Kentucky Trust Co Makes New Investment in Garmin Ltd. (NYSE:GRMN)

Kentucky Trust Co bought a new position in shares of Garmin Ltd. (NYSE:GRMN) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 200 shares of the scientific and technical instruments company’s stock, valued at approximately $41,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GRMN. State Street Corp raised its stake in shares of Garmin by 2.0% in the 3rd quarter. State Street Corp now owns 6,912,536 shares of the scientific and technical instruments company’s stock valued at $1,216,819,000 after purchasing an additional 134,303 shares during the period. Geode Capital Management LLC raised its stake in shares of Garmin by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,363,464 shares of the scientific and technical instruments company’s stock valued at $765,912,000 after purchasing an additional 112,815 shares during the period. FMR LLC raised its stake in shares of Garmin by 40.8% in the 3rd quarter. FMR LLC now owns 3,775,154 shares of the scientific and technical instruments company’s stock valued at $664,540,000 after purchasing an additional 1,093,219 shares during the period. Disciplined Growth Investors Inc. MN raised its stake in shares of Garmin by 3.6% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,401,004 shares of the scientific and technical instruments company’s stock valued at $246,619,000 after purchasing an additional 48,645 shares during the period. Finally, Captrust Financial Advisors raised its stake in shares of Garmin by 4.1% in the 3rd quarter. Captrust Financial Advisors now owns 767,729 shares of the scientific and technical instruments company’s stock valued at $135,143,000 after purchasing an additional 30,011 shares during the period. 81.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on GRMN. Barclays lifted their price target on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research note on Friday, November 1st. Tigress Financial lifted their target price on Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a research report on Monday, December 16th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Garmin currently has a consensus rating of “Hold” and a consensus price target of $171.00.

Garmin Stock Performance

NYSE:GRMN opened at $209.57 on Thursday. The stock’s 50-day simple moving average is $213.14 and its 200 day simple moving average is $193.14. The company has a market cap of $40.24 billion, a P/E ratio of 26.60, a P/E/G ratio of 1.33 and a beta of 0.98. Garmin Ltd. has a 52-week low of $120.06 and a 52-week high of $223.33.

Insiders Place Their Bets

In other Garmin news, CFO Douglas G. Boessen sold 1,761 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $207.99, for a total transaction of $366,270.39. Following the transaction, the chief financial officer now owns 27,612 shares of the company’s stock, valued at $5,743,019.88. The trade was a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 19.54% of the company’s stock.

Garmin Company 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.