Wellington Management Group LLP Has $3.77 Million Position in Garmin Ltd. (NYSE:GRMN)

Wellington Management Group LLP boosted its holdings in Garmin Ltd. (NYSE:GRMN - Free Report) by 10.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,281 shares of the scientific and technical instruments company's stock after purchasing an additional 1,669 shares during the quarter. Wellington Management Group LLP's holdings in Garmin were worth $3,771,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of GRMN. Golden State Wealth Management LLC bought a new position in Garmin during the 4th quarter worth $26,000. Pinnacle Bancorp Inc. acquired a new position in Garmin in the fourth quarter valued at about $29,000. SOA Wealth Advisors LLC. acquired a new stake in Garmin during the fourth quarter worth about $37,000. Kentucky Trust Co acquired a new stake in Garmin during the fourth quarter worth about $41,000. Finally, Venturi Wealth Management LLC raised its position in shares of Garmin by 67.7% in the 4th quarter. Venturi Wealth Management LLC now owns 208 shares of the scientific and technical instruments company's stock valued at $43,000 after buying an additional 84 shares in the last quarter. Institutional investors own 81.60% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on GRMN. Morgan Stanley upgraded shares of Garmin to a "sell" rating and boosted their price objective for the company from $164.00 to $171.00 in a research report on Tuesday, February 11th. JPMorgan Chase & Co. boosted their price target on Garmin from $219.00 to $260.00 and gave the stock a "neutral" rating in a report on Thursday, February 20th. Barclays raised their price objective 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 boosted their target price on Garmin from $265.00 to $285.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, February 26th. Three 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 MarketBeat, the company has an average rating of "Hold" and a consensus target price of $210.80.

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Garmin Price Performance

Shares of NYSE GRMN traded up $0.24 during mid-day trading on Tuesday, hitting $192.34. 579,358 shares of the stock traded hands, compared to its average volume of 884,169. The company has a market cap 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 twelve month low of $138.86 and a twelve month high of $246.50. The firm has a 50 day simple moving average of $211.03 and a two-hundred day simple moving average of $204.49.

Garmin (NYSE:GRMN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 EPS for the quarter, beating analysts' consensus estimates of $1.90 by $0.51. Garmin had a return on equity of 19.31% and a net margin of 22.42%. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period last year, the firm posted $1.72 earnings per share. The business's revenue for the quarter was up 22.9% on a year-over-year basis. On average, equities research analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Friday, March 13th. Garmin's dividend payout ratio (DPR) is currently 49.25%.

Insider Activity

In other news, VP Susan Lyman sold 2,829 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $215.51, for a total value of $609,677.79. Following the completion of the sale, the vice president now owns 8,432 shares of the company's stock, valued at approximately $1,817,180.32. This represents a 25.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Clifton A. Pemble sold 7,202 shares of Garmin stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $227.14, for a total value of $1,635,862.28. Following the completion of the transaction, the chief executive officer now directly owns 149,525 shares in the company, valued at approximately $33,963,108.50. This represents a 4.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,342 shares of company stock valued at $5,486,094. Insiders own 19.54% of the company's stock.

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.