Fmr LLC Sells 86,936 Shares of Garmin Ltd. (NYSE:GRMN)

FMR LLC reduced its stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 2.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,688,218 shares of the scientific and technical instruments company's stock after selling 86,936 shares during the quarter. FMR LLC owned approximately 1.92% of Garmin worth $760,732,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the stock. Passumpsic Savings Bank acquired a new stake in Garmin during the third quarter valued at $3,137,000. Diversified Trust Co purchased a new stake in shares of Garmin during the 4th quarter worth about $734,000. Montrusco Bolton Investments Inc. lifted its holdings in shares of Garmin by 42.5% during the 4th quarter. Montrusco Bolton Investments Inc. now owns 431,188 shares of the scientific and technical instruments company's stock valued at $88,937,000 after buying an additional 128,672 shares during the last quarter. Baskin Financial Services Inc. grew its stake in shares of Garmin by 3.2% in the 4th quarter. Baskin Financial Services Inc. now owns 148,957 shares of the scientific and technical instruments company's stock valued at $30,724,000 after buying an additional 4,616 shares in the last quarter. Finally, Savant Capital LLC increased its holdings in Garmin by 47.2% in the fourth quarter. Savant Capital LLC now owns 9,075 shares of the scientific and technical instruments company's stock worth $1,872,000 after buying an additional 2,910 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Garmin from $219.00 to $260.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. Barclays upped their price objective on shares of Garmin from $158.00 to $188.00 and gave the stock an "underweight" rating in a report on Thursday, February 20th. Morgan Stanley upgraded Garmin to a "sell" rating and raised their target price for the company from $164.00 to $171.00 in a report on Tuesday, February 11th. Finally, Tigress Financial upped their price target on 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 assigned a hold rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $210.80.

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Garmin Stock Up 1.5 %

GRMN stock traded up $2.84 during mid-day trading on Friday, reaching $189.67. 700,983 shares of the stock traded hands, compared to its average volume of 885,646. The firm has a market capitalization of $36.49 billion, a PE ratio of 25.95, a P/E/G ratio of 1.36 and a beta of 0.92. The business has a 50-day moving average of $211.57 and a two-hundred day moving average of $204.37. 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 earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.51. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.70 billion. Garmin had a return on equity of 19.31% and a net margin of 22.42%. The firm's revenue for the quarter was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.72 EPS. On average, equities research analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Friday, March 13th. Garmin's payout ratio is currently 49.25%.

Insider Buying and Selling at Garmin

In related news, VP Susan Lyman sold 2,829 shares of the company's stock in a transaction on Monday, March 10th. The stock was 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 directly owns 8,432 shares in the company, valued at approximately $1,817,180.32. This represents a 25.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Clifton A. Pemble sold 7,202 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $227.14, for a total transaction of $1,635,862.28. Following the completion of the sale, the chief executive officer now directly owns 149,525 shares in the company, valued at $33,963,108.50. This trade represents a 4.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,342 shares of company stock valued at $5,486,094 in the last ninety days. Company insiders own 19.54% of the company's stock.

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.