National Bank of Canada FI Has $17.83 Million Stock Position in Garmin Ltd. (NYSE:GRMN)

National Bank of Canada FI raised its position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 454.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 86,433 shares of the scientific and technical instruments company's stock after buying an additional 70,849 shares during the quarter. National Bank of Canada FI's holdings in Garmin were worth $17,831,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC acquired a new stake in shares of Garmin in the fourth quarter worth about $26,000. Pinnacle Bancorp Inc. acquired a new position in shares of Garmin in the 4th quarter valued at $29,000. SOA Wealth Advisors LLC. bought a new stake in shares of Garmin in the 4th quarter valued at approximately $37,000. Kentucky Trust Co bought a new position in shares of Garmin during the fourth quarter valued at $41,000. Finally, Venturi Wealth Management LLC increased its holdings in shares of Garmin by 67.7% during the fourth quarter. Venturi Wealth Management LLC now owns 208 shares of the scientific and technical instruments company's stock worth $43,000 after buying an additional 84 shares in the last quarter. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Garmin

In other Garmin news, COO Patrick Desbois sold 6,911 shares of the business's 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 completion of the transaction, the chief operating officer now directly owns 63,048 shares in the company, valued at $14,321,353.20. The trade was a 9.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 value of $609,677.79. Following the completion of the transaction, the vice president now owns 8,432 shares in the company, valued at approximately $1,817,180.32. The trade was a 25.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,342 shares of company stock valued at $5,486,094. 19.54% of the stock is currently owned by company insiders.

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Garmin Stock Down 3.9 %

Shares of GRMN traded down $7.16 during trading hours on Friday, hitting $178.18. The company had a trading volume of 2,506,525 shares, compared to its average volume of 869,197. The firm has a market cap of $34.28 billion, a price-to-earnings ratio of 24.37, a PEG ratio of 1.36 and a beta of 0.96. The business has a fifty day moving average of $216.05 and a 200-day moving average of $203.83. Garmin Ltd. has a 12 month low of $138.86 and a 12 month high of $246.50.

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

Garmin Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, March 13th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.02%. Garmin's payout ratio is presently 49.25%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on GRMN shares. Morgan Stanley upgraded Garmin to a "sell" rating and boosted their target price for the stock from $164.00 to $171.00 in a research report on Tuesday, February 11th. Barclays boosted their price objective on shares of Garmin from $158.00 to $188.00 and gave the company an "underweight" rating in a research report on Thursday, February 20th. Tigress Financial increased their price objective on Garmin from $265.00 to $285.00 and gave the stock a "strong-buy" rating in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upped their price target on Garmin from $219.00 to $260.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $210.80.

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.