Choreo LLC Purchases 536 Shares of Garmin Ltd. (NYSE:GRMN)

Choreo LLC boosted its position in Garmin Ltd. (NYSE:GRMN) by 19.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,329 shares of the scientific and technical instruments company’s stock after buying an additional 536 shares during the period. Choreo LLC’s holdings in Garmin were worth $689,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Citigroup Inc. boosted its stake in Garmin by 123.2% during 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 purchasing an additional 156,441 shares during the last quarter. Trajan Wealth LLC boosted its stake in Garmin by 9.1% during the 3rd 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 acquired a new position in Garmin during the 3rd 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 boosted its stake in shares of Garmin by 25.7% in the 3rd quarter. National Pension Service now owns 284,065 shares of the scientific and technical instruments company’s stock worth $50,004,000 after buying an additional 58,025 shares during the last quarter. 81.60% of the stock is owned by institutional investors.

Garmin Trading Down 1.0 %

Garmin stock opened at $215.58 on Tuesday. Garmin Ltd. has a 12 month low of $120.06 and a 12 month high of $223.33. The business’s 50 day simple moving average is $213.12 and its 200 day simple moving average is $192.61. The company has a market cap of $41.40 billion, a price-to-earnings ratio of 27.36, a PEG ratio of 1.33 and a beta of 0.98.

Insider Activity 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 owns 27,612 shares of the company’s stock, valued at $5,743,019.88. The trade was a 6.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 19.54% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Barclays boosted their target price on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research note on Friday, November 1st. Tigress Financial boosted their target price on Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research note on Monday, December 16th. 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 an average rating of “Hold” and an average target price of $171.00.

Garmin 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.