Schroder Investment Management Group lifted its stake in shares of Garmin Ltd. (NASDAQ:GRMN) by 12.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,460,465 shares of the scientific and technical instruments company’s stock after purchasing an additional 163,211 shares during the period. Schroder Investment Management Group’s holdings in Garmin were worth $87,000,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. boosted its holdings in Garmin by 24.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,012,907 shares of the scientific and technical instruments company’s stock worth $119,907,000 after buying an additional 393,740 shares during the period. W. E. Donoghue & Co. LLC bought a new position in Garmin in the 2nd quarter worth approximately $15,800,000. PGGM Investments boosted its holdings in Garmin by 414.6% in the 3rd quarter. PGGM Investments now owns 357,535 shares of the scientific and technical instruments company’s stock worth $19,296,000 after buying an additional 288,061 shares during the period. Koch Industries Inc. bought a new position in Garmin in the 2nd quarter worth approximately $220,000. Finally, American Century Companies Inc. boosted its holdings in Garmin by 33.0% in the 3rd quarter. American Century Companies Inc. now owns 789,017 shares of the scientific and technical instruments company’s stock worth $42,583,000 after buying an additional 195,908 shares during the period. Institutional investors own 41.05% of the company’s stock.
In other news, EVP Philip Straub sold 2,453 shares of Garmin stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $61.91, for a total transaction of $151,865.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sean Biddlecombe sold 755 shares of Garmin stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $60.80, for a total transaction of $45,904.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 257,208 shares of company stock valued at $16,060,069. Insiders own 18.30% of the company’s stock.
Several research firms recently commented on GRMN. BidaskClub raised shares of Garmin from a “hold” rating to a “buy” rating in a report on Thursday, February 8th. Zacks Investment Research raised shares of Garmin from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a report on Thursday, November 2nd. KeyCorp reaffirmed a “hold” rating on shares of Garmin in a report on Wednesday, November 1st. ValuEngine raised shares of Garmin from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Morgan Stanley raised their price target on shares of Garmin from $52.00 to $57.00 and gave the company an “equal weight” rating in a report on Thursday, November 2nd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. Garmin has a consensus rating of “Hold” and an average price target of $56.71.
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Garmin Company 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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