Garmin Ltd. (NYSE:GRMN) Shares Sold by Round Hill Asset Management

Round Hill Asset Management lessened its stake in Garmin Ltd. (NYSE:GRMN - Free Report) by 21.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,174 shares of the scientific and technical instruments company's stock after selling 4,490 shares during the quarter. Garmin accounts for approximately 2.4% of Round Hill Asset Management's holdings, making the stock its 12th biggest position. Round Hill Asset Management's holdings in Garmin were worth $3,336,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. HighTower Advisors LLC raised its stake in Garmin by 12.0% during the 3rd quarter. HighTower Advisors LLC now owns 54,922 shares of the scientific and technical instruments company's stock valued at $9,672,000 after buying an additional 5,890 shares during the last quarter. Janus Henderson Group PLC increased its position in Garmin by 5.7% during the third quarter. Janus Henderson Group PLC now owns 19,564 shares of the scientific and technical instruments company's stock valued at $3,444,000 after acquiring an additional 1,060 shares during the last quarter. Royal London Asset Management Ltd. increased its position in Garmin by 1.8% during the third quarter. Royal London Asset Management Ltd. now owns 69,565 shares of the scientific and technical instruments company's stock valued at $12,246,000 after acquiring an additional 1,243 shares during the last quarter. Quantinno Capital Management LP boosted its position in Garmin by 34.1% in the third quarter. Quantinno Capital Management LP now owns 26,461 shares of the scientific and technical instruments company's stock worth $4,658,000 after purchasing an additional 6,734 shares during the last quarter. Finally, Stifel Financial Corp boosted its holdings in shares of Garmin by 19.7% in the third quarter. Stifel Financial Corp now owns 36,387 shares of the scientific and technical instruments company's stock worth $6,406,000 after buying an additional 5,989 shares during the last quarter. Institutional investors own 81.60% of the company's stock.

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Insider Buying and Selling

In other news, COO Patrick Desbois sold 6,911 shares of Garmin stock in a transaction that occurred on Wednesday, February 26th. The shares were 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $1,635,862.28. Following the completion of the sale, the chief executive officer now owns 149,525 shares in the company, valued at $33,963,108.50. This represents a 4.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,342 shares of company stock worth $5,486,094. Insiders own 19.54% of the company's stock.

Garmin Price Performance

NYSE GRMN traded up $2.84 on Friday, hitting $189.67. The stock had a trading volume of 700,983 shares, compared to its average volume of 885,066. The business's fifty day moving average price is $211.57 and its 200 day moving average price is $204.16. The stock has a market cap of $36.49 billion, a price-to-earnings ratio of 25.95, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92. Garmin Ltd. has a 52-week low of $138.86 and a 52-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, 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 business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period in the prior year, the company earned $1.72 earnings per share. The company's revenue was up 22.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Friday, March 13th. Garmin's dividend payout ratio is presently 49.25%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Barclays lifted their price target on shares of Garmin from $158.00 to $188.00 and gave the company an "underweight" rating in a report on Thursday, February 20th. Tigress Financial upped their target price 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. Morgan Stanley raised Garmin to a "sell" rating and raised their price target for the company from $164.00 to $171.00 in a report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. upped their price objective on Garmin from $219.00 to $260.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus 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.