4,898 Shares in Garmin Ltd. (NYSE:GRMN) Bought by AXQ Capital LP

AXQ Capital LP bought a new position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 4,898 shares of the scientific and technical instruments company's stock, valued at approximately $1,010,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new stake in Garmin in the fourth quarter worth about $26,000. Pinnacle Bancorp Inc. bought a new stake in shares of Garmin in the 4th quarter worth approximately $29,000. Larson Financial Group LLC lifted its stake in Garmin by 578.6% in the third quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company's stock valued at $33,000 after purchasing an additional 162 shares during the last quarter. SOA Wealth Advisors LLC. bought a new position in Garmin during the fourth quarter valued at $37,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in Garmin in the third quarter worth $39,000. 81.60% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Garmin

In other Garmin news, CEO Clifton A. Pemble sold 7,202 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 149,525 shares in the company, valued at $33,963,108.50. This trade represents a 4.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Susan Lyman sold 2,829 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $215.51, for a total transaction of $609,677.79. Following the completion of the sale, the vice president now 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,342 shares of company stock valued at $5,486,094. Insiders own 19.54% of the company's stock.

Remove Ads

Garmin Stock Down 0.7 %

Shares of GRMN stock traded down $1.62 on Wednesday, reaching $216.95. The company's stock had a trading volume of 781,591 shares, compared to its average volume of 806,583. The company has a market capitalization of $41.74 billion, a P/E ratio of 29.68, a PEG ratio of 1.36 and a beta of 0.96. Garmin Ltd. has a 12-month low of $138.86 and a 12-month high of $246.50. The stock's 50 day simple moving average is $217.23 and its 200-day simple moving average is $202.32.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 19.31% and a net margin of 22.42%. The company's revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter last year, the company posted $1.72 EPS. Research analysts expect that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Friday, March 13th. Garmin's dividend payout ratio (DPR) is currently 49.25%.

Analyst Upgrades and Downgrades

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

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.