Summit Trail Advisors LLC Acquires Shares of 2,475 Garmin Ltd. (NYSE:GRMN)

Summit Trail Advisors LLC bought a new position in Garmin Ltd. (NYSE:GRMN) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,475 shares of the scientific and technical instruments company’s stock, valued at approximately $510,000.

Several other institutional investors also recently modified their holdings of the business. State Street Corp boosted its position 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 during the last quarter. Geode Capital Management LLC boosted its holdings 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 buying an additional 112,815 shares during the last quarter. FMR LLC grew its position in Garmin by 40.8% during the third quarter. FMR LLC now owns 3,775,154 shares of the scientific and technical instruments company’s stock valued at $664,540,000 after buying an additional 1,093,219 shares during the period. Disciplined Growth Investors Inc. MN increased its holdings in Garmin by 3.6% during the third 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 buying an additional 48,645 shares during the last quarter. Finally, Captrust Financial Advisors raised its position in Garmin by 4.1% in 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 acquiring an additional 30,011 shares during the period. 81.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Tigress Financial raised their price target 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. Barclays raised their target price on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research report on Friday, November 1st. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Garmin has a consensus rating of “Hold” and an average price target of $171.00.

Insider Buying and Selling at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 1,761 shares of Garmin stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $207.99, for a total transaction of $366,270.39. Following the completion of the transaction, the chief financial officer now owns 27,612 shares of the company’s stock, valued at $5,743,019.88. The trade was a 6.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 19.54% of the company’s stock.

Garmin Trading Down 2.0 %

Shares of GRMN stock opened at $211.46 on Wednesday. The firm’s 50 day moving average is $213.16 and its 200 day moving average is $192.91. The stock has a market capitalization of $40.60 billion, a P/E ratio of 26.84, a PEG ratio of 1.33 and a beta of 0.98. Garmin Ltd. has a 12 month low of $120.06 and a 12 month high of $223.33.

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.