Garmin Ltd. (NYSE:GRMN) Position Lifted by Yousif Capital Management LLC

Yousif Capital Management LLC grew its stake in shares of Garmin Ltd. (NYSE:GRMN) by 3.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 20,824 shares of the scientific and technical instruments company’s stock after purchasing an additional 699 shares during the quarter. Yousif Capital Management LLC’s holdings in Garmin were worth $4,295,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp grew its stake in Garmin by 2.0% in the third 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 purchasing an additional 134,303 shares in the last quarter. Geode Capital Management LLC grew its position in shares of 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 in the last quarter. FMR LLC increased its holdings in shares of 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 valued at $664,540,000 after acquiring an additional 1,093,219 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its position in shares of Garmin by 3.6% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,401,004 shares of the scientific and technical instruments company’s stock valued at $246,619,000 after acquiring an additional 48,645 shares in the last quarter. Finally, Captrust Financial Advisors lifted its stake in Garmin by 4.1% during the third quarter. Captrust Financial Advisors now owns 767,729 shares of the scientific and technical instruments company’s stock worth $135,143,000 after purchasing an additional 30,011 shares during the last quarter. Institutional investors own 81.60% of the company’s stock.

Analyst Upgrades and Downgrades

GRMN has been the topic of a number of research reports. Barclays increased their target price on shares of Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Tigress Financial increased their price objective on shares of Garmin from $215.00 to $265.00 and gave the stock 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 assigned a strong buy rating to the stock. According to MarketBeat, Garmin presently has a consensus rating of “Hold” and an average target price of $171.00.

Garmin Stock Performance

Garmin stock opened at $217.52 on Friday. The company has a 50-day simple moving average of $213.02 and a 200-day simple moving average of $192.02. The firm has a market capitalization of $41.77 billion, a P/E ratio of 27.60, a P/E/G ratio of 1.30 and a beta of 0.98. Garmin Ltd. has a one year low of $120.06 and a one year high of $223.33.

Insider Buying and Selling at Garmin

In other news, CFO Douglas G. Boessen sold 1,761 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $5,743,019.88. This trade represents a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 19.54% of the stock is owned by company insiders.

Garmin Company 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.