Bank of Montreal Can Sells 35,781 Shares of Garmin Ltd. (NYSE:GRMN)

Bank of Montreal Can lowered its holdings in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 17.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 173,703 shares of the scientific and technical instruments company's stock after selling 35,781 shares during the period. Bank of Montreal Can owned about 0.09% of Garmin worth $35,828,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of GRMN. Janus Henderson Group PLC raised its position in Garmin by 5.7% in the third quarter. Janus Henderson Group PLC now owns 19,564 shares of the scientific and technical instruments company's stock worth $3,444,000 after purchasing an additional 1,060 shares in the last quarter. Stifel Financial Corp increased its position in Garmin by 19.7% in the 3rd quarter. Stifel Financial Corp now owns 36,387 shares of the scientific and technical instruments company's stock valued at $6,406,000 after acquiring an additional 5,989 shares in the last quarter. National Bank of Canada FI raised its position in Garmin by 22.7% in the 3rd quarter. National Bank of Canada FI now owns 15,584 shares of the scientific and technical instruments company's stock worth $2,743,000 after purchasing an additional 2,883 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Garmin during the third quarter worth $668,000. Finally, Orion Portfolio Solutions LLC raised its holdings in Garmin by 9.3% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 7,800 shares of the scientific and technical instruments company's stock worth $1,373,000 after purchasing an additional 664 shares during the last quarter. Institutional investors own 81.60% of the company's stock.

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Insider Activity

In other Garmin news, CEO Clifton A. Pemble sold 7,202 shares of the firm's stock in a transaction 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 completion of the sale, the chief executive officer now owns 149,525 shares of the company's stock, valued at $33,963,108.50. This trade represents a 4.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Susan Lyman sold 2,829 shares of the company's stock in a transaction 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 completion of the transaction, the vice president now owns 8,432 shares in the company, valued at approximately $1,817,180.32. This represents a 25.12 % decrease in their ownership of the stock. 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 Stock Performance

NYSE GRMN traded down $0.24 during trading on Tuesday, hitting $191.86. The stock had a trading volume of 308,669 shares, compared to its average volume of 883,185. Garmin Ltd. has a 12 month low of $138.86 and a 12 month high of $246.50. The company has a market capitalization of $36.91 billion, a PE ratio of 26.27, a P/E/G ratio of 1.36 and a beta of 0.92. The company's 50-day moving average price is $211.03 and its two-hundred day moving average price is $204.49.

Garmin (NYSE:GRMN - Get Free Report) last released its 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. Garmin had a return on equity of 19.31% and a net margin of 22.42%. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the previous year, the business earned $1.72 earnings per share. Garmin's quarterly revenue was up 22.9% on a year-over-year basis. As a group, equities analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.88%. Garmin's payout ratio is 49.25%.

Analyst Upgrades and Downgrades

GRMN has been the topic of a number of analyst reports. Morgan Stanley raised Garmin to a "sell" rating and increased their price target for the company from $164.00 to $171.00 in a research note on Tuesday, February 11th. JPMorgan Chase & Co. boosted their price target on shares of Garmin from $219.00 to $260.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Tigress Financial increased their price target on Garmin from $265.00 to $285.00 and gave the stock a "strong-buy" rating in a report on Wednesday, February 26th. Finally, Barclays lifted their price objective on Garmin from $158.00 to $188.00 and gave the company an "underweight" rating in a 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. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $210.80.

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.