Trek Financial LLC Takes $4 Million Position in Garmin Ltd. (NYSE:GRMN)

Trek Financial LLC bought a new stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 19,413 shares of the scientific and technical instruments company's stock, valued at approximately $4,004,000.

Other hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new stake in shares of Garmin during the fourth quarter valued at approximately $26,000. Aster Capital Management DIFC Ltd increased its holdings 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 buying an additional 121 shares during the period. Pinnacle Bancorp Inc. acquired a new position in shares of Garmin in the 4th quarter valued at $29,000. SOA Wealth Advisors LLC. bought a new position in shares of Garmin during the 4th quarter worth about $37,000. Finally, Kentucky Trust Co acquired a new stake in shares of Garmin during the 4th quarter valued at about $41,000. 81.60% of the stock is owned by institutional investors.

Garmin Stock Performance

Garmin stock traded up $2.73 on Friday, reaching $189.56. The company's stock had a trading volume of 243,865 shares, compared to its average volume of 881,832. The business's fifty day moving average price is $212.14 and its 200 day moving average price is $204.05. The company has a market cap of $36.47 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 1.36 and a beta of 0.92. Garmin Ltd. has a twelve month low of $138.86 and a twelve month high of $246.50.

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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 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 business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the prior year, the company earned $1.72 EPS. The firm's quarterly revenue was up 22.9% on a year-over-year basis. As a group, equities analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Friday, March 13th. Garmin's dividend payout ratio (DPR) is presently 49.25%.

Insiders Place Their Bets

In related news, CEO Clifton A. Pemble sold 7,202 shares of the business'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 sale, the chief executive officer now directly owns 149,525 shares of the company's stock, valued at $33,963,108.50. The trade was a 4.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 completion of the transaction, the vice president now directly owns 8,432 shares in the company, valued at approximately $1,817,180.32. The trade was a 25.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,342 shares of company stock valued at $5,486,094. 19.54% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have commented on GRMN shares. JPMorgan Chase & Co. raised their price target on shares of Garmin from $219.00 to $260.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Morgan Stanley upgraded Garmin to a "sell" rating and raised their target price for the stock from $164.00 to $171.00 in a research report on Tuesday, February 11th. Tigress Financial upped their price target on Garmin from $265.00 to $285.00 and gave the company a "strong-buy" rating in a research report on Wednesday, February 26th. Finally, Barclays lifted their price objective on Garmin from $158.00 to $188.00 and gave the company an "underweight" rating in a report on Thursday, February 20th. 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 company has an average rating of "Hold" and a consensus target price 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.