Garmin Ltd. (NYSE:GRMN) Shares Sold by Schroder Investment Management Group

Schroder Investment Management Group reduced its position in Garmin Ltd. (NYSE:GRMN - Free Report) by 48.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 105,793 shares of the scientific and technical instruments company's stock after selling 100,011 shares during the quarter. Schroder Investment Management Group owned about 0.06% of Garmin worth $21,948,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership lifted its stake in Garmin by 229.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 24,203 shares of the scientific and technical instruments company's stock worth $4,992,000 after purchasing an additional 16,850 shares in the last quarter. Allianz SE purchased a new position in shares of Garmin during the 4th quarter worth $172,000. QSV Equity Investors LLC acquired a new position in shares of Garmin during the 4th quarter valued at about $225,000. Allstate Corp purchased a new stake in shares of Garmin in the fourth quarter valued at about $933,000. Finally, DnB Asset Management AS increased its position in Garmin by 5.3% during the fourth quarter. DnB Asset Management AS now owns 29,272 shares of the scientific and technical instruments company's stock worth $6,038,000 after purchasing an additional 1,478 shares during the last quarter. Hedge funds and other institutional investors own 81.60% of the company's stock.

Insider Buying and Selling

In other Garmin news, VP Susan Lyman sold 2,829 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at approximately $1,817,180.32. This trade represents a 25.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Patrick Desbois sold 6,911 shares of the company's stock in a transaction on 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 transaction, the chief operating officer now owns 63,048 shares of the company's stock, valued at approximately $14,321,353.20. The trade was a 9.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,342 shares of company stock valued at $5,486,094 in the last three months. 19.54% of the stock is owned by corporate insiders.

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Analysts Set New Price Targets

GRMN has been the subject of several analyst reports. Morgan Stanley raised shares of Garmin to a "sell" rating and increased their price target for the company from $164.00 to $171.00 in a research note on Tuesday, February 11th. JPMorgan Chase & Co. increased their price objective on Garmin from $219.00 to $260.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. Barclays lifted their target price on Garmin from $158.00 to $188.00 and gave the company an "underweight" rating in a research report on Thursday, February 20th. Finally, Tigress Financial increased their price target on Garmin from $265.00 to $285.00 and gave the stock a "strong-buy" rating in a report on Wednesday, February 26th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $210.80.

Garmin Stock Performance

Shares of GRMN traded down $7.16 during midday trading on Friday, hitting $178.18. 2,506,525 shares of the stock were exchanged, compared to its average volume of 869,197. The firm has a market cap of $34.28 billion, a P/E ratio of 24.37, a P/E/G ratio of 1.36 and a beta of 0.96. Garmin Ltd. has a 52-week low of $138.86 and a 52-week high of $246.50. The stock has a fifty day simple moving average of $216.05 and a 200 day simple moving average of $203.83.

Garmin (NYSE:GRMN - Get Free Report) last issued its quarterly earnings results 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. The company 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 business's revenue for the quarter was up 22.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.72 earnings per share. As a group, equities research analysts forecast that Garmin Ltd. will post 7.8 EPS 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 issued a $0.90 dividend. The ex-dividend date is Friday, March 13th. This represents a $3.60 dividend on an annualized basis and a yield of 2.02%. Garmin's dividend payout ratio (DPR) is presently 49.25%.

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.