Rhumbline Advisers Has $30.26 Million Stake in Garmin Ltd. (NYSE:GRMN)

Rhumbline Advisers grew its holdings in Garmin Ltd. (NYSE:GRMNGet Rating) by 11.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 307,962 shares of the scientific and technical instruments company’s stock after acquiring an additional 32,121 shares during the period. Rhumbline Advisers’ holdings in Garmin were worth $30,257,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Boston Partners acquired a new stake in Garmin during the 1st quarter worth approximately $205,920,000. BlackRock Inc. increased its stake in Garmin by 8.2% during the 1st quarter. BlackRock Inc. now owns 14,264,641 shares of the scientific and technical instruments company’s stock worth $1,691,932,000 after acquiring an additional 1,077,004 shares during the period. Renaissance Technologies LLC increased its stake in Garmin by 195.2% during the 1st quarter. Renaissance Technologies LLC now owns 987,042 shares of the scientific and technical instruments company’s stock worth $117,073,000 after acquiring an additional 652,700 shares during the period. Vanguard Group Inc. increased its stake in Garmin by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 17,276,118 shares of the scientific and technical instruments company’s stock worth $2,049,121,000 after acquiring an additional 365,713 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Garmin by 24.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,033,889 shares of the scientific and technical instruments company’s stock worth $122,629,000 after acquiring an additional 203,515 shares during the period. 62.50% of the stock is owned by institutional investors and hedge funds.

Garmin Stock Up 0.2 %

Shares of GRMN stock opened at $90.65 on Thursday. The firm has a market capitalization of $17.37 billion, a P/E ratio of 18.17, a P/E/G ratio of 3.26 and a beta of 0.97. Garmin Ltd. has a twelve month low of $76.37 and a twelve month high of $143.89. The stock’s fifty day simple moving average is $84.46 and its 200 day simple moving average is $92.38.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. TheStreet lowered Garmin from a “b” rating to a “c+” rating in a research note on Wednesday, July 27th. Barclays assumed coverage on Garmin in a research note on Wednesday, November 9th. They issued an “equal weight” rating and a $97.00 price target on the stock. Tigress Financial decreased their price target on Garmin from $208.00 to $165.00 and set a “strong-buy” rating on the stock in a research note on Friday, August 5th. StockNews.com assumed coverage on Garmin in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Bank of America lowered Garmin from a “buy” rating to a “neutral” rating and decreased their price target for the company from $137.00 to $109.00 in a research note on Tuesday, August 2nd. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Garmin has an average rating of “Moderate Buy” and a consensus target price of $122.40.

Insider Buying and Selling

In other Garmin news, CEO Clifton A. Pemble sold 9,550 shares of Garmin stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $90.00, for a total transaction of $859,500.00. Following the transaction, the chief executive officer now directly owns 135,950 shares of the company’s stock, valued at approximately $12,235,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Garmin news, CEO Clifton A. Pemble sold 9,550 shares of Garmin stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $90.00, for a total transaction of $859,500.00. Following the transaction, the chief executive officer now directly owns 135,950 shares of the company’s stock, valued at approximately $12,235,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Clifton A. Pemble sold 19,836 shares of the business’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $90.00, for a total value of $1,785,240.00. Following the completion of the transaction, the chief executive officer now directly owns 125,664 shares in the company, valued at $11,309,760. The disclosure for this sale can be found here. Insiders have sold 29,589 shares of company stock worth $2,662,269 in the last 90 days. Insiders own 20.34% of the company’s stock.

About Garmin

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Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices in the Americas, the Asia Pacific, Australian Continent, Europe, the Middle East, and Africa. Its Fitness segment offers running and multi-sport watches; cycling products; activity tracking and smartwatch devices; and fitness and cycling accessories.

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Institutional Ownership by Quarter for Garmin (NYSE:GRMN)

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