Versor Investments LP Takes Position in Garmin Ltd. $GRMN

Versor Investments LP bought a new position in Garmin Ltd. (NYSE:GRMN) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,896 shares of the scientific and technical instruments company’s stock, valued at approximately $713,000.

Other large investors also recently modified their holdings of the company. Quaker Wealth Management LLC grew its position in Garmin by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock valued at $28,000 after acquiring an additional 264 shares during the period. Richardson Financial Services Inc. increased its stake in shares of Garmin by 62.2% in the 3rd quarter. Richardson Financial Services Inc. now owns 133 shares of the scientific and technical instruments company’s stock valued at $33,000 after buying an additional 51 shares during the period. Cornerstone Planning Group LLC lifted its position in Garmin by 788.9% during the 3rd quarter. Cornerstone Planning Group LLC now owns 160 shares of the scientific and technical instruments company’s stock valued at $39,000 after purchasing an additional 142 shares during the period. Tradewinds Capital Management LLC bought a new position in Garmin during the 3rd quarter worth approximately $44,000. Finally, SJS Investment Consulting Inc. grew its holdings in Garmin by 1,530.8% during the third quarter. SJS Investment Consulting Inc. now owns 212 shares of the scientific and technical instruments company’s stock valued at $52,000 after purchasing an additional 199 shares during the period. 81.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GRMN. Tigress Financial reissued a “strong-buy” rating on shares of Garmin in a report on Friday, December 19th. Morgan Stanley increased their price objective on Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a report on Thursday, October 30th. Barclays upgraded Garmin from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $208.00 to $217.00 in a research note on Friday, January 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research report on Thursday, January 22nd. Finally, Longbow Research upgraded shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price objective on the stock in a report on Wednesday, December 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $244.40.

Insider Activity

In other news, CEO Clifton A. Pemble sold 10,431 shares of the business’s stock in a transaction dated 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 owned 135,180 shares of the company’s stock, valued at approximately $27,878,171.40. The trade was a 7.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Patrick Desbois sold 3,678 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $210.40, for a total transaction of $773,851.20. Following the transaction, the chief operating officer directly owned 61,798 shares in the company, valued at approximately $13,002,299.20. This represents a 5.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 16,594 shares of company stock valued at $3,437,592. 19.54% of the stock is owned by company insiders.

Garmin Stock Up 1.2%

Shares of NYSE:GRMN opened at $208.43 on Wednesday. The stock has a market cap of $40.09 billion, a PE ratio of 25.67, a P/E/G ratio of 2.18 and a beta of 1.00. Garmin Ltd. has a 12-month low of $169.26 and a 12-month high of $261.69. The business has a 50 day moving average of $205.85 and a 200-day moving average of $220.75.

Garmin 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.