New York State Common Retirement Fund Has $15.38 Million Stake in Garmin Ltd. (GRMN)
New York State Common Retirement Fund grew its position in Garmin Ltd. (NASDAQ:GRMN) by 7.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 284,900 shares of the scientific and technical instruments company’s stock after acquiring an additional 19,900 shares during the period. New York State Common Retirement Fund owned about 0.14% of Garmin worth $15,376,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. WFG Advisors LP boosted its holdings in shares of Garmin by 11.5% in the second quarter. WFG Advisors LP now owns 2,175 shares of the scientific and technical instruments company’s stock valued at $111,000 after acquiring an additional 225 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Garmin by 8.8% in the second quarter. US Bancorp DE now owns 2,215 shares of the scientific and technical instruments company’s stock valued at $113,000 after acquiring an additional 180 shares in the last quarter. Profund Advisors LLC acquired a new stake in shares of Garmin in the second quarter valued at about $202,000. Bank of Hawaii acquired a new stake in shares of Garmin in the third quarter valued at about $206,000. Finally, Cambridge Advisors Inc. acquired a new stake in shares of Garmin in the third quarter valued at about $208,000. 39.37% of the stock is currently owned by institutional investors and hedge funds.
Shares of Garmin Ltd. (NASDAQ:GRMN) opened at $58.36 on Friday. Garmin Ltd. has a 52 week low of $47.03 and a 52 week high of $63.15. The company has a market cap of $11,148.75, a PE ratio of 20.65, a P/E/G ratio of 2.46 and a beta of 0.84.
Several brokerages recently commented on GRMN. Tigress Financial reiterated a “buy” rating on shares of Garmin in a research note on Friday. BidaskClub cut shares of Garmin from a “buy” rating to a “hold” rating in a research note on Friday. Credit Suisse Group reiterated an “underperform” rating and issued a $58.00 price objective (up previously from $48.00) on shares of Garmin in a research note on Tuesday, December 12th. ValuEngine upgraded shares of Garmin from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. Finally, Morgan Stanley raised their price objective on shares of Garmin from $52.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, November 2nd. Three analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $56.57.
In other Garmin news, insider Sean Biddlecombe sold 755 shares of Garmin stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $60.80, for a total transaction of $45,904.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Andrew R. Etkind sold 2,073 shares of Garmin stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $53.00, for a total transaction of $109,869.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,065,943 shares of company stock valued at $64,477,247. 18.30% of the stock is currently owned by company insiders.
Garmin Ltd. (Garmin) and subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. The Company operates through five segments. It offers a range of auto navigation products, as well as a range of products and applications designed for the mobile GPS market. It offers products to consumers around the world, including Outdoor Handhelds, Wearable Devices, Golf Devices, and Dog Tracking and Training/Pet Obedience Devices.
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