Savant Capital LLC Acquires 3,861 Shares of Garmin Ltd. $GRMN

Savant Capital LLC grew its holdings in Garmin Ltd. (NYSE:GRMN) by 22.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,246 shares of the scientific and technical instruments company’s stock after buying an additional 3,861 shares during the quarter. Savant Capital LLC’s holdings in Garmin were worth $5,231,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Mather Group LLC. grew its stake in shares of Garmin by 1.2% during the third quarter. Mather Group LLC. now owns 3,749 shares of the scientific and technical instruments company’s stock worth $923,000 after purchasing an additional 44 shares during the period. Smith Moore & CO. grew its position in shares of Garmin by 4.3% during the 2nd quarter. Smith Moore & CO. now owns 1,151 shares of the scientific and technical instruments company’s stock worth $240,000 after buying an additional 47 shares during the period. BSW Wealth Partners increased its stake in shares of Garmin by 2.9% in the 3rd quarter. BSW Wealth Partners now owns 1,724 shares of the scientific and technical instruments company’s stock valued at $425,000 after acquiring an additional 48 shares during the last quarter. Curbstone Financial Management Corp increased its stake in shares of Garmin by 1.3% in the 2nd quarter. Curbstone Financial Management Corp now owns 3,936 shares of the scientific and technical instruments company’s stock valued at $822,000 after acquiring an additional 50 shares during the last quarter. Finally, SYM FINANCIAL Corp raised its position in shares of Garmin by 4.0% in the 3rd quarter. SYM FINANCIAL Corp now owns 1,294 shares of the scientific and technical instruments company’s stock valued at $319,000 after acquiring an additional 50 shares during the period. Institutional investors own 81.60% of the company’s stock.

Garmin Stock Performance

GRMN stock opened at $199.19 on Friday. The company has a market capitalization of $38.31 billion, a P/E ratio of 24.53, a PEG ratio of 2.17 and a beta of 1.00. The company has a fifty day moving average price of $205.32 and a 200-day moving average price of $221.41. Garmin Ltd. has a 52-week low of $169.26 and a 52-week high of $261.69.

Insider Activity at Garmin

In related news, COO Patrick Desbois sold 3,678 shares of Garmin stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $210.40, for a total value of $773,851.20. Following the completion of the sale, the chief operating officer owned 61,798 shares of the company’s stock, valued at approximately $13,002,299.20. This trade represents a 5.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Douglas G. Boessen sold 2,485 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $206.26, for a total transaction of $512,556.10. Following the transaction, the chief financial officer owned 28,916 shares in the company, valued at approximately $5,964,214.16. The trade was a 7.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,594 shares of company stock worth $3,437,592 in the last 90 days. Corporate insiders own 15.38% of the company’s stock.

Analysts Set New Price Targets

GRMN has been the subject of several recent analyst reports. Morgan Stanley increased their price target on Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a report on Thursday, October 30th. Barclays raised Garmin from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $208.00 to $217.00 in a research note on Friday, January 16th. Longbow Research raised shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price target on the stock in a research note on Wednesday, December 3rd. Tigress Financial reissued a “strong-buy” rating on shares of Garmin in a research report on Friday, December 19th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $244.40.

Garmin Company Profile

Garmin Ltd. is a technology company best known for designing and manufacturing navigation, communication and information devices that leverage global positioning system (GPS) technology. The company serves a diverse set of markets including consumer fitness and wearables, automotive navigation, aviation avionics, marine electronics and outdoor handheld devices. Garmin’s products combine hardware, mapping and software services to deliver location-aware solutions for personal, recreational and professional uses.

Garmin’s product lineup includes wearable fitness and multisport watches (Forerunner, Fenix, Venu), cycling computers and accessories (Edge, Varia), handheld and handheld-mounted GPS devices for outdoor activities, automotive and portable navigation units, marine chartplotters and fishfinders, and certified avionics for fixed- and rotary-wing aircraft.