Garmin Ltd. (GRMN) Position Lessened by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. reduced its position in shares of Garmin Ltd. (NASDAQ:GRMN) by 60.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,357 shares of the scientific and technical instruments company’s stock after selling 75,191 shares during the period. Royal London Asset Management Ltd.’s holdings in Garmin were worth $3,101,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GRMN. Quantamental Technologies LLC bought a new position in shares of Garmin in the 4th quarter valued at about $145,000. PGGM Investments boosted its stake in shares of Garmin by 1.9% in the 4th quarter. PGGM Investments now owns 592,807 shares of the scientific and technical instruments company’s stock valued at $37,537,000 after purchasing an additional 11,107 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its stake in shares of Garmin by 5.1% in the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 7,938 shares of the scientific and technical instruments company’s stock valued at $502,000 after purchasing an additional 385 shares during the last quarter. Simmons Bank boosted its stake in shares of Garmin by 7.7% in the 4th quarter. Simmons Bank now owns 22,812 shares of the scientific and technical instruments company’s stock valued at $1,444,000 after purchasing an additional 1,629 shares during the last quarter. Finally, Strs Ohio boosted its stake in shares of Garmin by 5.5% in the 4th quarter. Strs Ohio now owns 8,230 shares of the scientific and technical instruments company’s stock valued at $521,000 after purchasing an additional 431 shares during the last quarter. 42.32% of the stock is owned by institutional investors and hedge funds.

Shares of GRMN opened at $69.77 on Thursday. Garmin Ltd. has a twelve month low of $57.01 and a twelve month high of $70.77. The company has a market capitalization of $13.79 billion, a price-to-earnings ratio of 23.73, a P/E/G ratio of 2.71 and a beta of 0.94.

GRMN has been the topic of several recent research reports. BidaskClub lowered shares of Garmin from a “buy” rating to a “hold” rating in a research note on Wednesday, October 10th. Bank of America set a $70.00 target price on shares of Garmin and gave the company a “sell” rating in a research note on Thursday, November 15th. Finally, Morgan Stanley reduced their target price on shares of Garmin from $77.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Monday, January 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $68.40.

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Garmin Company Profile

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices worldwide. It operates through five segments: Auto, Aviation, Marine, Outdoor, and Fitness. The Auto segment offers personal navigation devices; infotainment systems; and action cameras, as well as mobile applications under the Garmin and NAVIGON names.

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Institutional Ownership by Quarter for Garmin (NASDAQ:GRMN)

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