Mirae Asset Global Investments Co. Ltd. Purchases 3,539 Shares of Garmin Ltd. (NYSE:GRMN)

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 35.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,474 shares of the scientific and technical instruments company’s stock after purchasing an additional 3,539 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Garmin were worth $2,820,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of GRMN. Citigroup Inc. raised its position in Garmin by 123.2% in the 3rd quarter. Citigroup Inc. now owns 283,412 shares of the scientific and technical instruments company’s stock valued at $49,889,000 after buying an additional 156,441 shares during the last quarter. Trajan Wealth LLC raised its holdings in shares of Garmin by 9.1% in the third quarter. Trajan Wealth LLC now owns 82,362 shares of the scientific and technical instruments company’s stock valued at $14,498,000 after purchasing an additional 6,878 shares during the last quarter. Passumpsic Savings Bank bought a new position in shares of Garmin during the third quarter valued at about $3,137,000. Advisors Asset Management Inc. boosted its stake in shares of Garmin by 24.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 17,529 shares of the scientific and technical instruments company’s stock worth $3,086,000 after buying an additional 3,415 shares during the last quarter. Finally, National Pension Service grew its holdings in shares of Garmin by 25.7% in the third quarter. National Pension Service now owns 284,065 shares of the scientific and technical instruments company’s stock valued at $50,004,000 after acquiring an additional 58,025 shares in the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on GRMN. Tigress Financial boosted their price objective on Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research report on Monday, December 16th. Barclays increased their price target on shares of Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research report on Friday, November 1st. 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $171.00.

Insiders Place Their Bets

In related news, CFO Douglas G. Boessen sold 1,761 shares of the company’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 sale, the chief financial officer now directly owns 27,612 shares in the company, valued at approximately $5,743,019.88. This represents a 6.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 19.54% of the company’s stock.

Garmin Price Performance

Shares of NYSE GRMN opened at $217.52 on Monday. The business’s fifty day moving average price is $213.12 and its 200-day moving average price is $192.47. Garmin Ltd. has a one year low of $120.06 and a one year high of $223.33. The stock has a market capitalization of $41.77 billion, a PE ratio of 27.60, a P/E/G ratio of 1.33 and a beta of 0.98.

Garmin Company Profile

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.