Sterling Capital Management LLC Has $1.93 Million Stock Holdings in Garmin Ltd. (NYSE:GRMN)

Sterling Capital Management LLC raised its holdings in Garmin Ltd. (NYSE:GRMN - Free Report) by 55.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,347 shares of the scientific and technical instruments company's stock after buying an additional 3,323 shares during the quarter. Sterling Capital Management LLC's holdings in Garmin were worth $1,928,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in GRMN. Y Intercept Hong Kong Ltd acquired a new stake in shares of Garmin during the 3rd quarter worth approximately $482,000. Passumpsic Savings Bank acquired a new stake in Garmin in the 3rd quarter valued at about $3,137,000. Virtu Financial LLC acquired a new position in shares of Garmin during the third quarter worth approximately $501,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Garmin during the third quarter valued at approximately $185,000. Finally, Franklin Resources Inc. raised its position in Garmin by 35.8% in the 3rd quarter. Franklin Resources Inc. now owns 135,477 shares of the scientific and technical instruments company's stock worth $22,755,000 after purchasing an additional 35,703 shares during the last quarter. 81.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GRMN shares. Barclays lifted their target price on Garmin from $158.00 to $188.00 and gave the company an "underweight" rating in a research note on Thursday, February 20th. Tigress Financial raised 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. JPMorgan Chase & Co. cut their price objective on shares of Garmin from $260.00 to $220.00 and set a "neutral" rating on the stock in a report on Thursday. Finally, Morgan Stanley raised shares of Garmin to a "sell" rating and lifted their target price for the stock from $164.00 to $171.00 in a report on Tuesday, February 11th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Garmin presently has a consensus rating of "Hold" and a consensus target price of $202.80.

Garmin Stock Performance

NYSE:GRMN traded up $1.57 during trading hours on Friday, hitting $190.53. The stock had a trading volume of 804,193 shares, compared to its average volume of 883,956. The business's 50 day moving average is $209.42 and its 200-day moving average is $204.41. The company has a market cap of $36.66 billion, a price-to-earnings ratio of 26.06, a P/E/G ratio of 1.36 and a beta of 0.92. Garmin Ltd. has a one year low of $138.86 and a one year high of $246.50.

Garmin (NYSE:GRMN - Get Free Report) last posted its earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share for the quarter, topping 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 return on equity of 19.31% and a net margin of 22.42%. The company's revenue for the quarter was up 22.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.72 earnings per share. On average, sell-side analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors 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 dividend on an annualized basis and a yield of 1.89%. Garmin's dividend payout ratio (DPR) is 49.25%.

Insider Buying and Selling at Garmin

In related news, VP Susan Lyman sold 2,829 shares of the company'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 completion of the transaction, the vice president now directly owns 8,432 shares in the company, valued at $1,817,180.32. This represents a 25.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Clifton A. Pemble sold 7,202 shares of the firm's stock in a transaction that occurred 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 trade 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 worth $5,486,094 over the last three months. Corporate insiders own 19.54% of the company's stock.

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.