Fox Run Management L.L.C. bought a new position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,011 shares of the scientific and technical instruments company's stock, valued at approximately $827,000.
A number of other large investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its position in Garmin by 10.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 17,604 shares of the scientific and technical instruments company's stock worth $3,099,000 after purchasing an additional 1,637 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Garmin by 24.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 17,529 shares of the scientific and technical instruments company's stock valued at $3,086,000 after purchasing an additional 3,415 shares in the last quarter. Citigroup Inc. raised its holdings in Garmin by 123.2% in the 3rd quarter. Citigroup Inc. now owns 283,412 shares of the scientific and technical instruments company's stock worth $49,889,000 after purchasing an additional 156,441 shares during the period. Cerity Partners LLC boosted its position in Garmin by 53.0% during the third quarter. Cerity Partners LLC now owns 43,035 shares of the scientific and technical instruments company's stock worth $7,575,000 after purchasing an additional 14,912 shares in the last quarter. Finally, WESPAC Advisors LLC grew its holdings in Garmin by 4.3% in the third quarter. WESPAC Advisors LLC now owns 5,206 shares of the scientific and technical instruments company's stock valued at $916,000 after purchasing an additional 215 shares during the period. Hedge funds and other institutional investors own 81.60% of the company's stock.
Garmin Stock Performance
Shares of GRMN stock traded down $3.37 on Friday, hitting $213.59. 608,540 shares of the stock traded hands, compared to its average volume of 848,723. Garmin Ltd. has a twelve month low of $138.86 and a twelve month high of $246.50. The firm's 50-day moving average price is $217.31 and its two-hundred day moving average price is $202.73. The stock has a market capitalization of $41.10 billion, a PE ratio of 29.22, a PEG ratio of 1.36 and a beta of 0.96.
Garmin (NYSE:GRMN - Get Free Report) last posted its earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.51. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.70 billion. Garmin had a net margin of 22.42% and a return on equity of 19.31%. Garmin's revenue was up 22.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.72 EPS. On average, equities research analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current fiscal year.
Garmin Dividend Announcement
The firm also recently announced 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 dividend on an annualized basis and a yield of 1.69%. Garmin's dividend payout ratio is currently 49.25%.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on GRMN shares. JPMorgan Chase & Co. increased their target price on Garmin from $219.00 to $260.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. Tigress Financial increased their price objective on shares of Garmin from $265.00 to $285.00 and gave the company a "strong-buy" rating in a report on Wednesday, February 26th. Morgan Stanley upgraded Garmin to a "sell" rating and boosted their price objective for the stock from $164.00 to $171.00 in a research note on Tuesday, February 11th. Finally, Barclays raised their price target on shares of Garmin from $158.00 to $188.00 and gave the stock an "underweight" rating in a research note on Thursday, February 20th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Garmin presently has an average rating of "Hold" and a consensus target price of $210.80.
Get Our Latest Report on GRMN
Insider Buying and Selling at Garmin
In other news, VP Susan Lyman sold 2,829 shares of the business's stock in a transaction that occurred 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 sale, the vice president now directly owns 8,432 shares of the company's stock, valued at approximately $1,817,180.32. The trade was a 25.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Patrick Desbois sold 6,911 shares of the stock in a transaction that occurred 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 directly owns 63,048 shares of the company's stock, valued at $14,321,353.20. The trade was a 9.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,342 shares of company stock worth $5,486,094 over the last quarter. 19.54% of the stock is currently owned by company insiders.
About Garmin
(
Free Report)
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.
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