Jump Financial LLC Raises Stock Holdings in Garmin Ltd. (NYSE:GRMN)

Jump Financial LLC raised its holdings in Garmin Ltd. (NYSE:GRMN - Free Report) by 285.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,996 shares of the scientific and technical instruments company's stock after buying an additional 31,829 shares during the period. Jump Financial LLC's holdings in Garmin were worth $8,868,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Passumpsic Savings Bank acquired a new position in Garmin during the 3rd quarter valued at about $3,137,000. Diversified Trust Co bought a new position in shares of Garmin in the fourth quarter valued at approximately $734,000. Montrusco Bolton Investments Inc. boosted its position in shares of Garmin by 42.5% during the fourth 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 holdings in Garmin by 3.2% during the fourth quarter. Baskin Financial Services Inc. now owns 148,957 shares of the scientific and technical instruments company's stock worth $30,724,000 after buying an additional 4,616 shares in the last quarter. Finally, Savant Capital LLC raised its position in Garmin by 47.2% in the 4th quarter. Savant Capital LLC now owns 9,075 shares of the scientific and technical instruments company's stock valued at $1,872,000 after buying an additional 2,910 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GRMN. Morgan Stanley raised shares of Garmin to a "sell" rating and lifted their price objective for the stock from $164.00 to $171.00 in a report on Tuesday, February 11th. Tigress Financial upped their price objective on shares of Garmin from $265.00 to $285.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, February 26th. Barclays lifted their target price on shares of Garmin from $158.00 to $188.00 and gave the stock an "underweight" rating in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. reduced their target price on Garmin from $260.00 to $220.00 and set a "neutral" rating for the company in a report on Thursday. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Garmin presently has an average rating of "Hold" and an average price target of $202.80.

Insider Buying and Selling

In related news, Director Matthew Munn sold 4,637 shares of the business's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $225.31, for a total transaction of $1,044,762.47. Following the completion of the transaction, the director now owns 11,450 shares of the company's stock, valued at approximately $2,579,799.50. The trade was a 28.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Susan Lyman sold 2,829 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $215.51, for a total transaction 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. This represents a 25.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,342 shares of company stock valued at $5,486,094. Company insiders own 19.54% of the company's stock.

Garmin Stock Down 2.4 %

Garmin stock traded down $4.51 during trading on Monday, hitting $186.10. The stock had a trading volume of 89,246 shares, compared to its average volume of 872,905. The stock's 50 day moving average is $209.00 and its two-hundred day moving average is $205.00. Garmin Ltd. has a 1 year low of $139.65 and a 1 year high of $246.50. The stock has a market cap of $35.81 billion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92.

Garmin (NYSE:GRMN - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the prior year, the company earned $1.72 EPS. The firm's quarterly revenue was up 22.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Friday, March 13th. Garmin's dividend payout ratio (DPR) is presently 49.25%.

About Garmin

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.