Cetera Advisors LLC Trims Holdings in Garmin Ltd. (GRMN)

Cetera Advisors LLC lowered its position in Garmin Ltd. (NASDAQ:GRMN) by 25.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 7,824 shares of the scientific and technical instruments company’s stock after selling 2,715 shares during the period. Cetera Advisors LLC’s holdings in Garmin were worth $467,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Ffcm LLC lifted its position in shares of Garmin by 29.7% in the 4th quarter. Ffcm LLC now owns 12,845 shares of the scientific and technical instruments company’s stock worth $765,000 after acquiring an additional 2,940 shares during the period. California Public Employees Retirement System raised its holdings in shares of Garmin by 2.2% in the 4th quarter. California Public Employees Retirement System now owns 356,379 shares of the scientific and technical instruments company’s stock worth $21,229,000 after buying an additional 7,722 shares in the last quarter. M&T Bank Corp raised its holdings in shares of Garmin by 9.0% in the 4th quarter. M&T Bank Corp now owns 44,105 shares of the scientific and technical instruments company’s stock worth $2,628,000 after buying an additional 3,651 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Garmin by 232.3% in the 4th quarter. Teacher Retirement System of Texas now owns 53,612 shares of the scientific and technical instruments company’s stock worth $3,194,000 after buying an additional 37,477 shares in the last quarter. Finally, Crescent Grove Advisors LLC raised its holdings in shares of Garmin by 12.5% in the 4th quarter. Crescent Grove Advisors LLC now owns 9,000 shares of the scientific and technical instruments company’s stock worth $536,000 after buying an additional 1,000 shares in the last quarter. Institutional investors own 41.05% of the company’s stock.

In related news, major shareholder Jonathan Burrell sold 254,000 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $62.45, for a total transaction of $15,862,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sean Biddlecombe sold 755 shares of the firm’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $60.80, for a total value of $45,904.00. The disclosure for this sale can be found here. Insiders have sold a total of 257,208 shares of company stock valued at $16,060,069 over the last ninety days. Insiders own 18.30% of the company’s stock.

GRMN has been the subject of a number of recent research reports. KeyCorp reissued a “hold” rating on shares of Garmin in a report on Wednesday, November 1st. Zacks Investment Research raised Garmin from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a report on Thursday, November 2nd. Morgan Stanley increased their target price on Garmin from $52.00 to $57.00 and gave the stock an “equal weight” rating in a report on Thursday, November 2nd. ValuEngine raised Garmin from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Finally, BidaskClub cut Garmin from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. Three 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 has a consensus rating of “Hold” and an average price target of $56.71.

Shares of Garmin Ltd. (GRMN) opened at $65.21 on Monday. Garmin Ltd. has a twelve month low of $48.50 and a twelve month high of $65.51. The firm has a market capitalization of $12,226.88, a price-to-earnings ratio of 17.77, a P/E/G ratio of 2.64 and a beta of 0.94.

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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.

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Institutional Ownership by Quarter for Garmin (NASDAQ:GRMN)

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