Garmin Ltd. (GRMN) Shares Bought by Hosking Partners LLP
Hosking Partners LLP boosted its position in Garmin Ltd. (NASDAQ:GRMN) by 7.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 251,683 shares of the scientific and technical instruments company’s stock after buying an additional 17,712 shares during the period. Hosking Partners LLP’s holdings in Garmin were worth $14,993,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of GRMN. WFG Advisors LP increased its position in Garmin by 11.5% in the 2nd quarter. WFG Advisors LP now owns 2,175 shares of the scientific and technical instruments company’s stock valued at $111,000 after buying an additional 225 shares in the last quarter. Bank of Hawaii bought a new stake in Garmin in the 3rd quarter valued at about $206,000. Cambridge Advisors Inc. bought a new stake in Garmin in the 3rd quarter valued at about $208,000. Heartland Advisors Inc. bought a new stake in Garmin in the 4th quarter valued at about $208,000. Finally, Garrison Financial Corp bought a new stake in Garmin in the 4th quarter valued at about $211,000. 41.05% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently commented on GRMN shares. Credit Suisse Group reaffirmed an “underperform” rating and issued a $58.00 target price (up from $48.00) on shares of Garmin in a research report on Tuesday, December 12th. Zacks Investment Research raised Garmin from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Thursday, January 4th. Tigress Financial reissued a “buy” rating on shares of Garmin in a report on Friday, December 15th. BidaskClub lowered Garmin from a “buy” rating to a “hold” rating in a report on Friday, December 15th. Finally, Morgan Stanley boosted their price objective on Garmin from $52.00 to $57.00 and gave the stock an “equal weight” rating in a report on Thursday, November 2nd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. Garmin currently has a consensus rating of “Hold” and an average price target of $56.71.
In other Garmin news, major shareholder Jonathan Burrell sold 254,000 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sean Biddlecombe sold 755 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was 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 three months. Corporate insiders own 18.30% of the company’s stock.
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Garmin Company 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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