126,742 Shares in Garmin Ltd. (NYSE:GRMN) Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC acquired a new stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 126,742 shares of the scientific and technical instruments company's stock, valued at approximately $26,142,000. Renaissance Technologies LLC owned approximately 0.07% of Garmin as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of GRMN. Golden State Wealth Management LLC acquired a new stake in shares of Garmin in the 4th quarter worth approximately $26,000. Aster Capital Management DIFC Ltd boosted its stake in Garmin by 864.3% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company's stock valued at $28,000 after buying an additional 121 shares in the last quarter. Pinnacle Bancorp Inc. bought a new stake in shares of Garmin in the 4th quarter worth approximately $29,000. SOA Wealth Advisors LLC. acquired a new stake in Garmin during the fourth quarter valued at approximately $37,000. Finally, Kentucky Trust Co bought a new stake in Garmin during the fourth quarter worth approximately $41,000. Institutional investors and hedge funds 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 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 sale, the vice president now owns 8,432 shares in the company, 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 filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Clifton A. Pemble sold 7,202 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $227.14, for a total transaction of $1,635,862.28. Following the completion of the transaction, the chief executive officer now owns 149,525 shares of the company's stock, valued at approximately $33,963,108.50. This represents a 4.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,342 shares of company stock valued at $5,486,094 in the last ninety days. Company insiders own 19.54% of the company's stock.

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Garmin Stock Performance

Shares of GRMN traded up $0.24 during trading hours on Tuesday, hitting $192.34. 579,358 shares of the company were exchanged, compared to its average volume of 884,106. The firm's 50 day moving average is $210.49 and its 200-day moving average is $204.41. Garmin Ltd. has a 52 week low of $138.86 and a 52 week high of $246.50. The company has a market cap of $37.01 billion, a PE ratio of 26.31, a PEG ratio of 1.36 and a beta of 0.92.

Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share (EPS) for the quarter, beating 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 company 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 earned $1.72 earnings per share. The business's quarterly revenue was up 22.9% compared to the same quarter last year. As a group, equities analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors 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 1.87%. The ex-dividend date of this dividend is Friday, March 13th. Garmin's payout ratio is currently 49.25%.

Analysts Set New Price Targets

A number of research firms recently weighed in on GRMN. JPMorgan Chase & Co. increased their price target on Garmin from $219.00 to $260.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. Tigress Financial boosted 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. Barclays increased their target price on shares of Garmin from $158.00 to $188.00 and gave the stock an "underweight" rating in a research report on Thursday, February 20th. Finally, Morgan Stanley upgraded shares of Garmin to a "sell" rating and boosted their price target for the company 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 issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock 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.