Wilmington Savings Fund Society FSB Raises Stock Holdings in Garmin Ltd. (NYSE:GRMN)

Wilmington Savings Fund Society FSB increased its stake in shares of Garmin Ltd. (NYSE:GRMN) by 152.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,643 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,594 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Garmin were worth $545,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC grew its holdings in shares of Garmin by 46.0% during the fourth quarter. Apollon Wealth Management LLC now owns 19,962 shares of the scientific and technical instruments company’s stock worth $4,117,000 after buying an additional 6,289 shares in the last quarter. Vest Financial LLC boosted its position in Garmin by 1.2% during the fourth quarter. Vest Financial LLC now owns 168,309 shares of the scientific and technical instruments company’s stock worth $34,715,000 after acquiring an additional 2,067 shares during the last quarter. SOA Wealth Advisors LLC. purchased a new stake in Garmin in the 4th quarter worth approximately $37,000. Realta Investment Advisors lifted its stake in shares of Garmin by 3.3% during the 4th quarter. Realta Investment Advisors now owns 4,735 shares of the scientific and technical instruments company’s stock worth $981,000 after purchasing an additional 150 shares during the period. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Garmin during the fourth quarter worth $26,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Garmin Price Performance

Garmin stock opened at $215.58 on Tuesday. The company has a market cap of $41.40 billion, a price-to-earnings ratio of 27.36, a price-to-earnings-growth ratio of 1.33 and a beta of 0.98. Garmin Ltd. has a 12 month low of $120.06 and a 12 month high of $223.33. The stock’s 50-day moving average is $213.12 and its 200-day moving average is $192.61.

Insider Buying and Selling

In related news, CFO Douglas G. Boessen sold 1,761 shares of the 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 completion of the sale, the chief financial officer now directly owns 27,612 shares in the company, valued at approximately $5,743,019.88. This represents a 6.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 19.54% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Barclays increased their target price on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research report on Friday, November 1st. Tigress Financial increased their price objective on shares of Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a report on Monday, December 16th. Three investment 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, Garmin has an average rating of “Hold” and an average price target of $171.00.

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.