Steward Partners Investment Advisory LLC Has $2.28 Million Position in Garmin Ltd. (NYSE:GRMN)

Steward Partners Investment Advisory LLC grew its holdings in Garmin Ltd. (NYSE:GRMN - Free Report) by 71.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,063 shares of the scientific and technical instruments company's stock after purchasing an additional 4,620 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in Garmin were worth $2,282,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new stake in shares of Garmin in the 4th quarter valued at $26,000. Pinnacle Bancorp Inc. acquired a new stake in shares of Garmin in the 4th quarter valued at $29,000. SOA Wealth Advisors LLC. acquired a new stake in shares of Garmin in the 4th quarter valued at $37,000. Larson Financial Group LLC increased its stake in shares of Garmin by 578.6% in the 3rd quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company's stock valued at $33,000 after buying an additional 162 shares during the period. Finally, Kentucky Trust Co acquired a new stake in shares of Garmin in the 4th quarter valued at $41,000. Institutional investors and hedge funds own 81.60% of the company's stock.

Garmin Stock Down 1.1 %

Garmin stock traded down $2.40 during mid-day trading on Friday, hitting $219.51. 1,082,724 shares of the company's stock were exchanged, compared to its average volume of 866,565. The firm has a market capitalization of $42.23 billion, a P/E ratio of 30.03, a PEG ratio of 1.36 and a beta of 0.96. Garmin Ltd. has a fifty-two week low of $138.86 and a fifty-two week high of $246.50. The company's 50 day simple moving average is $216.28 and its 200-day simple moving average is $199.50.

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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 EPS for the quarter, topping the consensus estimate of $1.90 by $0.51. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.70 billion. Garmin had a return on equity of 19.31% and a net margin of 22.42%. The firm's revenue was up 22.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.72 EPS. Research analysts expect that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Dividend Announcement

The firm 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 dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.64%. The ex-dividend date is Friday, March 13th. Garmin's payout ratio is presently 41.04%.

Insider Buying and Selling

In related news, Director Matthew Munn sold 4,637 shares of the company's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $225.31, for a total value of $1,044,762.47. Following the completion of the transaction, the director now directly owns 11,450 shares of the company's stock, valued at approximately $2,579,799.50. This represents a 28.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Douglas G. Boessen sold 1,761 shares of the company's stock in a transaction on Friday, December 20th. The stock was sold at an average price of $207.99, for a total transaction of $366,270.39. Following the completion of the transaction, the chief financial officer now directly owns 27,612 shares of the company's stock, valued at approximately $5,743,019.88. The trade was a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,274 shares of company stock valued at $5,242,686. 19.54% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GRMN shares. 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 note on Tuesday, February 11th. Tigress Financial increased their price target on 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. increased their price target on Garmin from $219.00 to $260.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Finally, Barclays increased their price target on Garmin from $158.00 to $188.00 and gave the company an "underweight" rating in a research note on Thursday, February 20th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Garmin has a consensus rating of "Hold" and an average target price 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.