Teacher Retirement System of Texas Buys 37,477 Shares of Garmin Ltd. (GRMN)

Teacher Retirement System of Texas increased its stake in Garmin Ltd. (NASDAQ:GRMN) by 232.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 53,612 shares of the scientific and technical instruments company’s stock after buying an additional 37,477 shares during the quarter. Teacher Retirement System of Texas’ holdings in Garmin were worth $3,194,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. boosted its stake in Garmin by 24.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,012,907 shares of the scientific and technical instruments company’s stock valued at $119,907,000 after purchasing an additional 393,740 shares during the last quarter. PGGM Investments boosted its stake in Garmin by 414.6% during the 3rd quarter. PGGM Investments now owns 357,535 shares of the scientific and technical instruments company’s stock valued at $19,296,000 after purchasing an additional 288,061 shares during the last quarter. American Century Companies Inc. boosted its stake in Garmin by 33.0% during the 3rd quarter. American Century Companies Inc. now owns 789,017 shares of the scientific and technical instruments company’s stock valued at $42,583,000 after purchasing an additional 195,908 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in Garmin by 6,596.9% during the 3rd quarter. Asset Management One Co. Ltd. now owns 189,389 shares of the scientific and technical instruments company’s stock valued at $10,222,000 after purchasing an additional 186,561 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Garmin by 1,755.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 178,643 shares of the scientific and technical instruments company’s stock valued at $10,642,000 after purchasing an additional 169,013 shares during the last quarter. Institutional investors own 40.57% of the company’s stock.

GRMN has been the topic of several recent analyst reports. Zacks Investment Research upgraded Garmin from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research note on Thursday, January 4th. ValuEngine upgraded Garmin from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. BidaskClub downgraded Garmin from a “buy” rating to a “hold” rating in a research note on Friday, December 15th. Tigress Financial reiterated a “buy” rating on shares of Garmin in a research note on Friday, December 15th. Finally, Credit Suisse Group reiterated an “underperform” rating and set a $58.00 target price (up from $48.00) on shares of Garmin in a research note on Tuesday, December 12th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $56.71.

Garmin Ltd. (GRMN) opened at $65.21 on Tuesday. The firm has a market capitalization of $12,226.88, a price-to-earnings ratio of 17.77, a PEG ratio of 2.63 and a beta of 0.95. Garmin Ltd. has a twelve month low of $48.50 and a twelve month high of $65.51.

In other news, insider Sean Biddlecombe sold 755 shares of the 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Jonathan Burrell sold 254,000 shares of the stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $62.45, for a total value of $15,862,300.00. The disclosure for this sale can be found here. 18.30% of the stock is owned by corporate insiders.

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Garmin 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.

Want to see what other hedge funds are holding GRMN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Garmin Ltd. (NASDAQ:GRMN).

Institutional Ownership by Quarter for Garmin (NASDAQ:GRMN)

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