Treasurer of the State of North Carolina Purchases 3,900 Shares of Garmin Ltd. (NYSE:GRMN)

Treasurer of the State of North Carolina increased its position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 5.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,570 shares of the scientific and technical instruments company's stock after acquiring an additional 3,900 shares during the quarter. Treasurer of the State of North Carolina's holdings in Garmin were worth $15,587,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new position in Garmin during the 4th quarter worth about $26,000. Aster Capital Management DIFC Ltd lifted its stake in Garmin by 864.3% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company's stock valued at $28,000 after acquiring an additional 121 shares in the last quarter. Pinnacle Bancorp Inc. acquired a new position in Garmin during the 4th quarter worth approximately $29,000. SOA Wealth Advisors LLC. bought a new position in shares of Garmin during the 4th quarter worth approximately $37,000. Finally, Kentucky Trust Co acquired a new stake in shares of Garmin in the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 81.60% of the company's stock.

Insider Activity at Garmin

In other Garmin news, CEO Clifton A. Pemble sold 7,202 shares of the firm's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $227.14, for a total value of $1,635,862.28. Following the transaction, the chief executive officer now directly owns 149,525 shares of the company's stock, valued at $33,963,108.50. This trade represents a 4.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Susan Lyman sold 2,829 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was 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. This represents a 25.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,342 shares of company stock worth $5,486,094 in the last ninety days. 19.54% of the stock is owned by company insiders.

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Garmin Stock Up 0.1 %

Shares of NYSE GRMN traded up $0.24 during midday trading on Tuesday, hitting $192.34. 579,358 shares of the company's stock were exchanged, compared to its average volume of 884,106. The firm has a market capitalization of $37.01 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92. Garmin Ltd. has a 12 month low of $138.86 and a 12 month high of $246.50. The company's 50 day moving average price is $211.03 and its 200 day moving average price is $204.49.

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 earnings per share for the quarter, beating 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 company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period in the prior year, the firm earned $1.72 earnings per share. The company's revenue was up 22.9% on a year-over-year basis. On average, equities research analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a dividend of $0.90 per share. The ex-dividend date is Friday, March 13th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.87%. Garmin's dividend payout ratio (DPR) is currently 49.25%.

Analyst Ratings Changes

GRMN has been the subject of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of Garmin from $219.00 to $260.00 and gave the stock a "neutral" rating in a 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. Barclays raised 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. Finally, Tigress Financial increased their price objective on Garmin from $265.00 to $285.00 and gave the company a "strong-buy" rating in a report on Wednesday, February 26th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $210.80.

About Garmin

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.