SYM FINANCIAL Corp Purchases New Shares in Garmin Ltd. (NYSE:GRMN)

SYM FINANCIAL Corp acquired a new stake in Garmin Ltd. (NYSE:GRMN) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,161 shares of the scientific and technical instruments company’s stock, valued at approximately $239,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of Garmin by 40.8% in 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 acquiring an additional 1,093,219 shares in the last quarter. Montrusco Bolton Investments Inc. purchased a new stake in Garmin during the 3rd quarter worth approximately $53,252,000. Jacobs Levy Equity Management Inc. raised its position in shares of Garmin by 1,580.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 287,283 shares of the scientific and technical instruments company’s stock valued at $50,570,000 after purchasing an additional 270,186 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted 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 valued at $85,600,000 after buying an additional 268,996 shares during the last quarter. Finally, Wedge Capital Management L L P NC purchased a new position in shares of Garmin during the 3rd quarter valued at approximately $45,501,000. 81.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GRMN. Tigress Financial upped their price target 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. Morgan Stanley lowered shares of Garmin from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $155.00 to $138.00 in a research note on Monday, October 7th. Finally, Barclays lifted their price target on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research note on Friday, November 1st. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $171.00.

Garmin Stock Down 0.7 %

GRMN opened at $215.58 on Monday. The company’s 50-day moving average price is $212.61 and its 200 day moving average price is $190.86. Garmin Ltd. has a fifty-two week low of $119.15 and a fifty-two week high of $222.97. The firm has a market cap of $41.40 billion, a price-to-earnings ratio of 27.36, a price-to-earnings-growth ratio of 1.30 and a beta of 0.98.

Insider Activity

In other Garmin news, Director Sean Biddlecombe sold 587 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $210.10, for a total transaction of $123,328.70. Following the completion of the transaction, the director now directly owns 6,147 shares of the company’s stock, valued at $1,291,484.70. The trade was a 8.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Douglas G. Boessen sold 1,761 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 27,612 shares in the company, valued at $5,743,019.88. The trade was a 6.00 % decrease in their position. The disclosure for this sale can be found here. 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.