Kessler Investment Group LLC Lowers Stake in Garmin Ltd. (NYSE:GRMN)

Kessler Investment Group LLC lowered its stake in shares of Garmin Ltd. (NYSE:GRMN) by 6.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,696 shares of the scientific and technical instruments company’s stock after selling 191 shares during the period. Kessler Investment Group LLC’s holdings in Garmin were worth $556,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of GRMN. Golden State Wealth Management LLC purchased a new stake in Garmin during the fourth quarter worth $26,000. Pinnacle Bancorp Inc. purchased a new stake in Garmin during the fourth quarter worth $29,000. Larson Financial Group LLC lifted its holdings in Garmin by 578.6% during the third quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock worth $33,000 after buying an additional 162 shares during the period. SOA Wealth Advisors LLC. purchased a new stake in Garmin during the fourth quarter worth $37,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in Garmin during the third quarter worth $39,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Analysts Set New Price Targets

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

Garmin Price Performance

NYSE GRMN opened at $212.37 on Friday. The stock’s fifty day moving average price is $212.89 and its 200 day moving average price is $193.37. Garmin Ltd. has a 1 year low of $121.20 and a 1 year high of $223.33. The company has a market cap of $40.78 billion, a price-to-earnings ratio of 26.95, a PEG ratio of 1.33 and a beta of 0.98.

Insider Activity at Garmin

In related news, CFO Douglas G. Boessen sold 1,761 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $207.99, for a total value of $366,270.39. Following the transaction, the chief financial officer now directly owns 27,612 shares of the company’s stock, valued at $5,743,019.88. This represents a 6.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 19.54% of the stock is owned by insiders.

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.