LPL Financial LLC increased its stake in Garmin Ltd. (NYSE:GRMN - Free Report) by 22.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 101,635 shares of the scientific and technical instruments company's stock after acquiring an additional 18,708 shares during the period. LPL Financial LLC owned about 0.05% of Garmin worth $20,963,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. raised its stake in shares of 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 raised its position in Garmin by 1.3% during the 4th quarter. Curbstone Financial Management Corp now owns 3,886 shares of the scientific and technical instruments company's stock valued at $802,000 after purchasing an additional 50 shares during the last quarter. Larson Financial Group LLC lifted its holdings in Garmin by 26.8% in the 4th quarter. Larson Financial Group LLC now owns 241 shares of the scientific and technical instruments company's stock worth $50,000 after buying an additional 51 shares during the period. Addison Advisors LLC grew its position in shares of Garmin by 11.1% in the 4th quarter. Addison Advisors LLC now owns 522 shares of the scientific and technical instruments company's stock worth $108,000 after buying an additional 52 shares during the last quarter. Finally, HB Wealth Management LLC increased its stake in shares of Garmin by 1.4% during the fourth quarter. HB Wealth Management LLC now owns 3,821 shares of the scientific and technical instruments company's stock valued at $788,000 after buying an additional 53 shares during the period. 81.60% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several analysts recently weighed in on the stock. Barclays lifted their price target on shares of Garmin from $158.00 to $188.00 and gave the company an "underweight" rating in a report on Thursday, February 20th. JPMorgan Chase & Co. increased their price target on shares of Garmin from $219.00 to $260.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Tigress Financial raised their price objective on shares of Garmin from $265.00 to $285.00 and gave the stock a "strong-buy" rating in a report on Wednesday, February 26th. Finally, Morgan Stanley upgraded Garmin to a "sell" rating and upped their target price for the stock from $164.00 to $171.00 in a report on Tuesday, February 11th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $210.80.
View Our Latest Stock Analysis on Garmin
Garmin Price Performance
NYSE:GRMN traded down $31.38 during mid-day trading on Thursday, hitting $186.69. 1,490,086 shares of the company's stock were exchanged, compared to its average volume of 854,055. Garmin Ltd. has a one year low of $138.86 and a one year high of $246.50. The business has a fifty day moving average price of $217.38 and a 200 day moving average price of $203.69. The company has a market cap of $35.92 billion, a PE ratio of 25.54, a P/E/G ratio of 1.36 and a beta of 0.96.
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. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.70 billion. Garmin had a return on equity of 19.31% and a net margin of 22.42%. The firm's quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.72 EPS. On average, equities analysts forecast that Garmin Ltd. will post 7.8 EPS for the current fiscal year.
Garmin Dividend Announcement
The company 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 dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.93%. The ex-dividend date is Friday, March 13th. Garmin's dividend payout ratio (DPR) is 49.25%.
Insider Buying and Selling at Garmin
In other Garmin news, VP Susan Lyman sold 2,829 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $215.51, for a total transaction of $609,677.79. Following the transaction, the vice president now owns 8,432 shares in the company, valued at approximately $1,817,180.32. This represents a 25.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Clifton A. Pemble sold 7,202 shares of Garmin stock in a transaction that occurred 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 sale, the chief executive officer now owns 149,525 shares of the company's stock, valued at $33,963,108.50. This represents a 4.60 % 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 worth $5,486,094. 19.54% of the stock is owned by corporate insiders.
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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