EFG Asset Management North America Corp. Purchases 4,034 Shares of Garmin Ltd. (NYSE:GRMN)

EFG Asset Management North America Corp. lifted its holdings in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 66.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,066 shares of the scientific and technical instruments company's stock after purchasing an additional 4,034 shares during the quarter. EFG Asset Management North America Corp.'s holdings in Garmin were worth $2,077,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Golden State Wealth Management LLC purchased a new position in Garmin in the fourth quarter valued at approximately $26,000. Pinnacle Bancorp Inc. acquired a new stake in shares of Garmin in the fourth quarter worth $29,000. Larson Financial Group LLC raised its stake in shares of Garmin by 578.6% in the 3rd quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company's stock valued at $33,000 after acquiring an additional 162 shares during the period. SOA Wealth Advisors LLC. purchased a new stake in Garmin during the 4th quarter worth $37,000. Finally, Itau Unibanco Holding S.A. purchased a new position in Garmin in the third quarter valued at about $39,000. Hedge funds and other institutional investors own 81.60% of the company's stock.

Insider Transactions at Garmin

In related news, COO Patrick Desbois sold 6,911 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $227.15, for a total value of $1,569,833.65. Following the completion of the sale, the chief operating officer now owns 63,048 shares of the company's stock, valued at approximately $14,321,353.20. The trade was a 9.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Susan Lyman sold 2,829 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $215.51, for a total value of $609,677.79. Following the transaction, the vice president now directly owns 8,432 shares in the company, valued at approximately $1,817,180.32. This represents a 25.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,342 shares of company stock valued at $5,486,094 over the last three months. 19.54% of the stock is owned by corporate insiders.

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Garmin Trading Down 1.6 %

GRMN traded down $3.37 during trading on Friday, reaching $213.59. 608,540 shares of the company were exchanged, compared to its average volume of 848,724. Garmin Ltd. has a 52 week low of $138.86 and a 52 week high of $246.50. The stock has a market cap of $41.10 billion, a P/E ratio of 29.22, a PEG ratio of 1.36 and a beta of 0.96. The firm has a 50 day moving average of $217.31 and a 200 day moving average of $202.89.

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 EPS for the quarter, beating the consensus estimate of $1.90 by $0.51. Garmin had a net margin of 22.42% and a return on equity of 19.31%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the prior year, the firm earned $1.72 EPS. The firm's quarterly revenue was up 22.9% on a year-over-year basis. As a group, analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Friday, March 13th. Garmin's dividend payout ratio (DPR) is 49.25%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. upped their target price 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 company a "strong-buy" rating in a research note on Wednesday, February 26th. Morgan Stanley raised shares of Garmin to a "sell" rating and boosted their target price for the stock from $164.00 to $171.00 in a research report on Tuesday, February 11th. Finally, Barclays upped their target price 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. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Garmin presently has a consensus rating of "Hold" and an average price target 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.