O Shaughnessy Asset Management LLC Has $2.12 Million Position in Garmin Ltd. (NYSE:GRMN)

O Shaughnessy Asset Management LLC boosted its stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 30.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,286 shares of the scientific and technical instruments company's stock after buying an additional 2,413 shares during the period. O Shaughnessy Asset Management LLC's holdings in Garmin were worth $2,122,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Golden State Wealth Management LLC acquired a new stake in shares of Garmin during the 4th quarter valued at about $26,000. Pinnacle Bancorp Inc. acquired a new position in shares of Garmin in the fourth quarter worth $29,000. SOA Wealth Advisors LLC. acquired a new position in shares of Garmin during the fourth quarter worth $37,000. Kentucky Trust Co acquired a new position in shares of Garmin during the fourth quarter worth $41,000. Finally, Venturi Wealth Management LLC lifted its position in Garmin by 67.7% in the fourth 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 during the last quarter. Hedge funds and other institutional investors own 81.60% of the company's stock.

Insider Activity

In other Garmin news, VP Susan Lyman sold 2,829 shares of Garmin stock in a transaction on Monday, March 10th. The shares were sold at an average price of $215.51, for a total transaction of $609,677.79. Following the completion of the transaction, the vice president now directly owns 8,432 shares of the company's stock, valued at $1,817,180.32. The trade was a 25.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Clifton A. Pemble sold 7,202 shares of Garmin 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 transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 24,342 shares of company stock worth $5,486,094. 19.54% of the stock is currently owned by corporate insiders.

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Garmin Stock Performance

Shares of NYSE:GRMN traded down $6.39 during trading on Thursday, reaching $186.32. The company had a trading volume of 136,183 shares, compared to its average volume of 879,752. Garmin Ltd. has a twelve month low of $138.86 and a twelve month high of $246.50. The firm has a market capitalization of $35.85 billion, a PE ratio of 25.49, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92. The firm's fifty day moving average is $212.72 and its 200 day moving average is $203.97.

Garmin (NYSE:GRMN - Get Free Report) last released 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. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.70 billion. Garmin had a net margin of 22.42% and a return on equity of 19.31%. The company's revenue for the quarter was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.72 EPS. Equities analysts predict that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis 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%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on GRMN shares. Morgan Stanley raised shares of Garmin to a "sell" rating and upped their target price for the company from $164.00 to $171.00 in a report on Tuesday, February 11th. 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 research report on Thursday, February 20th. Tigress Financial increased their price target on shares of Garmin from $265.00 to $285.00 and gave the company a "strong-buy" rating in a research report on Wednesday, February 26th. Finally, Barclays upped their price objective on shares of Garmin from $158.00 to $188.00 and gave the company an "underweight" rating in a research note on Thursday, February 20th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Garmin has an average rating of "Hold" and a consensus price target of $210.80.

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.