TD Private Client Wealth LLC Reduces Holdings in Garmin Ltd. (NYSE:GRMN)

TD Private Client Wealth LLC cut its position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 70.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 550 shares of the scientific and technical instruments company's stock after selling 1,309 shares during the quarter. TD Private Client Wealth LLC's holdings in Garmin were worth $113,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of GRMN. Golden State Wealth Management LLC purchased a new position in shares of Garmin during the 4th quarter worth approximately $26,000. Pinnacle Bancorp Inc. acquired a new stake in Garmin during the 4th quarter valued at $29,000. SOA Wealth Advisors LLC. purchased a new position in Garmin during the fourth quarter worth $37,000. Larson Financial Group LLC raised its holdings in shares of Garmin by 578.6% in the third quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company's stock worth $33,000 after acquiring an additional 162 shares during the last quarter. Finally, Kentucky Trust Co purchased a new stake in shares of Garmin in the fourth quarter valued at $41,000. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Barclays lifted their price objective on Garmin from $158.00 to $188.00 and gave the stock an "underweight" rating in a research report on Thursday, February 20th. Morgan Stanley upgraded shares of Garmin to a "sell" rating and lifted their price target for the stock from $164.00 to $171.00 in a report on Tuesday, February 11th. JPMorgan Chase & Co. upped their price objective on shares of Garmin from $219.00 to $260.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Finally, Tigress Financial lifted their target price on shares of Garmin from $265.00 to $285.00 and gave the stock a "strong-buy" rating in a research note 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. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $210.80.

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Garmin Stock Down 1.6 %

Shares of GRMN stock traded down $3.37 during trading hours on Friday, hitting $213.59. 608,540 shares of the company were exchanged, compared to its average volume of 848,724. The firm has a fifty day moving average of $217.31 and a 200 day moving average of $202.89. Garmin Ltd. has a 1 year low of $138.86 and a 1 year high of $246.50. The firm has a market cap of $41.10 billion, a PE ratio of 29.22, a PEG ratio of 1.36 and a beta of 0.96.

Garmin (NYSE:GRMN - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share for the quarter, topping analysts' consensus estimates of $1.90 by $0.51. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.70 billion. Garmin had a net margin of 22.42% and a return on equity of 19.31%. Garmin's revenue was up 22.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.72 earnings per share. Analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Announces Dividend

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

Insiders Place Their Bets

In other news, CEO Clifton A. Pemble sold 7,202 shares of the firm's 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 transaction, the chief executive officer now owns 149,525 shares of the company's stock, valued at approximately $33,963,108.50. This trade represents a 4.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Susan Lyman sold 2,829 shares of Garmin 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 transaction, the vice president now owns 8,432 shares in the company, valued at $1,817,180.32. The trade was a 25.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,342 shares of company stock worth $5,486,094 over the last three months. 19.54% of the stock is owned by insiders.

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.