Invesco Ltd. lifted its holdings in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 9.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,708,886 shares of the scientific and technical instruments company's stock after buying an additional 149,210 shares during the period. Invesco Ltd. owned approximately 0.89% of Garmin worth $352,475,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. increased its position in Garmin by 1.7% during the fourth quarter. Geneos Wealth Management Inc. now owns 2,863 shares of the scientific and technical instruments company's stock valued at $591,000 after acquiring an additional 49 shares during the last quarter. Curbstone Financial Management Corp increased its holdings in Garmin by 1.3% in the 4th quarter. Curbstone Financial Management Corp now owns 3,886 shares of the scientific and technical instruments company's stock worth $802,000 after acquiring an additional 50 shares in the last quarter. Larson Financial Group LLC lifted its holdings in Garmin by 26.8% during the fourth quarter. Larson Financial Group LLC now owns 241 shares of the scientific and technical instruments company's stock valued at $50,000 after purchasing an additional 51 shares in the last quarter. Addison Advisors LLC boosted its position in shares of Garmin by 11.1% in the fourth quarter. Addison Advisors LLC now owns 522 shares of the scientific and technical instruments company's stock worth $108,000 after purchasing an additional 52 shares during the period. Finally, HB Wealth Management LLC raised its position in shares of Garmin by 1.4% during the 4th quarter. HB Wealth Management LLC now owns 3,821 shares of the scientific and technical instruments company's stock valued at $788,000 after purchasing an additional 53 shares during the period. 81.60% of the stock is currently owned by institutional investors.
Garmin Stock Performance
Shares of GRMN traded up $1.11 during mid-day trading on Tuesday, hitting $193.21. 141,928 shares of the stock were exchanged, compared to its average volume of 882,469. The company has a market cap of $37.17 billion, a PE ratio of 26.43, 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 firm has a 50-day moving average of $211.03 and a two-hundred day moving average of $204.49.
Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $1.70 billion. During the same quarter in the prior year, the firm earned $1.72 earnings per share. Garmin's revenue was up 22.9% on a year-over-year basis. On average, sell-side analysts predict that Garmin Ltd. will post 7.8 EPS for the current year.
Garmin Announces Dividend
The business also recently disclosed 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 of this dividend is Friday, March 13th. This represents a $3.60 dividend on an annualized basis and a yield of 1.86%. Garmin's dividend payout ratio (DPR) is presently 49.25%.
Insider Activity
In other news, CFO Douglas G. Boessen sold 2,763 shares of the company's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $226.55, for a total transaction of $625,957.65. Following the transaction, the chief financial officer now owns 30,936 shares of the company's stock, valued at approximately $7,008,550.80. This represents a 8.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Patrick Desbois sold 6,911 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $227.15, for a total value of $1,569,833.65. Following the sale, the chief operating officer now directly owns 63,048 shares of the company's stock, valued at $14,321,353.20. This represents a 9.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,342 shares of company stock valued at $5,486,094. 19.54% of the stock is currently owned by insiders.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the company. Tigress Financial increased 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. Barclays increased their target price on Garmin from $158.00 to $188.00 and gave the stock an "underweight" rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. boosted their price target on Garmin from $219.00 to $260.00 and gave the stock a "neutral" rating in a report on Thursday, February 20th. Finally, Morgan Stanley upgraded shares of Garmin to a "sell" rating and lifted their price objective for the company from $164.00 to $171.00 in a research report on Tuesday, February 11th. 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. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $210.80.
Read Our Latest Stock Analysis on GRMN
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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