IFP Advisors Inc cut its holdings in shares of Garmin Ltd. (NYSE:GRMN – Get Rating) by 18.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 760 shares of the scientific and technical instruments company’s stock after selling 169 shares during the period. IFP Advisors Inc’s holdings in Garmin were worth $37,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GRMN. Vanguard Group Inc. lifted its stake in shares of Garmin by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 17,791,804 shares of the scientific and technical instruments company’s stock valued at $1,428,861,000 after acquiring an additional 115,941 shares during the last quarter. BlackRock Inc. increased its holdings in Garmin by 1.6% in the third quarter. BlackRock Inc. now owns 14,457,126 shares of the scientific and technical instruments company’s stock valued at $1,161,051,000 after purchasing an additional 230,945 shares during the period. Artisan Partners Limited Partnership increased its holdings in Garmin by 7.7% in the third quarter. Artisan Partners Limited Partnership now owns 6,922,720 shares of the scientific and technical instruments company’s stock valued at $555,964,000 after purchasing an additional 492,576 shares during the period. State Street Corp increased its holdings in Garmin by 5.5% in the third quarter. State Street Corp now owns 6,798,228 shares of the scientific and technical instruments company’s stock valued at $545,971,000 after purchasing an additional 355,087 shares during the period. Finally, First Trust Advisors LP increased its holdings in Garmin by 213.1% in the third quarter. First Trust Advisors LP now owns 2,501,507 shares of the scientific and technical instruments company’s stock valued at $200,896,000 after purchasing an additional 1,702,480 shares during the period. 63.29% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of analysts have weighed in on the company. Barclays increased their price target on Garmin from $101.00 to $106.00 in a report on Thursday, May 4th. Morgan Stanley boosted their target price on Garmin from $91.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 23rd. JPMorgan Chase & Co. boosted their target price on Garmin from $108.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, February 23rd. KeyCorp initiated coverage on Garmin in a research note on Tuesday, April 18th. They issued a “sector weight” rating on the stock. Finally, StockNews.com initiated coverage on Garmin in a research note on Thursday. They issued a “hold” rating on the stock. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Garmin currently has a consensus rating of “Hold” and a consensus target price of $118.80.
Insider Activity at Garmin
Garmin Price Performance
GRMN stock opened at $104.26 on Friday. Garmin Ltd. has a 1 year low of $76.37 and a 1 year high of $108.32. The company has a market cap of $19.94 billion, a P/E ratio of 20.85, a PEG ratio of 3.55 and a beta of 0.94. The firm has a 50-day moving average of $99.68 and a 200 day moving average of $97.46.
Garmin (NYSE:GRMN – Get Rating) last announced its earnings results on Wednesday, May 3rd. The scientific and technical instruments company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.02. Garmin had a net margin of 19.94% and a return on equity of 15.98%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the firm earned $1.11 earnings per share. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. On average, equities research analysts expect that Garmin Ltd. will post 5.22 earnings per share for the current fiscal year.
Garmin Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Tuesday, June 20th will be given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Friday, June 16th. Garmin’s dividend payout ratio (DPR) is currently 58.40%.
Garmin Company Profile
Garmin Ltd. is a holding company, which engages in the provision of navigation, communications and information devices, most of which are enabled by Global Positioning System (GPS) technology. It operates through the following segments: Marine, Outdoor, Fitness, Auto OEM, Consumer Auto, and Aviation.
- Get a free copy of the StockNews.com research report on Garmin (GRMN)
- It’s Time To Take Another Bite Of Take-Two Interactive
- Zoetis Declares New Dividend, Hinting At Undervaluation
- Good News For Walmart Isn’t So Great For Everybody Else
- Eagle Materials, Answering America’s Building Supply Needs
- Pharma Giants Novartis, Lilly, Merck, and Novo Outperform Market
Want to see what other hedge funds are holding GRMN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Garmin Ltd. (NYSE:GRMN – Get Rating).
Receive News & Ratings for Garmin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Garmin and related companies with MarketBeat.com's FREE daily email newsletter.