Nissay Asset Management Corp Japan ADV increased its position in Garmin Ltd. (NASDAQ:GRMN) by 192.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,404 shares of the scientific and technical instruments company’s stock after buying an additional 19,340 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Garmin were worth $2,539,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc lifted its holdings in Garmin by 9.0% during the 3rd quarter. Vanguard Group Inc now owns 12,760,863 shares of the scientific and technical instruments company’s stock valued at $893,899,000 after purchasing an additional 1,057,737 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in Garmin by 4.5% during the 4th quarter. State of Alaska Department of Revenue now owns 38,868 shares of the scientific and technical instruments company’s stock valued at $2,459,000 after purchasing an additional 1,657 shares during the last quarter. Gateway Investment Advisers LLC lifted its holdings in Garmin by 40.2% during the 4th quarter. Gateway Investment Advisers LLC now owns 25,873 shares of the scientific and technical instruments company’s stock valued at $1,638,000 after purchasing an additional 7,419 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in Garmin during the 4th quarter valued at $420,000. Finally, Boston Advisors LLC acquired a new stake in Garmin during the 4th quarter valued at $4,382,000. Institutional investors own 43.42% of the company’s stock.
GRMN opened at $77.99 on Thursday. Garmin Ltd. has a fifty-two week low of $59.02 and a fifty-two week high of $89.72. The firm has a market cap of $15.31 billion, a PE ratio of 21.14, a PEG ratio of 2.81 and a beta of 0.90.
In related news, insider Clifton A. Pemble sold 2,683 shares of the firm’s stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $82.38, for a total value of $221,025.54. Following the transaction, the insider now owns 141,883 shares in the company, valued at $11,688,321.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Patrick Desbois sold 1,749 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $86.00, for a total value of $150,414.00. The disclosure for this sale can be found here. Insiders have sold 5,932 shares of company stock valued at $496,705 in the last three months. Insiders own 17.85% of the company’s stock.
GRMN has been the subject of several research reports. Credit Suisse Group raised their price target on Garmin from $58.00 to $71.00 and gave the company an “underperform” rating in a report on Monday, February 25th. Longbow Research set a $75.00 target price on Garmin and gave the stock a “buy” rating in a report on Tuesday, February 19th. ValuEngine downgraded Garmin from a “buy” rating to a “hold” rating in a report on Tuesday, February 19th. BidaskClub raised Garmin from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 13th. Finally, Morgan Stanley set a $81.00 target price on Garmin and gave the stock a “hold” rating in a report on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Garmin presently has a consensus rating of “Hold” and a consensus price target of $79.39.
Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices worldwide. It operates through five segments: Auto, Aviation, Marine, Outdoor, and Fitness. The Auto segment offers personal navigation devices; infotainment systems; and action cameras, as well as mobile applications under the Garmin and NAVIGON names.
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