Lecap Asset Management Ltd. Purchases Shares of 6,609 Garmin Ltd. (NYSE:GRMN)

Lecap Asset Management Ltd. acquired a new position in shares of Garmin Ltd. (NYSE:GRMN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,609 shares of the scientific and technical instruments company’s stock, valued at approximately $1,363,000.

A number of other large investors have also made changes to their positions in GRMN. Consolidated Portfolio Review Corp acquired a new position in shares of Garmin in the fourth quarter valued at $311,000. NovaPoint Capital LLC raised its stake in shares of Garmin by 2.6% in the 4th quarter. NovaPoint Capital LLC now owns 24,145 shares of the scientific and technical instruments company’s stock valued at $4,980,000 after buying an additional 621 shares in the last quarter. Benchmark Financial Wealth Advisors LLC lifted its holdings in shares of Garmin by 6.7% during the 4th quarter. Benchmark Financial Wealth Advisors LLC now owns 1,951 shares of the scientific and technical instruments company’s stock worth $402,000 after acquiring an additional 122 shares during the period. Choreo LLC boosted its position in shares of Garmin by 19.2% during the 4th quarter. Choreo LLC now owns 3,329 shares of the scientific and technical instruments company’s stock valued at $689,000 after acquiring an additional 536 shares in the last quarter. Finally, Confluence Wealth Services Inc. increased its stake in Garmin by 5.6% in the fourth quarter. Confluence Wealth Services Inc. now owns 6,771 shares of the scientific and technical instruments company’s stock valued at $1,460,000 after acquiring an additional 357 shares during the period. Institutional investors and hedge funds own 81.60% of the company’s stock.

Garmin Price Performance

Shares of GRMN opened at $217.52 on Friday. The business’s 50 day simple moving average is $213.02 and its 200-day simple moving average is $192.02. Garmin Ltd. has a one year low of $120.06 and a one year high of $223.33. The company has a market capitalization of $41.77 billion, a P/E ratio of 27.60, a PEG ratio of 1.30 and a beta of 0.98.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Barclays raised their price target on shares of Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research note on Friday, November 1st. Tigress Financial raised their target price on Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research report on Monday, December 16th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $171.00.

Insiders Place Their Bets

In other Garmin news, CFO Douglas G. Boessen sold 1,761 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $207.99, for a total value of $366,270.39. Following the completion of the transaction, the chief financial officer now directly owns 27,612 shares of the company’s stock, valued at approximately $5,743,019.88. The trade was a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 19.54% of the company’s stock.

About Garmin

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.