Dynamic Technology Lab Private Ltd Buys Shares of 4,172 Garmin Ltd. (NYSE:GRMN)

Dynamic Technology Lab Private Ltd bought a new stake in Garmin Ltd. (NYSE:GRMN - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,172 shares of the scientific and technical instruments company's stock, valued at approximately $861,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Passumpsic Savings Bank purchased a new stake in shares of Garmin during the third quarter worth about $3,137,000. Diversified Trust Co acquired a new stake in Garmin during the fourth quarter worth approximately $734,000. Montrusco Bolton Investments Inc. grew its stake in Garmin by 42.5% in the 4th quarter. Montrusco Bolton Investments Inc. now owns 431,188 shares of the scientific and technical instruments company's stock worth $88,937,000 after acquiring an additional 128,672 shares during the period. Baskin Financial Services Inc. raised its holdings in Garmin by 3.2% in the 4th quarter. Baskin Financial Services Inc. now owns 148,957 shares of the scientific and technical instruments company's stock valued at $30,724,000 after acquiring an additional 4,616 shares during the last quarter. Finally, Savant Capital LLC lifted its stake in shares of Garmin by 47.2% during the 4th quarter. Savant Capital LLC now owns 9,075 shares of the scientific and technical instruments company's stock worth $1,872,000 after purchasing an additional 2,910 shares during the period. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Garmin Price Performance

GRMN traded up $0.30 during trading hours on Friday, reaching $187.13. 185,218 shares of the stock traded hands, compared to its average volume of 881,573. Garmin Ltd. has a fifty-two week low of $138.86 and a fifty-two week high of $246.50. The company has a market cap of $36.01 billion, a price-to-earnings ratio of 25.61, a PEG ratio of 1.36 and a beta of 0.92. The firm's fifty day simple moving average is $212.14 and its two-hundred day simple moving average is $204.05.

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Garmin (NYSE:GRMN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share 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 firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same quarter last year, the firm earned $1.72 EPS. Garmin's quarterly revenue was up 22.9% on a year-over-year basis. On average, research analysts predict that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid 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 1.92%. Garmin's dividend payout ratio (DPR) is presently 49.25%.

Wall Street Analyst Weigh In

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

Insider Transactions at Garmin

In related 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 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 document filed with the SEC, which is available through this hyperlink. Also, COO Patrick Desbois sold 6,911 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $227.15, for a total transaction of $1,569,833.65. Following the sale, the chief operating officer now directly owns 63,048 shares in the company, valued at $14,321,353.20. This trade represents a 9.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,342 shares of company stock valued at $5,486,094. Insiders own 19.54% of the company's stock.

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.