Kentucky Retirement Systems Insurance Trust Fund Decreases Stake in Garmin Ltd. (NYSE:GRMN)

Kentucky Retirement Systems Insurance Trust Fund lowered its position in Garmin Ltd. (NYSE:GRMN) by 4.3% in the fourth quarter, Holdings Channel reports. The fund owned 4,355 shares of the scientific and technical instruments company’s stock after selling 198 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Garmin were worth $898,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of research firms have weighed in on GRMN. Barclays raised their price objective on shares of Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Tigress Financial lifted their target price on shares of Garmin from $215.00 to $265.00 and gave the company 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, Garmin presently has an average rating of “Hold” and a consensus target price of $171.00.

Insider Buying and Selling at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 1,761 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $207.99, for a total transaction of $366,270.39. Following the sale, the chief financial officer now directly owns 27,612 shares in the company, valued at approximately $5,743,019.88. The trade was 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. 19.54% of the stock is currently owned by corporate insiders.

Garmin Stock Performance

Shares of GRMN opened at $214.78 on Wednesday. The stock has a market capitalization of $41.24 billion, a P/E ratio of 27.26, a P/E/G ratio of 1.33 and a beta of 0.98. The company’s fifty day moving average is $212.63 and its two-hundred day moving average is $194.17. Garmin Ltd. has a 1 year low of $121.20 and a 1 year high of $223.33.

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.