Dakota Wealth Management reduced its position in shares of Garmin Ltd. (NYSE:GRMN – Free Report) by 5.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,071 shares of the scientific and technical instruments company’s stock after selling 455 shares during the quarter. Dakota Wealth Management’s holdings in Garmin were worth $1,421,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Garmin during the 2nd quarter worth about $31,000. Clearstead Trust LLC bought a new position in shares of Garmin in the first quarter worth $30,000. Family Firm Inc. acquired a new position in shares of Garmin in the 2nd quarter valued at approximately $35,000. Benjamin Edwards Inc. lifted its stake in Garmin by 73.3% during the second quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock worth $38,000 after purchasing an additional 99 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Garmin in the second quarter valued at about $46,000. Institutional investors and hedge funds own 73.41% of the company’s stock.
Garmin Price Performance
NYSE GRMN opened at $162.30 on Friday. The company has a fifty day moving average price of $173.31 and a 200-day moving average price of $166.17. The firm has a market cap of $31.20 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 2.81 and a beta of 0.99. Garmin Ltd. has a 1 year low of $99.61 and a 1 year high of $184.42.
Insider Activity
In related news, Director Philip Straub sold 2,750 shares of Garmin stock in a transaction on Friday, August 30th. The stock was sold at an average price of $181.46, for a total transaction of $499,015.00. Following the sale, the director now directly owns 88,622 shares in the company, valued at approximately $16,081,348.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Garmin news, insider Cheng-Wei Wang sold 10,055 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total value of $1,781,343.80. Following the transaction, the insider now directly owns 40,965 shares in the company, valued at $7,257,359.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Philip Straub sold 2,750 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $181.46, for a total transaction of $499,015.00. Following the transaction, the director now directly owns 88,622 shares of the company’s stock, valued at $16,081,348.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,892 shares of company stock valued at $2,296,174 over the last three months. Corporate insiders own 19.54% of the company’s stock.
Analyst Ratings Changes
Several research firms have recently weighed in on GRMN. Tigress Financial boosted their price target on Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 19th. Morgan Stanley lowered Garmin from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $155.00 to $138.00 in a research report on Monday, October 7th. Barclays downgraded shares of Garmin from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $181.00 to $133.00 in a research report on Friday, September 13th. Finally, StockNews.com downgraded Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $158.50.
Read Our Latest Stock Report on GRMN
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.
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