Savant Capital LLC Increases Stake in Garmin Ltd. $GRMN

Savant Capital LLC raised its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 22.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,246 shares of the scientific and technical instruments company’s stock after purchasing an additional 3,861 shares during the quarter. Savant Capital LLC’s holdings in Garmin were worth $5,231,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of GRMN. Andra AP fonden grew its holdings in shares of Garmin by 87.2% during the second quarter. Andra AP fonden now owns 67,000 shares of the scientific and technical instruments company’s stock valued at $13,984,000 after buying an additional 31,200 shares during the last quarter. First Horizon Advisors Inc. lifted its position in Garmin by 4.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 121,552 shares of the scientific and technical instruments company’s stock valued at $25,370,000 after acquiring an additional 4,943 shares in the last quarter. EFG Asset Management Americas Corp. boosted its stake in Garmin by 34.1% during the 2nd quarter. EFG Asset Management Americas Corp. now owns 10,455 shares of the scientific and technical instruments company’s stock valued at $2,182,000 after purchasing an additional 2,659 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Garmin by 25.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,584 shares of the scientific and technical instruments company’s stock worth $5,314,000 after purchasing an additional 4,437 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Garmin by 6.9% in the 2nd quarter. Vanguard Group Inc. now owns 19,698,329 shares of the scientific and technical instruments company’s stock worth $4,111,435,000 after purchasing an additional 1,273,163 shares in the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Analysts Set New Price Targets

GRMN has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a report on Thursday, January 22nd. Longbow Research upgraded shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 target price on the stock in a research note on Wednesday, December 3rd. Tigress Financial reaffirmed a “strong-buy” rating on shares of Garmin in a report on Friday, December 19th. Morgan Stanley lifted their price target on shares of Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a research note on Thursday, October 30th. Finally, Barclays upgraded shares of Garmin from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $208.00 to $217.00 in a research report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $244.40.

Garmin Stock Down 3.0%

NYSE GRMN opened at $199.19 on Friday. The firm has a market cap of $38.31 billion, a price-to-earnings ratio of 24.53, a price-to-earnings-growth ratio of 2.17 and a beta of 1.00. The business has a 50-day moving average price of $205.32 and a 200-day moving average price of $221.41. Garmin Ltd. has a twelve month low of $169.26 and a twelve month high of $261.69.

Insiders Place Their Bets

In other news, CFO Douglas G. Boessen sold 2,485 shares of the company’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $206.26, for a total value of $512,556.10. Following the transaction, the chief financial officer directly owned 28,916 shares in the company, valued at approximately $5,964,214.16. This represents a 7.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Clifton A. Pemble sold 10,431 shares of the stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $206.23, for a total value of $2,151,185.13. Following the completion of the transaction, the chief executive officer directly owned 135,180 shares in the company, valued at approximately $27,878,171.40. This trade represents a 7.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 16,594 shares of company stock valued at $3,437,592 over the last ninety days. 15.38% of the stock is owned by insiders.

Garmin Company Profile

Garmin Ltd. is a technology company best known for designing and manufacturing navigation, communication and information devices that leverage global positioning system (GPS) technology. The company serves a diverse set of markets including consumer fitness and wearables, automotive navigation, aviation avionics, marine electronics and outdoor handheld devices. Garmin’s products combine hardware, mapping and software services to deliver location-aware solutions for personal, recreational and professional uses.

Garmin’s product lineup includes wearable fitness and multisport watches (Forerunner, Fenix, Venu), cycling computers and accessories (Edge, Varia), handheld and handheld-mounted GPS devices for outdoor activities, automotive and portable navigation units, marine chartplotters and fishfinders, and certified avionics for fixed- and rotary-wing aircraft.