Garmin Ltd. (NYSE:GRMN) Shares Acquired by Xponance Inc.

Xponance Inc. grew its holdings in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 6.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,397 shares of the scientific and technical instruments company's stock after purchasing an additional 1,292 shares during the quarter. Xponance Inc.'s holdings in Garmin were worth $4,620,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. 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, February 20th. JPMorgan Chase & Co. raised 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. Morgan Stanley raised Garmin to a "sell" rating and boosted their price target for the stock from $164.00 to $171.00 in a research report on Tuesday, February 11th. Finally, 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 report on Wednesday, February 26th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $210.80.

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Insiders Place Their Bets

In other Garmin news, CEO Clifton A. Pemble sold 7,202 shares of the 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 directly owns 149,525 shares of the company's stock, valued at approximately $33,963,108.50. This represents a 4.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Patrick Desbois sold 6,911 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief operating officer now owns 63,048 shares in the company, valued at approximately $14,321,353.20. The trade was a 9.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,342 shares of company stock valued at $5,486,094 in the last quarter. Insiders own 19.54% of the company's stock.

Garmin Stock Performance

Shares of GRMN stock traded up $4.00 during mid-day trading on Tuesday, reaching $218.47. 1,079,297 shares of the company were exchanged, compared to its average volume of 804,419. The business's 50 day simple moving average is $217.09 and its 200 day simple moving average is $202.05. The company has a market capitalization of $42.03 billion, a P/E ratio of 29.89, a P/E/G ratio of 1.36 and a beta of 0.96. Garmin Ltd. has a fifty-two week low of $138.86 and a fifty-two week high of $246.50.

Garmin (NYSE:GRMN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share for the quarter, topping the consensus estimate 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 net margin of 22.42% and a return on equity of 19.31%. The firm's revenue for the quarter was up 22.9% compared to the same quarter last year. During the same period last year, the business earned $1.72 EPS. On average, analysts forecast that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Friday, March 13th. Garmin's payout ratio is currently 49.25%.

Garmin Company 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.