Allspring Global Investments Holdings LLC Grows Holdings in Garmin Ltd. (NYSE:GRMN)

Allspring Global Investments Holdings LLC boosted its holdings in Garmin Ltd. (NYSE:GRMN) by 229.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 159,056 shares of the scientific and technical instruments company’s stock after purchasing an additional 110,705 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.08% of Garmin worth $32,535,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. FMR LLC raised its position in Garmin by 40.8% during the 3rd quarter. FMR LLC now owns 3,775,154 shares of the scientific and technical instruments company’s stock worth $664,540,000 after buying an additional 1,093,219 shares during the last quarter. Montrusco Bolton Investments Inc. purchased a new position in Garmin during the 3rd quarter worth $53,252,000. Jacobs Levy Equity Management Inc. grew its stake in shares of Garmin by 1,580.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 287,283 shares of the scientific and technical instruments company’s stock worth $50,570,000 after purchasing an additional 270,186 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in shares of Garmin by 123.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 486,281 shares of the scientific and technical instruments company’s stock worth $85,600,000 after purchasing an additional 268,996 shares during the period. Finally, KBC Group NV grew its stake in shares of Garmin by 560.8% during the 3rd quarter. KBC Group NV now owns 203,713 shares of the scientific and technical instruments company’s stock worth $35,860,000 after purchasing an additional 172,883 shares during the period. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Garmin Stock Up 1.0 %

Shares of NYSE:GRMN opened at $212.37 on Friday. Garmin Ltd. has a 52-week low of $121.20 and a 52-week high of $223.33. The company has a 50 day moving average of $212.89 and a two-hundred day moving average of $193.37. The company has a market capitalization of $40.78 billion, a price-to-earnings ratio of 26.95, a price-to-earnings-growth ratio of 1.33 and a beta of 0.98.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Barclays upped their price target on shares of Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research note on Friday, November 1st. Tigress Financial upped their price target on shares of Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research note on Monday, December 16th. Three equities 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 company. According to MarketBeat, Garmin presently has a consensus rating of “Hold” and a consensus target price of $171.00.

Insider Transactions at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 1,761 shares of Garmin stock in a transaction on Friday, December 20th. The shares were sold at an average price of $207.99, for a total value of $366,270.39. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 19.54% of the company’s stock.

About Garmin

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.