Garmin Ltd. (NYSE:GRMN) Stock Position Boosted by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC increased its position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 622.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,191 shares of the scientific and technical instruments company's stock after acquiring an additional 9,643 shares during the quarter. Bryn Mawr Capital Management LLC's holdings in Garmin were worth $2,308,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GRMN. Global Retirement Partners LLC boosted its stake in Garmin by 79.0% in the 4th quarter. Global Retirement Partners LLC now owns 940 shares of the scientific and technical instruments company's stock worth $194,000 after buying an additional 415 shares during the last quarter. Convergence Investment Partners LLC boosted its position in shares of Garmin by 34.0% in the fourth quarter. Convergence Investment Partners LLC now owns 12,660 shares of the scientific and technical instruments company's stock worth $2,611,000 after acquiring an additional 3,212 shares during the last quarter. Northcape Wealth Management LLC purchased a new stake in Garmin in the fourth quarter valued at approximately $208,000. Bank of Jackson Hole Trust acquired a new position in Garmin during the fourth quarter worth approximately $124,000. Finally, Kestra Investment Management LLC raised its stake in Garmin by 53.0% during the fourth quarter. Kestra Investment Management LLC now owns 4,759 shares of the scientific and technical instruments company's stock worth $982,000 after purchasing an additional 1,649 shares during the period. 81.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GRMN has been the subject of a number of research analyst reports. Tigress Financial upped their price objective on Garmin from $215.00 to $265.00 and gave the stock a "strong-buy" rating in a report on Monday, December 16th. Morgan Stanley upgraded Garmin to a "sell" rating and upped their price target for the stock from $164.00 to $171.00 in a research note on Tuesday, February 11th. Barclays raised their price objective on Garmin from $158.00 to $188.00 and gave the stock an "underweight" rating in a report on Thursday. Finally, JPMorgan Chase & Co. boosted their target price on Garmin from $219.00 to $260.00 and gave the stock a "neutral" rating in a report on Thursday. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $195.67.

Garmin Trading Down 1.9 %

Shares of GRMN traded down $4.34 during midday trading on Friday, reaching $224.67. 1,072,638 shares of the company were exchanged, compared to its average volume of 838,615. Garmin Ltd. has a 1-year low of $131.20 and a 1-year high of $246.50. The stock has a 50-day moving average price of $213.24 and a 200-day moving average price of $195.07. The company has a market cap of $43.14 billion, a price-to-earnings ratio of 30.73, a P/E/G ratio of 1.44 and a beta of 0.98.

Garmin (NYSE:GRMN - Get Free Report) last released 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. Garmin had a return on equity of 19.31% and a net margin of 22.42%. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period in the previous year, the company posted $1.72 EPS. Garmin's revenue for the quarter was up 22.9% on a year-over-year basis. Equities research analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current 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 issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Friday, March 13th. Garmin's payout ratio is 41.04%.

Insider Buying and Selling

In other Garmin news, CFO Douglas G. Boessen sold 1,761 shares of Garmin stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $207.99, for a total transaction of $366,270.39. Following the sale, the chief financial officer now directly owns 27,612 shares in the company, valued at $5,743,019.88. The trade was a 6.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 19.54% of the stock is currently owned by insiders.

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.