Ossiam Buys 8,474 Shares of Garmin Ltd. (NYSE:GRMN)

Ossiam raised its holdings in Garmin Ltd. (NYSE:GRMN - Free Report) by 190.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,929 shares of the scientific and technical instruments company's stock after purchasing an additional 8,474 shares during the quarter. Ossiam's holdings in Garmin were worth $2,667,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of GRMN. Golden State Wealth Management LLC acquired a new stake in shares of Garmin during the 4th quarter worth about $26,000. Aster Capital Management DIFC Ltd boosted its position in shares of Garmin by 864.3% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company's stock worth $28,000 after buying an additional 121 shares during the period. Pinnacle Bancorp Inc. acquired a new position in shares of Garmin during the fourth quarter worth $29,000. SOA Wealth Advisors LLC. acquired a new position in shares of Garmin in the fourth quarter worth about $37,000. Finally, Kentucky Trust Co bought a new stake in shares of Garmin in the fourth quarter worth $41,000. Hedge funds and other institutional investors own 81.60% of the company's stock.

Insider Buying and Selling at Garmin

In other Garmin news, VP Susan Lyman sold 2,829 shares of Garmin stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $215.51, for a total value of $609,677.79. Following 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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 sale, the chief executive officer now owns 149,525 shares in the company, valued at approximately $33,963,108.50. The trade was a 4.60 % decrease in their position. 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 90 days. Insiders own 19.54% of the company's stock.

Garmin Stock Up 2.8 %

GRMN stock traded up $5.44 during trading hours on Thursday, hitting $199.27. The company's stock had a trading volume of 686,617 shares, compared to its average volume of 873,619. The stock has a 50 day moving average price of $207.81 and a two-hundred day moving average price of $204.95. Garmin Ltd. has a 12 month low of $140.46 and a 12 month high of $246.50. The company has a market capitalization of $38.34 billion, a PE ratio of 27.26, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92.

Garmin (NYSE:GRMN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $1.70 billion. During the same period in the prior year, the company posted $1.72 earnings per share. Garmin's revenue for the quarter was up 22.9% on a year-over-year basis. Sell-side analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be given a dividend of $0.90 per share. The ex-dividend date is Friday, March 13th. This represents a $3.60 dividend on an annualized basis and a yield of 1.81%. Garmin's payout ratio is currently 49.25%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on GRMN shares. JPMorgan Chase & Co. reduced their price target on shares of Garmin from $260.00 to $220.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Barclays boosted their target price on Garmin from $158.00 to $188.00 and gave the stock an "underweight" rating in a report on Thursday, February 20th. Tigress Financial increased their target price on shares of Garmin from $265.00 to $285.00 and gave the company a "strong-buy" rating in a research note on Wednesday, February 26th. Finally, Morgan Stanley upgraded Garmin to a "sell" rating and boosted their price objective for the stock from $164.00 to $171.00 in a report on Tuesday, February 11th. Three investment 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 company. According to MarketBeat.com, Garmin has a consensus rating of "Hold" and an average price target of $202.80.

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.