Garmin Ltd. (NYSE:GRMN) Given Consensus Rating of “Moderate Buy” by Analysts

Garmin Ltd. (NYSE:GRMN) has been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $244.40.

GRMN has been the topic of several recent research reports. Barclays raised shares of Garmin from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $208.00 to $217.00 in a research note on Friday, January 16th. Tigress Financial reiterated a “strong-buy” rating on shares of Garmin in a research note on Friday, December 19th. Longbow Research raised shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price target for the company in a report on Wednesday, December 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a report on Thursday, January 22nd. Finally, Morgan Stanley boosted their target price on Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a research report on Thursday, October 30th.

Garmin Trading Up 5.7%

NYSE:GRMN opened at $214.73 on Monday. Garmin has a 12-month low of $169.26 and a 12-month high of $261.69. The stock’s 50 day simple moving average is $206.25 and its 200-day simple moving average is $220.24. The firm has a market cap of $41.30 billion, a P/E ratio of 26.44, a PEG ratio of 2.27 and a beta of 1.00.

Insider Buying and Selling

In other Garmin news, CFO Douglas G. Boessen sold 2,485 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $206.26, for a total value of $512,556.10. Following the completion of the transaction, the chief financial officer owned 28,916 shares in the company, valued at approximately $5,964,214.16. This represents a 7.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Clifton A. Pemble sold 10,431 shares of the firm’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $206.23, for a total value of $2,151,185.13. Following the completion of the sale, the chief executive officer directly owned 135,180 shares of the company’s stock, valued at approximately $27,878,171.40. This trade represents a 7.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 16,594 shares of company stock valued at $3,437,592 over the last quarter. Company insiders own 19.54% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jacobi Capital Management LLC grew its stake in Garmin by 17.3% in the 4th quarter. Jacobi Capital Management LLC now owns 2,905 shares of the scientific and technical instruments company’s stock valued at $589,000 after acquiring an additional 428 shares during the last quarter. Kestra Advisory Services LLC lifted its holdings in shares of Garmin by 2.4% in the fourth quarter. Kestra Advisory Services LLC now owns 7,634 shares of the scientific and technical instruments company’s stock valued at $1,549,000 after purchasing an additional 176 shares in the last quarter. Transamerica Financial Advisors LLC lifted its holdings in shares of Garmin by 14.1% in the fourth quarter. Transamerica Financial Advisors LLC now owns 534 shares of the scientific and technical instruments company’s stock valued at $108,000 after purchasing an additional 66 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Garmin by 5.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 127,032 shares of the scientific and technical instruments company’s stock valued at $25,768,000 after purchasing an additional 6,198 shares during the last quarter. Finally, Bridgewater Associates LP purchased a new position in shares of Garmin during the 4th quarter worth approximately $2,040,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Garmin Company Profile

Garmin Ltd. is a technology company best known for designing and manufacturing navigation, communication and information devices that leverage global positioning system (GPS) technology. The company serves a diverse set of markets including consumer fitness and wearables, automotive navigation, aviation avionics, marine electronics and outdoor handheld devices. Garmin’s products combine hardware, mapping and software services to deliver location-aware solutions for personal, recreational and professional uses.

Garmin’s product lineup includes wearable fitness and multisport watches (Forerunner, Fenix, Venu), cycling computers and accessories (Edge, Varia), handheld and handheld-mounted GPS devices for outdoor activities, automotive and portable navigation units, marine chartplotters and fishfinders, and certified avionics for fixed- and rotary-wing aircraft.