Handelsbanken Fonder AB Has $24.46 Million Holdings in Garmin Ltd. (NYSE:GRMN)

Handelsbanken Fonder AB raised its position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 28.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 118,591 shares of the scientific and technical instruments company's stock after purchasing an additional 26,555 shares during the period. Handelsbanken Fonder AB owned 0.06% of Garmin worth $24,461,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new stake in shares of Garmin during the 4th quarter worth about $26,000. Pinnacle Bancorp Inc. acquired a new stake in Garmin during the fourth quarter valued at approximately $29,000. Larson Financial Group LLC lifted its position in shares of Garmin by 578.6% in the 3rd quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company's stock valued at $33,000 after acquiring an additional 162 shares in the last quarter. SOA Wealth Advisors LLC. purchased a new stake in shares of Garmin in the 4th quarter valued at approximately $37,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of Garmin in the 3rd quarter valued at approximately $39,000. 81.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. 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 report on Thursday. Tigress Financial upped their price target on shares of Garmin from $215.00 to $265.00 and gave the company a "strong-buy" rating in a research report on Monday, December 16th. Morgan Stanley upgraded shares of Garmin to a "sell" rating and upped their price target for the company from $164.00 to $171.00 in a research report on Tuesday, February 11th. Finally, Barclays upped their price target on shares of Garmin from $158.00 to $188.00 and gave the company an "underweight" rating in a research report on Thursday. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $195.67.

Insider Transactions at Garmin

In related news, CFO Douglas G. Boessen sold 1,761 shares of the business's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $207.99, for a total transaction of $366,270.39. Following the transaction, the chief financial officer now directly owns 27,612 shares in the company, valued at approximately $5,743,019.88. The trade was a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 19.54% of the stock is currently owned by insiders.

Garmin Price Performance

Garmin stock traded down $4.34 during trading hours on Friday, hitting $224.67. The company had a trading volume of 1,072,638 shares, compared to its average volume of 838,615. The firm's fifty day moving average is $213.24 and its 200-day moving average is $195.07. Garmin Ltd. has a fifty-two week low of $131.20 and a fifty-two week high of $246.50. The firm has a market capitalization of $43.14 billion, a P/E ratio of 30.73, a price-to-earnings-growth ratio of 1.44 and a beta of 0.98.

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

Garmin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Friday, March 13th. Garmin's dividend payout ratio is presently 41.04%.

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.