Garmin Ltd. (GRMN) Holdings Cut by LS Investment Advisors LLC

LS Investment Advisors LLC trimmed its holdings in shares of Garmin Ltd. (NASDAQ:GRMN) by 18.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,789 shares of the scientific and technical instruments company’s stock after selling 1,524 shares during the period. LS Investment Advisors LLC’s holdings in Garmin were worth $404,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. California Public Employees Retirement System lifted its holdings in Garmin by 2.2% during the 4th quarter. California Public Employees Retirement System now owns 356,379 shares of the scientific and technical instruments company’s stock worth $21,229,000 after buying an additional 7,722 shares during the last quarter. M&T Bank Corp lifted its holdings in Garmin by 9.0% during the 4th quarter. M&T Bank Corp now owns 44,105 shares of the scientific and technical instruments company’s stock worth $2,628,000 after buying an additional 3,651 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in Garmin by 232.3% during the 4th quarter. Teacher Retirement System of Texas now owns 53,612 shares of the scientific and technical instruments company’s stock worth $3,194,000 after buying an additional 37,477 shares during the last quarter. Crescent Grove Advisors LLC lifted its holdings in Garmin by 12.5% during the 4th quarter. Crescent Grove Advisors LLC now owns 9,000 shares of the scientific and technical instruments company’s stock worth $536,000 after buying an additional 1,000 shares during the last quarter. Finally, ING Groep NV lifted its holdings in Garmin by 10.0% during the 4th quarter. ING Groep NV now owns 10,551 shares of the scientific and technical instruments company’s stock worth $629,000 after buying an additional 961 shares during the last quarter. 41.05% of the stock is owned by institutional investors.

In other news, insider Sean Biddlecombe sold 755 shares of the business’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $60.80, for a total value of $45,904.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Philip Straub sold 2,453 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $61.91, for a total value of $151,865.23. The disclosure for this sale can be found here. Insiders sold a total of 257,208 shares of company stock valued at $16,060,069 over the last three months. Company insiders own 18.30% of the company’s stock.

Shares of Garmin Ltd. (GRMN) opened at $65.21 on Friday. Garmin Ltd. has a fifty-two week low of $48.50 and a fifty-two week high of $65.51. The firm has a market capitalization of $12,226.88, a PE ratio of 22.64, a PEG ratio of 2.64 and a beta of 0.94.

GRMN has been the subject of a number of recent analyst reports. ValuEngine raised Garmin from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Morgan Stanley lifted their price target on Garmin from $52.00 to $57.00 and gave the stock an “equal weight” rating in a report on Thursday, November 2nd. BidaskClub downgraded Garmin from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. Zacks Investment Research raised Garmin from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a report on Thursday, January 4th. Finally, Credit Suisse Group reaffirmed an “underperform” rating and set a $58.00 price target (up from $48.00) on shares of Garmin in a report on Tuesday, December 12th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. Garmin currently has a consensus rating of “Hold” and a consensus price target of $56.71.

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Garmin Profile

Garmin Ltd. (Garmin) and subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. The Company operates through five segments. It offers a range of auto navigation products, as well as a range of products and applications designed for the mobile GPS market. It offers products to consumers around the world, including Outdoor Handhelds, Wearable Devices, Golf Devices, and Dog Tracking and Training/Pet Obedience Devices.

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Institutional Ownership by Quarter for Garmin (NASDAQ:GRMN)

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