Summit Financial Wealth Advisors LLC boosted its holdings in shares of Garmin Ltd. (NASDAQ:GRMN) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80,589 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,577 shares during the quarter. Garmin comprises about 1.7% of Summit Financial Wealth Advisors LLC’s investment portfolio, making the stock its 14th largest position. Summit Financial Wealth Advisors LLC’s holdings in Garmin were worth $5,103,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in GRMN. Skandinaviska Enskilda Banken AB publ bought a new position in Garmin during the third quarter valued at $75,886,000. Vanguard Group Inc increased its position in Garmin by 9.0% during the third quarter. Vanguard Group Inc now owns 12,760,863 shares of the scientific and technical instruments company’s stock valued at $893,899,000 after acquiring an additional 1,057,737 shares during the last quarter. BlackRock Inc. increased its position in Garmin by 8.6% during the third quarter. BlackRock Inc. now owns 12,033,536 shares of the scientific and technical instruments company’s stock valued at $842,946,000 after acquiring an additional 947,858 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in Garmin during the third quarter valued at $37,139,000. Finally, Select Equity Group L.P. increased its position in Garmin by 263.0% during the third quarter. Select Equity Group L.P. now owns 558,205 shares of the scientific and technical instruments company’s stock valued at $39,102,000 after acquiring an additional 404,449 shares during the last quarter. 42.32% of the stock is currently owned by institutional investors.

Shares of NASDAQ GRMN traded up $0.21 during mid-day trading on Tuesday, reaching $69.78. The company had a trading volume of 14,203 shares, compared to its average volume of 859,082. The stock has a market cap of $13.73 billion, a PE ratio of 23.78, a PEG ratio of 2.70 and a beta of 0.94. Garmin Ltd. has a 52 week low of $57.01 and a 52 week high of $70.77.

A number of research firms have weighed in on GRMN. BidaskClub cut shares of Garmin from a “buy” rating to a “hold” rating in a research report on Wednesday, October 10th. Bank of America set a $70.00 price objective on shares of Garmin and gave the company a “sell” rating in a research report on Thursday, November 15th. Finally, Morgan Stanley cut their price objective on shares of Garmin from $77.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Monday, January 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $68.40.

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Garmin 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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