Petros Family Wealth LLC Acquires Shares of 1,517 Garmin Ltd. (NYSE:GRMN)

Petros Family Wealth LLC acquired a new stake in Garmin Ltd. (NYSE:GRMN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 1,517 shares of the scientific and technical instruments company's stock, valued at approximately $313,000.

Other large investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. boosted its holdings in shares of Garmin by 1.7% during the 4th quarter. Geneos Wealth Management Inc. now owns 2,863 shares of the scientific and technical instruments company's stock worth $591,000 after buying an additional 49 shares during the period. Curbstone Financial Management Corp increased its stake in shares of Garmin by 1.3% in the fourth quarter. Curbstone Financial Management Corp now owns 3,886 shares of the scientific and technical instruments company's stock worth $802,000 after purchasing an additional 50 shares during the period. Larson Financial Group LLC lifted its position in shares of Garmin by 26.8% during the 4th quarter. Larson Financial Group LLC now owns 241 shares of the scientific and technical instruments company's stock worth $50,000 after purchasing an additional 51 shares during the last quarter. Addison Advisors LLC boosted its stake in Garmin by 11.1% during the 4th quarter. Addison Advisors LLC now owns 522 shares of the scientific and technical instruments company's stock valued at $108,000 after purchasing an additional 52 shares during the period. Finally, HB Wealth Management LLC increased its position in Garmin by 1.4% in the 4th quarter. HB Wealth Management LLC now owns 3,821 shares of the scientific and technical instruments company's stock worth $788,000 after buying an additional 53 shares during the period. 81.60% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Tigress Financial boosted their target price on shares of Garmin from $265.00 to $285.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, February 26th. Morgan Stanley upgraded shares of Garmin to a "sell" rating and increased their target price for the company from $164.00 to $171.00 in a research note on Tuesday, February 11th. JPMorgan Chase & Co. upped their price target on Garmin from $219.00 to $260.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Finally, Barclays boosted their price objective on Garmin from $158.00 to $188.00 and gave the company an "underweight" rating in a research report on Thursday, February 20th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $210.80.

Insiders Place Their Bets

In other Garmin news, COO Patrick Desbois sold 6,911 shares of the company's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $227.15, for a total transaction of $1,569,833.65. Following the transaction, the chief operating officer now owns 63,048 shares of the company's stock, valued at approximately $14,321,353.20. This represents a 9.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Susan Lyman sold 2,829 shares of Garmin stock in a transaction on Monday, March 10th. The shares were sold at an average price of $215.51, for a total value of $609,677.79. Following the completion of the sale, the vice president now directly owns 8,432 shares of the company's stock, valued at $1,817,180.32. This trade represents a 25.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,342 shares of company stock valued at $5,486,094. 19.54% of the stock is currently owned by corporate insiders.

Garmin Stock Up 0.1 %

Garmin stock traded up $0.24 during mid-day trading on Tuesday, hitting $192.34. 579,358 shares of the company were exchanged, compared to its average volume of 884,106. Garmin Ltd. has a 1-year low of $138.86 and a 1-year high of $246.50. The business has a fifty day moving average of $211.03 and a 200 day moving average of $204.49. The company has a market capitalization of $37.01 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92.

Garmin (NYSE:GRMN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.51. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.70 billion. Garmin had a net margin of 22.42% and a return on equity of 19.31%. The firm's quarterly revenue was up 22.9% on a year-over-year basis. During the same period last year, the firm posted $1.72 EPS. Research analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be given a $0.90 dividend. The ex-dividend date is Friday, March 13th. This represents a $3.60 annualized dividend and a yield of 1.87%. Garmin's payout ratio is 49.25%.

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.