Russell Investments Group Ltd. Decreases Position in Garmin Ltd. (GRMN)
Russell Investments Group Ltd. reduced its position in shares of Garmin Ltd. (NASDAQ:GRMN) by 4.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 48,657 shares of the scientific and technical instruments company’s stock after selling 2,367 shares during the quarter. Russell Investments Group Ltd.’s holdings in Garmin were worth $2,626,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. WFG Advisors LP increased its stake in Garmin by 11.5% during the 2nd quarter. WFG Advisors LP now owns 2,175 shares of the scientific and technical instruments company’s stock valued at $111,000 after purchasing an additional 225 shares in the last quarter. US Bancorp DE increased its stake in Garmin by 8.8% during the 2nd quarter. US Bancorp DE now owns 2,215 shares of the scientific and technical instruments company’s stock valued at $113,000 after purchasing an additional 180 shares in the last quarter. Bank of Hawaii bought a new stake in Garmin during the 3rd quarter valued at about $206,000. Cambridge Advisors Inc. bought a new stake in Garmin during the 3rd quarter valued at about $208,000. Finally, Profund Advisors LLC bought a new stake in Garmin during the 2nd quarter valued at about $202,000. Institutional investors and hedge funds own 41.54% of the company’s stock.
Shares of Garmin Ltd. (NASDAQ:GRMN) opened at $58.58 on Wednesday. The stock has a market cap of $10,980.00, a PE ratio of 20.26, a PEG ratio of 2.41 and a beta of 0.83. Garmin Ltd. has a 1-year low of $47.03 and a 1-year high of $63.15.
GRMN has been the subject of a number of analyst reports. BidaskClub upgraded shares of Garmin from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 22nd. Zacks Investment Research lowered shares of Garmin from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. KeyCorp restated a “hold” rating on shares of Garmin in a research note on Wednesday, November 1st. 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. Finally, ValuEngine upgraded shares of Garmin from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. Garmin has an average rating of “Hold” and a consensus target price of $56.57.
In other news, insider Sean Biddlecombe sold 755 shares of the firm’s 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 filing with the SEC, which is accessible through this hyperlink. Also, VP Andrew R. Etkind sold 2,073 shares of the firm’s stock in a transaction that occurred on 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 ninety days, insiders have sold 1,065,943 shares of company stock worth $64,477,247. Insiders own 18.30% of the company’s stock.
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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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