Grantham Mayo Van Otterloo & Co. LLC Sells 6,321 Shares of Garmin Ltd. (NYSE:GRMN)

Grantham Mayo Van Otterloo & Co. LLC trimmed its stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 23.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,395 shares of the scientific and technical instruments company's stock after selling 6,321 shares during the period. Grantham Mayo Van Otterloo & Co. LLC's holdings in Garmin were worth $4,207,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GRMN. Golden State Wealth Management LLC bought a new position in shares of Garmin during the fourth quarter worth about $26,000. Pinnacle Bancorp Inc. acquired a new position in Garmin during the 4th quarter worth approximately $29,000. SOA Wealth Advisors LLC. bought a new position in shares of Garmin during the 4th quarter worth approximately $37,000. Kentucky Trust Co acquired a new stake in shares of Garmin in the fourth quarter valued at approximately $41,000. Finally, Venturi Wealth Management LLC lifted its position in shares of Garmin by 67.7% in the fourth quarter. Venturi Wealth Management LLC now owns 208 shares of the scientific and technical instruments company's stock worth $43,000 after purchasing an additional 84 shares in the last quarter. 81.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

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Garmin Trading Up 1.5 %

Garmin stock traded up $2.84 during midday trading on Friday, reaching $189.67. The company's stock had a trading volume of 700,983 shares, compared to its average volume of 885,646. The stock has a market cap of $36.49 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92. Garmin Ltd. has a 52 week low of $138.86 and a 52 week high of $246.50. The business has a 50-day moving average price of $211.57 and a 200-day moving average price of $204.37.

Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings data 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 company had revenue of $1.82 billion for 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%. Garmin's revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter last year, the business posted $1.72 EPS. As a group, research analysts predict that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a $0.90 dividend. The ex-dividend date is Friday, March 13th. This represents a $3.60 annualized dividend and a dividend yield of 1.90%. Garmin's payout ratio is 49.25%.

Insider Transactions at Garmin

In related news, CEO Clifton A. Pemble sold 7,202 shares of Garmin 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 transaction, the chief executive officer now owns 149,525 shares of the company's stock, valued at $33,963,108.50. This trade represents a 4.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Susan Lyman sold 2,829 shares of Garmin stock in a transaction dated 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 of the company's stock, valued at approximately $1,817,180.32. This trade represents a 25.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,342 shares of company stock worth $5,486,094 over the last ninety days. 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.