Oregon Public Employees Retirement Fund Reduces Stake in Garmin Ltd. (GRMN)

Oregon Public Employees Retirement Fund reduced its position in Garmin Ltd. (NASDAQ:GRMN) by 5.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,060 shares of the scientific and technical instruments company’s stock after selling 1,316 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Garmin were worth $1,587,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc raised its holdings in Garmin by 0.5% in the 4th quarter. IFP Advisors Inc now owns 31,260 shares of the scientific and technical instruments company’s stock worth $1,964,000 after purchasing an additional 151 shares during the period. ETF Managers Group LLC raised its holdings in Garmin by 15.7% in the 4th quarter. ETF Managers Group LLC now owns 2,210 shares of the scientific and technical instruments company’s stock worth $140,000 after purchasing an additional 300 shares during the period. Sumitomo Mitsui Asset Management Company LTD raised its holdings in 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 worth $502,000 after purchasing an additional 385 shares during the period. Strs Ohio raised its holdings in Garmin by 5.5% in the 4th quarter. Strs Ohio now owns 8,230 shares of the scientific and technical instruments company’s stock worth $521,000 after purchasing an additional 431 shares during the period. Finally, OmniStar Financial Group Inc. raised its holdings in Garmin by 8.0% in the 3rd quarter. OmniStar Financial Group Inc. now owns 7,738 shares of the scientific and technical instruments company’s stock worth $542,000 after purchasing an additional 572 shares during the period. Hedge funds and other institutional investors own 42.96% of the company’s stock.

NASDAQ:GRMN traded up $0.68 on Monday, reaching $70.26. 867,264 shares of the company’s stock traded hands, compared to its average volume of 864,721. The stock has a market cap of $13.92 billion, a PE ratio of 23.90, a P/E/G ratio of 2.74 and a beta of 0.94. Garmin Ltd. has a 12 month low of $57.01 and a 12 month high of $70.77.

A number of equities analysts recently commented on the company. BidaskClub raised Garmin from a “hold” rating to a “buy” rating in a report on Saturday, December 15th. Bank of America set a $70.00 price target on Garmin and gave the company a “sell” rating in a report on Thursday, November 15th. Finally, Morgan Stanley decreased their price target on Garmin from $77.00 to $70.00 and set an “equal weight” rating on the stock in a report on Monday, January 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target 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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