Kestra Investment Management LLC Has $982,000 Holdings in Garmin Ltd. (NYSE:GRMN)

Kestra Investment Management LLC lifted its holdings in Garmin Ltd. (NYSE:GRMN - Free Report) by 53.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,759 shares of the scientific and technical instruments company's stock after buying an additional 1,649 shares during the period. Kestra Investment Management LLC's holdings in Garmin were worth $982,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC increased its holdings 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 purchasing an additional 1,093,219 shares during the period. Montrusco Bolton Investments Inc. acquired a new position in shares of Garmin in the 3rd quarter valued at about $53,252,000. Jacobs Levy Equity Management Inc. increased its holdings in shares of Garmin by 1,580.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 287,283 shares of the scientific and technical instruments company's stock valued at $50,570,000 after purchasing an additional 270,186 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in shares of Garmin by 123.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 486,281 shares of the scientific and technical instruments company's stock valued at $85,600,000 after purchasing an additional 268,996 shares during the period. Finally, KBC Group NV boosted its stake in shares of Garmin by 560.8% during the 3rd quarter. KBC Group NV now owns 203,713 shares of the scientific and technical instruments company's stock valued at $35,860,000 after buying an additional 172,883 shares during the period. Institutional investors and hedge funds own 81.60% of the company's stock.

Insider Transactions at Garmin

In other news, CFO Douglas G. Boessen sold 1,761 shares of the firm's stock in a transaction on Friday, December 20th. The stock was sold at an average price of $207.99, for a total value of $366,270.39. Following the completion of the sale, the chief financial officer now directly owns 27,612 shares in the company, valued at approximately $5,743,019.88. This trade represents a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 19.54% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

GRMN has been the subject of a number of research reports. Morgan Stanley raised shares of Garmin to a "sell" rating and lifted their target price for the company from $164.00 to $171.00 in a research note on Tuesday, February 11th. JPMorgan Chase & Co. upped their target price on Garmin from $219.00 to $260.00 and gave the stock a "neutral" rating in a research report on Thursday. Tigress Financial upped their target price on Garmin from $215.00 to $265.00 and gave the stock a "strong-buy" rating in a research report on Monday, December 16th. Finally, Barclays lifted 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. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $195.67.

Garmin Stock Performance

Shares of NYSE:GRMN traded down $4.34 during midday trading on Friday, hitting $224.67. The company's stock had a trading volume of 1,072,638 shares, compared to its average volume of 838,615. Garmin Ltd. has a fifty-two week low of $131.20 and a fifty-two week high of $246.50. The stock's 50 day simple moving average is $213.24 and its 200 day simple moving average is $195.07. The stock has a market capitalization of $43.14 billion, a price-to-earnings ratio of 30.73, a PEG ratio of 1.44 and a beta of 0.98.

Garmin (NYSE:GRMN - Get Free Report) last announced 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. The business had revenue of $1.82 billion for 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%. Garmin's quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.72 EPS. As a group, analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Friday, March 13th. Garmin's payout ratio is currently 41.04%.

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.