21,152 Shares in Garmin Ltd. $GRMN Bought by ING Groep NV

ING Groep NV bought a new stake in Garmin Ltd. (NYSE:GRMN) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 21,152 shares of the scientific and technical instruments company’s stock, valued at approximately $5,208,000.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Garmin by 6.9% during the 2nd quarter. Vanguard Group Inc. now owns 19,698,329 shares of the scientific and technical instruments company’s stock valued at $4,111,435,000 after purchasing an additional 1,273,163 shares in the last quarter. Artisan Partners Limited Partnership raised its holdings in Garmin by 6.4% during the 2nd quarter. Artisan Partners Limited Partnership now owns 5,892,150 shares of the scientific and technical instruments company’s stock worth $1,229,810,000 after buying an additional 356,161 shares during the period. Geode Capital Management LLC lifted its stake in Garmin by 1.3% in the second quarter. Geode Capital Management LLC now owns 4,606,511 shares of the scientific and technical instruments company’s stock valued at $958,405,000 after buying an additional 59,321 shares in the last quarter. Norges Bank acquired a new position in shares of Garmin in the second quarter valued at approximately $410,304,000. Finally, Disciplined Growth Investors Inc. MN increased its position in shares of Garmin by 0.4% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,419,365 shares of the scientific and technical instruments company’s stock worth $296,250,000 after acquiring an additional 5,213 shares in the last quarter. 81.60% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Garmin news, CEO Clifton A. Pemble sold 10,431 shares of the business’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 transaction of $2,151,185.13. Following the transaction, the chief executive officer owned 135,180 shares of the company’s stock, valued at $27,878,171.40. The trade was a 7.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Douglas G. Boessen sold 2,485 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $206.26, for a total value of $512,556.10. Following the sale, the chief financial officer owned 28,916 shares in the company, valued at approximately $5,964,214.16. This represents a 7.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 16,594 shares of company stock valued at $3,437,592 in the last 90 days. 15.38% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Garmin Stock Performance

NYSE:GRMN opened at $203.21 on Friday. Garmin Ltd. has a 52-week low of $169.26 and a 52-week high of $261.69. The company has a market cap of $39.09 billion, a P/E ratio of 25.03, a P/E/G ratio of 2.18 and a beta of 1.00. The stock’s 50-day simple moving average is $206.02 and its 200 day simple moving average is $220.53.

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.