Aviva PLC grew its holdings in Garmin Ltd. (NYSE:GRMN - Free Report) by 12.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 95,521 shares of the scientific and technical instruments company's stock after purchasing an additional 10,503 shares during the period. Aviva PLC's holdings in Garmin were worth $19,702,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the business. Geneos Wealth Management Inc. increased its stake in Garmin by 1.7% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,863 shares of the scientific and technical instruments company's stock valued at $591,000 after buying an additional 49 shares during the last quarter. Curbstone Financial Management Corp grew its holdings in shares of Garmin by 1.3% in the 4th quarter. Curbstone Financial Management Corp now owns 3,886 shares of the scientific and technical instruments company's stock valued at $802,000 after acquiring an additional 50 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Garmin by 26.8% in the fourth quarter. Larson Financial Group LLC now owns 241 shares of the scientific and technical instruments company's stock valued at $50,000 after acquiring an additional 51 shares during the last quarter. Addison Advisors LLC raised its holdings in Garmin by 11.1% during the fourth quarter. Addison Advisors LLC now owns 522 shares of the scientific and technical instruments company's stock worth $108,000 after acquiring an additional 52 shares in the last quarter. Finally, HB Wealth Management LLC boosted its position in Garmin by 1.4% during the fourth quarter. HB Wealth Management LLC now owns 3,821 shares of the scientific and technical instruments company's stock valued at $788,000 after purchasing an additional 53 shares during the last quarter. Institutional investors own 81.60% of the company's stock.
Wall Street Analysts Forecast Growth
GRMN has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price target on Garmin from $219.00 to $260.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. Morgan Stanley upgraded shares of Garmin to a "sell" rating and boosted their target price for the stock from $164.00 to $171.00 in a report on Tuesday, February 11th. Tigress Financial increased their price target on shares of Garmin from $265.00 to $285.00 and gave the company a "strong-buy" rating in a research note on Wednesday, February 26th. Finally, Barclays lifted their price objective on shares of Garmin from $158.00 to $188.00 and gave the company an "underweight" rating in a research report on Thursday, February 20th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $210.80.
Check Out Our Latest Report on GRMN
Garmin Trading Up 1.5 %
Shares of NYSE:GRMN traded up $2.84 on Friday, hitting $189.67. The company had a trading volume of 700,983 shares, compared to its average volume of 885,646. The stock has a market cap of $36.49 billion, a price-to-earnings ratio of 25.95, a P/E/G ratio of 1.36 and a beta of 0.92. The stock has a 50 day moving average price of $211.57 and a 200 day moving average price of $204.37. Garmin Ltd. has a 1-year low of $138.86 and a 1-year high of $246.50.
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 EPS for the quarter, beating analysts' consensus estimates of $1.90 by $0.51. The business 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 quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.72 EPS. Sell-side analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.
Garmin Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be paid a $0.90 dividend. The ex-dividend date is Friday, March 13th. This represents a $3.60 annualized dividend and a yield of 1.90%. Garmin's dividend payout ratio (DPR) is presently 49.25%.
Insider Activity at Garmin
In other Garmin news, VP Susan Lyman sold 2,829 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $215.51, for a total transaction of $609,677.79. Following the transaction, the vice president now owns 8,432 shares in the company, valued at $1,817,180.32. This represents a 25.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Clifton A. Pemble sold 7,202 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The stock was 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. This represents a 4.60 % 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 ninety days. 19.54% of the stock is 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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