Elo Mutual Pension Insurance Co increased its holdings in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 15.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,702 shares of the scientific and technical instruments company's stock after buying an additional 2,104 shares during the quarter. Elo Mutual Pension Insurance Co's holdings in Garmin were worth $3,239,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently bought and sold shares of GRMN. Vanguard Group Inc. boosted its position in Garmin by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 18,067,708 shares of the scientific and technical instruments company's stock valued at $3,726,645,000 after purchasing an additional 215,344 shares during the last quarter. State Street Corp raised its stake in shares of Garmin by 2.0% during the 3rd quarter. State Street Corp now owns 6,912,536 shares of the scientific and technical instruments company's stock worth $1,216,819,000 after purchasing an additional 134,303 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Garmin by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,363,464 shares of the scientific and technical instruments company's stock valued at $765,912,000 after buying an additional 112,815 shares during the last quarter. FMR LLC grew its stake in shares of Garmin by 40.8% in the 3rd quarter. FMR LLC now owns 3,775,154 shares of the scientific and technical instruments company's stock valued at $664,540,000 after buying an additional 1,093,219 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its position in Garmin by 3.6% during the third quarter. Disciplined Growth Investors Inc. MN now owns 1,401,004 shares of the scientific and technical instruments company's stock valued at $246,619,000 after acquiring an additional 48,645 shares in the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other Garmin news, CEO Clifton A. Pemble sold 7,202 shares of Garmin stock in a transaction 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 sale, the chief executive officer now owns 149,525 shares in the company, valued at $33,963,108.50. The trade was a 4.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Susan Lyman sold 2,829 shares of the 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 of the company's stock, 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. Over the last 90 days, insiders sold 24,342 shares of company stock valued at $5,486,094. Insiders own 19.54% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have commented on the stock. Barclays boosted their target price on shares of Garmin from $158.00 to $188.00 and gave the stock an "underweight" rating in a research report on Thursday, February 20th. 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. JPMorgan Chase & Co. boosted their price target on Garmin from $219.00 to $260.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. Finally, Tigress Financial increased their price objective on Garmin from $265.00 to $285.00 and gave the company a "strong-buy" rating in a report on Wednesday, February 26th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $210.80.
Check Out Our Latest Stock Report on GRMN
Garmin Stock Performance
Shares of Garmin stock traded up $0.70 during trading on Wednesday, reaching $218.27. The company's stock had a trading volume of 218,777 shares, compared to its average volume of 848,190. Garmin Ltd. has a one year low of $138.86 and a one year high of $246.50. The firm has a market cap of $42.00 billion, a price-to-earnings ratio of 29.85, a price-to-earnings-growth ratio of 1.36 and a beta of 0.96. The business's fifty day moving average price is $217.34 and its 200-day moving average price is $203.59.
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, topping analysts' consensus estimates of $1.90 by $0.51. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.70 billion. Garmin had a return on equity of 19.31% and a net margin of 22.42%. The company's quarterly revenue was up 22.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.72 earnings per share. Sell-side analysts anticipate 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 issued a dividend of $0.90 per share. The ex-dividend date is Friday, March 13th. This represents a $3.60 annualized dividend and a dividend yield of 1.65%. Garmin's payout ratio is 49.25%.
Garmin Company Profile
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Free Report)
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.
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