Northcape Wealth Management LLC Invests $208,000 in Garmin Ltd. (NYSE:GRMN)

Northcape Wealth Management LLC purchased a new stake in Garmin Ltd. (NYSE:GRMN) in the fourth quarter, Holdings Channel reports. The firm purchased 1,009 shares of the scientific and technical instruments company’s stock, valued at approximately $208,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. raised its position in Garmin by 1.7% during the 4th quarter. Geneos Wealth Management Inc. now owns 2,863 shares of the scientific and technical instruments company’s stock valued at $591,000 after purchasing an additional 49 shares in the last quarter. Curbstone Financial Management Corp raised its holdings in shares of Garmin by 1.3% in the fourth quarter. Curbstone Financial Management Corp now owns 3,886 shares of the scientific and technical instruments company’s stock valued at $802,000 after acquiring an additional 50 shares in the last quarter. HB Wealth Management LLC raised its holdings in shares of Garmin by 1.4% in the fourth quarter. HB Wealth Management LLC now owns 3,821 shares of the scientific and technical instruments company’s stock valued at $788,000 after acquiring an additional 53 shares in the last quarter. Outlook Wealth Advisors LLC lifted its stake in Garmin by 2.6% in the fourth quarter. Outlook Wealth Advisors LLC now owns 2,332 shares of the scientific and technical instruments company’s stock worth $481,000 after acquiring an additional 58 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Garmin by 8.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 804 shares of the scientific and technical instruments company’s stock worth $166,000 after acquiring an additional 63 shares in the last quarter. Institutional investors own 81.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GRMN shares. Barclays upped their price target on shares of Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research 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 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 company’s stock. According to MarketBeat.com, Garmin presently has a consensus rating of “Hold” and an average price target of $171.00.

Insider Activity

In related news, CFO Douglas G. Boessen sold 1,761 shares of the stock in a transaction that occurred on 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 $5,743,019.88. This trade represents a 6.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 19.54% of the company’s stock.

Garmin Stock Up 1.0 %

NYSE:GRMN opened at $214.78 on Wednesday. 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. Garmin Ltd. has a 52 week low of $121.20 and a 52 week high of $223.33. The firm has a 50 day moving average of $212.63 and a 200 day moving average of $194.17.

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.