Buckingham Capital Management Inc. Reduces Stake in Garmin Ltd. (NYSE:GRMN)

Buckingham Capital Management Inc. decreased its stake in shares of Garmin Ltd. (NYSE:GRMN) by 4.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 11,164 shares of the scientific and technical instruments company’s stock after selling 551 shares during the period. Buckingham Capital Management Inc.’s holdings in Garmin were worth $2,303,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. State Street Corp increased its stake in Garmin by 2.0% in the 3rd quarter. State Street Corp now owns 6,912,536 shares of the scientific and technical instruments company’s stock worth $1,216,819,000 after acquiring an additional 134,303 shares during the last quarter. Geode Capital Management LLC increased its stake in Garmin by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,363,464 shares of the scientific and technical instruments company’s stock worth $765,912,000 after acquiring an additional 112,815 shares during the last quarter. FMR LLC increased its stake in Garmin by 40.8% in the 3rd quarter. FMR LLC now owns 3,775,154 shares of the scientific and technical instruments company’s stock worth $664,540,000 after acquiring an additional 1,093,219 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its stake in Garmin by 3.6% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,401,004 shares of the scientific and technical instruments company’s stock worth $246,619,000 after acquiring an additional 48,645 shares during the last quarter. Finally, Captrust Financial Advisors increased its stake in Garmin by 4.1% in the 3rd quarter. Captrust Financial Advisors now owns 767,729 shares of the scientific and technical instruments company’s stock worth $135,143,000 after acquiring an additional 30,011 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors.

Garmin Trading Up 1.0 %

Shares of Garmin stock opened at $212.37 on Tuesday. The firm has a market capitalization of $40.78 billion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 1.33 and a beta of 0.98. The business’s 50-day moving average price is $212.77 and its 200-day moving average price is $193.88. Garmin Ltd. has a 12 month low of $121.20 and a 12 month high of $223.33.

Insider Activity

In related news, CFO Douglas G. Boessen sold 1,761 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $207.99, for a total transaction of $366,270.39. Following the transaction, the chief financial officer now directly owns 27,612 shares in the company, valued at $5,743,019.88. This trade represents a 6.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 19.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Barclays upped their target price on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research note on Friday, November 1st. Tigress Financial increased their price objective on Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a research report 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $171.00.

Garmin Profile

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.