Barclays PLC Sells 93,521 Shares of Garmin Ltd. (NYSE:GRMN)

Barclays PLC decreased its stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 25.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 275,818 shares of the scientific and technical instruments company's stock after selling 93,521 shares during the quarter. Barclays PLC owned about 0.14% of Garmin worth $56,891,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Golden State Wealth Management LLC purchased a new position in shares of Garmin during the fourth quarter valued at about $26,000. Aster Capital Management DIFC Ltd boosted its stake in Garmin by 864.3% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company's stock valued at $28,000 after buying an additional 121 shares during the last quarter. Pinnacle Bancorp Inc. purchased a new position in Garmin during the 4th quarter valued at approximately $29,000. SOA Wealth Advisors LLC. bought a new stake in Garmin in the 4th quarter worth approximately $37,000. Finally, Kentucky Trust Co purchased a new stake in shares of Garmin during the 4th quarter worth approximately $41,000. 81.60% of the stock is currently owned by institutional investors.

Garmin Stock Performance

GRMN stock traded up $3.23 during mid-day trading on Tuesday, reaching $190.06. 53,726 shares of the stock traded hands, compared to its average volume of 1,007,148. Garmin Ltd. has a one year low of $140.46 and a one year high of $246.50. The stock has a market capitalization of $36.57 billion, a PE ratio of 26.00, a PEG ratio of 1.36 and a beta of 0.92. The business has a 50-day moving average price of $208.55 and a two-hundred day moving average price of $205.12.

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, beating the consensus estimate 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%. The firm's revenue was up 22.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.72 EPS. On average, equities analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The firm 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 dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Friday, March 13th. Garmin's dividend payout ratio is currently 49.25%.

Insider Activity at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 2,763 shares of the company's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $226.55, for a total value of $625,957.65. Following the completion of the sale, the chief financial officer now directly owns 30,936 shares in the company, valued at approximately $7,008,550.80. This represents a 8.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Susan Lyman sold 2,829 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $215.51, for a total value of $609,677.79. Following the transaction, the vice president now owns 8,432 shares in the company, 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. Insiders sold a total of 24,342 shares of company stock worth $5,486,094 in the last quarter. 19.54% of the stock is owned by company insiders.

Analyst Ratings Changes

GRMN has been the subject of a number of recent research reports. Barclays raised their target price on shares of Garmin from $158.00 to $188.00 and gave the company an "underweight" rating in a report on Thursday, February 20th. Morgan Stanley raised shares of Garmin to a "sell" rating and lifted their price objective for the stock from $164.00 to $171.00 in a research note on Tuesday, February 11th. Tigress Financial upped their target price 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. Finally, JPMorgan Chase & Co. dropped their price target on Garmin from $260.00 to $220.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Garmin presently has a consensus rating of "Hold" and a consensus price target of $202.80.

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.