Groupama Asset Managment grew its position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 85.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,533 shares of the scientific and technical instruments company's stock after buying an additional 3,921 shares during the quarter. Groupama Asset Managment's holdings in Garmin were worth $1,770,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of GRMN. Norges Bank purchased a new position in Garmin in the fourth quarter valued at about $396,184,000. Jacobs Levy Equity Management Inc. raised its holdings in shares of Garmin by 1,580.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 287,283 shares of the scientific and technical instruments company's stock worth $50,570,000 after purchasing an additional 270,186 shares during the period. Vanguard Group Inc. lifted its stake in Garmin by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 18,067,708 shares of the scientific and technical instruments company's stock valued at $3,726,645,000 after purchasing an additional 215,344 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in Garmin by 32.2% during the fourth quarter. Allianz Asset Management GmbH now owns 675,950 shares of the scientific and technical instruments company's stock valued at $139,421,000 after purchasing an additional 164,818 shares during the period. Finally, Teacher Retirement System of Texas increased its position in Garmin by 79.3% in the fourth quarter. Teacher Retirement System of Texas now owns 361,490 shares of the scientific and technical instruments company's stock worth $74,561,000 after buying an additional 159,860 shares during the last quarter. 81.60% of the stock is owned by institutional investors.
Garmin Stock Performance
Garmin stock traded down $7.16 during midday trading on Friday, reaching $178.18. 2,506,525 shares of the stock were exchanged, compared to its average volume of 869,197. The company's fifty day moving average is $216.05 and its 200-day moving average is $203.83. Garmin Ltd. has a 52 week low of $138.86 and a 52 week high of $246.50. The firm has a market cap of $34.28 billion, a PE ratio of 24.37, a PEG ratio of 1.36 and a beta of 0.96.
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. Garmin had a return on equity of 19.31% and a net margin of 22.42%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter last year, the business posted $1.72 earnings per share. The firm's revenue was up 22.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.
Garmin Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Friday, March 13th. Garmin's dividend payout ratio (DPR) is 49.25%.
Insider Activity at Garmin
In related news, VP Susan Lyman sold 2,829 shares of the business's stock in a transaction that occurred 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 sale, 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Patrick Desbois sold 6,911 shares of Garmin stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $227.15, for a total transaction of $1,569,833.65. Following the transaction, the chief operating officer now directly owns 63,048 shares in the company, valued at $14,321,353.20. This trade represents a 9.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,342 shares of company stock valued at $5,486,094 over the last three months. 19.54% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on GRMN. Barclays upped their price target 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 upgraded shares of Garmin to a "sell" rating and increased their target price for the stock from $164.00 to $171.00 in a research report on Tuesday, February 11th. 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. Finally, JPMorgan Chase & Co. upped their price target 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. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $210.80.
Read Our Latest Research Report on Garmin
About Garmin
(
Free Report)
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.
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