New Mexico Educational Retirement Board Has $1.52 Million Stake in Garmin Ltd. (NYSE:GRMN)

New Mexico Educational Retirement Board reduced its position in Garmin Ltd. (NYSE:GRMN) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,350 shares of the scientific and technical instruments company’s stock after selling 200 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Garmin were worth $1,516,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new stake in shares of Garmin in the 4th quarter valued at $26,000. Pinnacle Bancorp Inc. bought a new position in Garmin during the fourth quarter worth $29,000. SOA Wealth Advisors LLC. bought a new position in Garmin during the fourth quarter worth $37,000. Larson Financial Group LLC boosted its stake in Garmin by 578.6% during the third quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock worth $33,000 after acquiring an additional 162 shares in the last quarter. Finally, Kentucky Trust Co bought a new position in Garmin during the fourth quarter worth $41,000. 81.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GRMN has been the topic of several research analyst reports. Tigress Financial increased their target price 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. Barclays increased their target price 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. Three 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 data from MarketBeat.com, Garmin presently has a consensus rating of “Hold” and a consensus target price of $171.00.

Garmin Trading Up 1.0 %

Garmin stock opened at $212.37 on Monday. Garmin Ltd. has a 1-year low of $121.20 and a 1-year high of $223.33. The firm 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. The firm’s fifty day moving average price is $212.77 and its two-hundred day moving average price is $193.88.

Insider Buying and Selling at Garmin

In other news, CFO Douglas G. Boessen sold 1,761 shares of the stock in a transaction dated 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 sale, the chief financial officer now owns 27,612 shares in the company, valued at $5,743,019.88. This represents a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.