Summit Trail Advisors LLC Buys New Shares in Garmin Ltd. (NYSE:GRMN)

Summit Trail Advisors LLC purchased a new stake in shares of Garmin Ltd. (NYSE:GRMN) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,475 shares of the scientific and technical instruments company’s stock, valued at approximately $510,000.

A number of other large investors have also recently bought and sold shares of GRMN. Geneos Wealth Management Inc. boosted its position in shares of Garmin by 1.7% during the 4th quarter. Geneos Wealth Management Inc. now owns 2,863 shares of the scientific and technical instruments company’s stock valued at $591,000 after purchasing an additional 49 shares in the last quarter. Curbstone Financial Management Corp boosted its holdings in shares of Garmin by 1.3% during the 4th quarter. Curbstone Financial Management Corp now owns 3,886 shares of the scientific and technical instruments company’s stock worth $802,000 after buying an additional 50 shares in the last quarter. HB Wealth Management LLC boosted its holdings in shares of Garmin by 1.4% during the 4th quarter. HB Wealth Management LLC now owns 3,821 shares of the scientific and technical instruments company’s stock worth $788,000 after buying an additional 53 shares in the last quarter. Outlook Wealth Advisors LLC grew its position in shares of Garmin by 2.6% during the 4th quarter. Outlook Wealth Advisors LLC now owns 2,332 shares of the scientific and technical instruments company’s stock worth $481,000 after buying an additional 58 shares during the period. Finally, Sumitomo Life Insurance Co. increased its stake in shares of Garmin by 0.9% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 6,686 shares of the scientific and technical instruments company’s stock valued at $1,177,000 after acquiring an additional 61 shares in the last quarter. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Douglas G. Boessen sold 1,761 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $207.99, for a total value of $366,270.39. Following the completion of the sale, the chief financial officer now directly owns 27,612 shares of the company’s stock, valued at approximately $5,743,019.88. This represents a 6.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 19.54% of the stock is currently owned by company insiders.

Garmin Trading Down 2.0 %

Garmin stock opened at $211.46 on Wednesday. The firm has a market capitalization of $40.60 billion, a price-to-earnings ratio of 26.84, a price-to-earnings-growth ratio of 1.33 and a beta of 0.98. The firm’s fifty day moving average price is $213.16 and its two-hundred day moving average price is $192.91. Garmin Ltd. has a 1-year low of $120.06 and a 1-year high of $223.33.

Analysts Set New Price Targets

Several brokerages recently issued reports on GRMN. Barclays increased their target price on shares of Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research note on Friday, November 1st. Tigress Financial raised their target price on Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a research note on Monday, December 16th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $171.00.

About Garmin

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.