APG Asset Management N.V. Buys 82,100 Shares of Garmin Ltd. (NYSE:GRMN)

APG Asset Management N.V. increased its stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 75.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 191,400 shares of the scientific and technical instruments company's stock after purchasing an additional 82,100 shares during the quarter. APG Asset Management N.V. owned approximately 0.10% of Garmin worth $38,125,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new stake in Garmin during the fourth quarter valued at about $26,000. Aster Capital Management DIFC Ltd raised its stake in Garmin by 864.3% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company's stock valued at $28,000 after purchasing an additional 121 shares during the last quarter. Pinnacle Bancorp Inc. bought a new stake in shares of Garmin in the fourth quarter valued at about $29,000. SOA Wealth Advisors LLC. acquired a new position in shares of Garmin in the fourth quarter valued at $37,000. Finally, Kentucky Trust Co bought a new position in shares of Garmin during the 4th quarter worth about $41,000. 81.60% of the stock is owned by hedge funds and other institutional investors.

Garmin Stock Up 1.2 %

Shares of NYSE:GRMN traded up $2.25 during mid-day trading on Monday, reaching $192.03. 212,557 shares of the stock were exchanged, compared to its average volume of 1,029,956. The stock's 50 day simple moving average is $211.57 and its 200-day simple moving average is $204.37. Garmin Ltd. has a one year low of $138.86 and a one year high of $246.50. The company has a market cap of $36.95 billion, a P/E ratio of 26.27, a P/E/G ratio of 1.36 and a beta of 0.92.

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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 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.51. Garmin had a net margin of 22.42% and a return on equity of 19.31%. The company had revenue of $1.82 billion during the quarter, compared to analysts' expectations of $1.70 billion. During the same period last year, the business earned $1.72 EPS. The business's quarterly revenue was up 22.9% on a year-over-year basis. Analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Dividend Announcement

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

Analyst Ratings Changes

Several analysts recently commented on GRMN shares. Barclays boosted their price target on Garmin from $158.00 to $188.00 and gave the company an "underweight" rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. increased their price objective 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 boosted their price target on shares of Garmin from $265.00 to $285.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, February 26th. Finally, Morgan Stanley raised 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. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $210.80.

Insider Activity

In other news, CEO Clifton A. Pemble sold 7,202 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 149,525 shares in the company, valued at $33,963,108.50. The trade was a 4.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Douglas G. Boessen sold 2,763 shares of the company's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $226.55, for a total transaction of $625,957.65. Following the completion of the sale, the chief financial officer now directly owns 30,936 shares in the company, valued at approximately $7,008,550.80. The trade was a 8.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,342 shares of company stock worth $5,486,094 in the last quarter. Corporate insiders own 19.54% of the company's stock.

Garmin Company 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.