2,896 Shares in Garmin Ltd. $GRMN Purchased by Versor Investments LP

Versor Investments LP acquired a new stake in shares of Garmin Ltd. (NYSE:GRMN) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,896 shares of the scientific and technical instruments company’s stock, valued at approximately $713,000.

Other large investors have also modified their holdings of the company. Brighton Jones LLC increased its stake in shares of Garmin by 31.3% in the fourth quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company’s stock valued at $401,000 after purchasing an additional 463 shares during the period. NewEdge Advisors LLC lifted its holdings in Garmin by 6.2% in the first quarter. NewEdge Advisors LLC now owns 5,885 shares of the scientific and technical instruments company’s stock worth $1,278,000 after purchasing an additional 345 shares during the period. Woodline Partners LP grew its position in Garmin by 40.6% in the 1st quarter. Woodline Partners LP now owns 13,017 shares of the scientific and technical instruments company’s stock valued at $2,826,000 after buying an additional 3,757 shares in the last quarter. Focus Partners Wealth raised its position in shares of Garmin by 51.1% during the 1st quarter. Focus Partners Wealth now owns 6,811 shares of the scientific and technical instruments company’s stock worth $1,479,000 after buying an additional 2,304 shares in the last quarter. Finally, Sivia Capital Partners LLC lifted its stake in shares of Garmin by 17.0% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,662 shares of the scientific and technical instruments company’s stock worth $347,000 after acquiring an additional 242 shares during the period. Institutional investors and hedge funds own 81.60% of the company’s stock.

Garmin Stock Performance

Garmin stock opened at $208.43 on Wednesday. The firm has a market cap of $40.09 billion, a PE ratio of 25.67, a P/E/G ratio of 2.18 and a beta of 1.00. Garmin Ltd. has a twelve month low of $169.26 and a twelve month high of $261.69. The firm’s 50 day moving average price is $205.85 and its two-hundred day moving average price is $220.75.

Insiders Place Their Bets

In other Garmin news, CEO Clifton A. Pemble sold 10,431 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $206.23, for a total value of $2,151,185.13. Following the sale, the chief executive officer owned 135,180 shares of the company’s stock, valued at $27,878,171.40. This trade represents a 7.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Patrick Desbois sold 3,678 shares of the stock in a transaction that occurred 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 directly owned 61,798 shares of the company’s stock, valued at $13,002,299.20. This represents a 5.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 16,594 shares of company stock valued at $3,437,592 over the last three months. 19.54% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Longbow Research raised Garmin from a “neutral” rating to a “buy” rating and set a $250.00 target price on the stock in a report on Wednesday, December 3rd. Tigress Financial reiterated a “strong-buy” rating on shares of Garmin in a research report on Friday, December 19th. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research note on Thursday, January 22nd. Barclays raised shares of Garmin from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $208.00 to $217.00 in a report on Friday, January 16th. Finally, Morgan Stanley increased their target price on shares of Garmin from $193.00 to $195.00 and gave the company an “underweight” rating in a research note on Thursday, October 30th. One research 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 given a Sell rating to the stock. According to data from MarketBeat.com, Garmin currently has an average rating of “Moderate Buy” and a consensus price target of $244.40.

Garmin 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.