Landscape Capital Management L.L.C. Cuts Stock Position in Garmin Ltd. (NYSE:GRMN)

Landscape Capital Management L.L.C. decreased its holdings in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 16.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,276 shares of the scientific and technical instruments company's stock after selling 3,500 shares during the quarter. Landscape Capital Management L.L.C.'s holdings in Garmin were worth $3,770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in shares of Garmin during the 4th quarter valued at $26,000. Pinnacle Bancorp Inc. bought a new stake in Garmin during the fourth quarter valued at $29,000. SOA Wealth Advisors LLC. purchased a new position in Garmin during the fourth quarter worth about $37,000. Kentucky Trust Co bought a new position in Garmin in the 4th quarter worth about $41,000. Finally, Venturi Wealth Management LLC raised its holdings in shares of Garmin by 67.7% in the 4th quarter. Venturi Wealth Management LLC now owns 208 shares of the scientific and technical instruments company's stock valued at $43,000 after acquiring an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 81.60% of the company's stock.

Insider Activity at Garmin

In other Garmin news, CEO Clifton A. Pemble sold 7,202 shares of the firm's stock in a transaction on Wednesday, February 26th. The stock was 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 approximately $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 SEC, which can be accessed through this link. Also, VP Susan Lyman sold 2,829 shares of the company's stock in a transaction dated 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 directly 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. Insiders have sold a total of 24,342 shares of company stock worth $5,486,094 over the last quarter. Corporate insiders own 19.54% of the company's stock.

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Garmin Price Performance

Garmin stock traded down $0.51 during trading hours on Wednesday, reaching $173.12. The company had a trading volume of 410,233 shares, compared to its average volume of 874,486. Garmin Ltd. has a 12-month low of $138.86 and a 12-month high of $246.50. The company has a 50-day moving average price of $213.65 and a 200 day moving average price of $203.93. The firm has a market cap of $33.31 billion, a price-to-earnings ratio of 23.66, a P/E/G ratio of 1.36 and a beta of 0.92.

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 earnings per share for the quarter, beating 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 business had revenue of $1.82 billion during the quarter, compared to analysts' expectations of $1.70 billion. During the same quarter in the prior year, the company posted $1.72 EPS. The firm's revenue for the quarter was up 22.9% compared to the same quarter last year. As a group, research analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Friday, March 13th. Garmin's payout ratio is 49.25%.

Analysts Set New Price Targets

GRMN has been the subject of several recent analyst reports. Barclays boosted their price objective on Garmin from $158.00 to $188.00 and gave the stock an "underweight" rating in a report on Thursday, February 20th. Tigress Financial boosted their price target 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. Morgan Stanley upgraded shares of Garmin to a "sell" rating and raised their price objective for the company from $164.00 to $171.00 in a research report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. increased their target price on 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 given a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, Garmin presently has a consensus rating of "Hold" and a consensus price target of $210.80.

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.