New Age Alpha Advisors LLC Invests $2.48 Million in Garmin Ltd. (NYSE:GRMN)

New Age Alpha Advisors LLC acquired a new position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 11,998 shares of the scientific and technical instruments company's stock, valued at approximately $2,475,000.

Several other institutional investors have also recently made changes to their positions in GRMN. Geneos Wealth Management Inc. increased its stake in shares of Garmin by 1.7% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,863 shares of the scientific and technical instruments company's stock worth $591,000 after purchasing an additional 49 shares in the last quarter. Curbstone Financial Management Corp boosted 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 buying an additional 50 shares during the period. Larson Financial Group LLC grew its stake 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 valued at $50,000 after buying an additional 51 shares in the last quarter. Addison Advisors LLC raised its holdings in Garmin by 11.1% during the 4th quarter. Addison Advisors LLC now owns 522 shares of the scientific and technical instruments company's stock valued at $108,000 after acquiring an additional 52 shares during the period. Finally, HB Wealth Management LLC lifted its position 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 worth $788,000 after acquiring an additional 53 shares in the last quarter. Institutional investors own 81.60% of the company's stock.

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Garmin Stock Down 16.6 %

Shares of GRMN stock traded down $36.10 during trading on Thursday, hitting $181.97. The company had a trading volume of 898,933 shares, compared to its average volume of 852,066. Garmin Ltd. has a 52 week low of $138.86 and a 52 week high of $246.50. The stock has a market capitalization of $35.01 billion, a price-to-earnings ratio of 24.89, a price-to-earnings-growth ratio of 1.36 and a beta of 0.96. The stock's 50-day moving average is $217.38 and its two-hundred day moving average is $203.69.

Garmin (NYSE:GRMN - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $1.70 billion. During the same quarter last year, the company posted $1.72 EPS. The business's quarterly revenue was up 22.9% on a year-over-year basis. On average, research analysts predict that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.98%. The ex-dividend date is Friday, March 13th. Garmin's dividend payout ratio (DPR) is currently 49.25%.

Insider Activity

In other Garmin news, COO Patrick Desbois sold 6,911 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $227.15, for a total transaction of $1,569,833.65. Following the completion of the sale, the chief operating officer now directly owns 63,048 shares in the company, valued at $14,321,353.20. This represents a 9.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Clifton A. Pemble sold 7,202 shares of the firm's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $227.14, for a total value of $1,635,862.28. Following the transaction, the chief executive officer now directly owns 149,525 shares in the company, valued at $33,963,108.50. This trade represents a 4.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,342 shares of company stock worth $5,486,094. 19.54% of the stock is currently owned by insiders.

Analysts Set New Price Targets

GRMN has been the topic of a number of analyst reports. Tigress Financial boosted their price objective on Garmin from $265.00 to $285.00 and gave the company a "strong-buy" rating in a research note on Wednesday, February 26th. Morgan Stanley upgraded 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. Barclays increased their price target on shares of Garmin from $158.00 to $188.00 and gave the stock an "underweight" rating in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. upped their target price on shares of Garmin from $219.00 to $260.00 and gave the stock a "neutral" rating in a report on Thursday, February 20th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Garmin currently has a consensus rating of "Hold" and an average price target of $210.80.

Garmin Company 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.