Garmin Ltd. (NYSE:GRMN) Holdings Raised by American Century Companies Inc.

American Century Companies Inc. lifted its holdings in Garmin Ltd. (NYSE:GRMN - Free Report) by 4.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 60,280 shares of the scientific and technical instruments company's stock after buying an additional 2,841 shares during the quarter. American Century Companies Inc.'s holdings in Garmin were worth $12,433,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC bought a new stake in Garmin in the fourth quarter valued at $26,000. Pinnacle Bancorp Inc. acquired a new stake in shares of Garmin in the 4th quarter worth about $29,000. SOA Wealth Advisors LLC. bought a new stake in Garmin in the 4th quarter valued at about $37,000. Itau Unibanco Holding S.A. acquired a new position in Garmin during the 3rd quarter valued at about $39,000. Finally, Kentucky Trust Co bought a new position in Garmin in the 4th quarter worth about $41,000. 81.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Garmin Price Performance

Shares of GRMN traded down $7.16 during midday trading on Friday, reaching $178.18. The stock had a trading volume of 2,506,525 shares, compared to its average volume of 869,197. The company has a market capitalization of $34.28 billion, a P/E ratio of 24.37, a P/E/G ratio of 1.36 and a beta of 0.96. The firm's 50 day moving average price is $216.05 and its 200-day moving average price is $204.07. Garmin Ltd. has a 52 week low of $138.86 and a 52 week high of $246.50.

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

Garmin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Friday, March 13th. Garmin's dividend payout ratio (DPR) is presently 49.25%.

Insider Activity

In other Garmin news, CEO Clifton A. Pemble sold 7,202 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $227.14, for a total transaction of $1,635,862.28. Following the sale, the chief executive officer now directly owns 149,525 shares of the company's stock, valued at $33,963,108.50. The trade was a 4.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Patrick Desbois sold 6,911 shares of the firm's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $227.15, for a total value of $1,569,833.65. Following the completion of the sale, the chief operating officer now directly owns 63,048 shares of the company's stock, valued at approximately $14,321,353.20. This trade represents a 9.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,342 shares of company stock valued at $5,486,094 over the last three months. Insiders own 19.54% of the company's stock.

Garmin Profile

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.