opened at $218.71 on Thursday. Garmin Ltd. has a 52-week low of $120.06 and a 52-week high of $222.97. The stock’s 50 day moving average price is $212.74 and its 200 day moving average price is $191.63. The company has a market capitalization of $42.00 billion, a PE ratio of 27.75, a P/E/G ratio of 1.30 and a beta of 0.98.

Analyst Ratings Changes

Several research analysts have recently issued reports on GRMN shares. Tigress Financial upped their price objective on Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research report on Monday, December 16th. Barclays increased their price target on shares of Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research note on Friday, November 1st. Three research 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $171.00.

Insiders Place Their Bets

In other news, CFO Douglas G. Boessen sold 1,761 shares of Garmin stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $207.99, for a total transaction of $366,270.39. Following the sale, the chief financial officer now owns 27,612 shares in the company, valued at $5,743,019.88. This trade represents a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 19.54% of the stock is owned by corporate insiders.

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.