Garmin Ltd. (NYSE:GRMN) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. lowered its holdings in Garmin Ltd. (NYSE:GRMN - Free Report) by 8.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,178 shares of the scientific and technical instruments company's stock after selling 2,900 shares during the quarter. Prudential Financial Inc.'s holdings in Garmin were worth $6,225,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GRMN. Golden State Wealth Management LLC acquired a new position in Garmin in the fourth quarter valued at about $26,000. Pinnacle Bancorp Inc. acquired a new position in shares of Garmin in the 4th quarter worth approximately $29,000. Larson Financial Group LLC boosted its position in shares of Garmin by 578.6% during the 3rd quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company's stock worth $33,000 after purchasing an additional 162 shares during the period. SOA Wealth Advisors LLC. purchased a new position in shares of Garmin during the 4th quarter worth approximately $37,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in Garmin in the 3rd quarter valued at approximately $39,000. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Clifton A. Pemble sold 7,202 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $227.14, for a total value of $1,635,862.28. Following the completion of the sale, the chief executive officer now directly owns 149,525 shares of the company's stock, valued at approximately $33,963,108.50. The trade was a 4.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Susan Lyman sold 2,829 shares of the firm's 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 owns 8,432 shares in the company, valued at $1,817,180.32. This represents a 25.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,342 shares of company stock valued at $5,486,094. 19.54% of the stock is owned by corporate insiders.

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Garmin Price Performance

Shares of GRMN stock traded down $30.98 during trading hours on Thursday, reaching $187.09. 1,568,792 shares of the stock were exchanged, compared to its average volume of 854,397. Garmin Ltd. has a 12-month low of $138.86 and a 12-month high of $246.50. The business's fifty day moving average is $217.38 and its two-hundred day moving average is $203.69. The firm has a market capitalization of $36.00 billion, a P/E ratio of 25.59, a P/E/G ratio of 1.36 and a beta of 0.96.

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 (EPS) for the quarter, topping 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 period in the previous year, the company earned $1.72 EPS. The company's revenue for the quarter was up 22.9% on a year-over-year basis. As a group, equities research 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 paid a $0.90 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.60 annualized dividend and a yield of 1.92%. Garmin's dividend payout ratio is currently 49.25%.

Wall Street Analyst Weigh In

Several research firms have recently commented on GRMN. Barclays raised their price target on Garmin from $158.00 to $188.00 and gave the stock an "underweight" rating in a research report on Thursday, February 20th. Morgan Stanley raised Garmin to a "sell" rating and lifted their target price for the company from $164.00 to $171.00 in a research report on Tuesday, February 11th. 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 report on Thursday, February 20th. Finally, Tigress Financial upped their target price 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. 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 company. Based on data from MarketBeat.com, Garmin currently has an average rating of "Hold" and a consensus target price 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.