Bellecapital International Ltd. Boosts Stock Position in Garmin Ltd. (NYSE:GRMN)

Bellecapital International Ltd. grew its stake in shares of Garmin Ltd. (NYSE:GRMNFree Report) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,756 shares of the scientific and technical instruments company’s stock after acquiring an additional 495 shares during the period. Bellecapital International Ltd.’s holdings in Garmin were worth $2,797,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Avior Wealth Management LLC lifted its position in shares of Garmin by 169.5% during the third quarter. Avior Wealth Management LLC now owns 283 shares of the scientific and technical instruments company’s stock worth $30,000 after acquiring an additional 178 shares in the last quarter. Clear Street Markets LLC lifted its position in shares of Garmin by 107.1% during the first quarter. Clear Street Markets LLC now owns 321 shares of the scientific and technical instruments company’s stock worth $32,000 after acquiring an additional 166 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Garmin by 35.2% during the fourth quarter. Blue Trust Inc. now owns 380 shares of the scientific and technical instruments company’s stock worth $49,000 after acquiring an additional 99 shares in the last quarter. Headinvest LLC purchased a new stake in shares of Garmin during the third quarter worth $41,000. Finally, NBC Securities Inc. purchased a new stake in shares of Garmin during the third quarter worth $57,000. Hedge funds and other institutional investors own 73.41% of the company’s stock.

Garmin Price Performance

Shares of GRMN opened at $148.87 on Monday. Garmin Ltd. has a one year low of $94.89 and a one year high of $149.54. The company has a 50-day simple moving average of $134.05 and a two-hundred day simple moving average of $122.31. The firm has a market capitalization of $28.55 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 4.90 and a beta of 0.98.

Garmin (NYSE:GRMNGet Free Report) last issued its quarterly earnings data on Wednesday, February 21st. The scientific and technical instruments company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.40 by $0.32. Garmin had a net margin of 24.67% and a return on equity of 16.60%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period last year, the business posted $1.35 earnings per share. Garmin’s quarterly revenue was up 13.3% compared to the same quarter last year. Analysts expect that Garmin Ltd. will post 5.43 EPS for the current fiscal year.

Garmin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.75 per share. The ex-dividend date is Friday, December 13th. This represents a $3.00 annualized dividend and a dividend yield of 2.02%. Garmin’s payout ratio is 43.52%.

Insider Activity

In other news, Director Jonathan Burrell sold 15,000 shares of Garmin stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $148.89, for a total transaction of $2,233,350.00. Following the completion of the transaction, the director now directly owns 653,834 shares in the company, valued at $97,349,344.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Garmin news, CEO Clifton A. Pemble sold 1,622 shares of Garmin stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $134.19, for a total value of $217,656.18. Following the completion of the sale, the chief executive officer now owns 159,319 shares of the company’s stock, valued at approximately $21,379,016.61. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jonathan Burrell sold 15,000 shares of Garmin stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $148.89, for a total transaction of $2,233,350.00. Following the completion of the sale, the director now directly owns 653,834 shares of the company’s stock, valued at approximately $97,349,344.26. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 99,476 shares of company stock worth $14,166,944. Insiders own 19.89% of the company’s stock.

Wall Street Analyst Weigh In

GRMN has been the topic of several research analyst reports. StockNews.com cut shares of Garmin from a “buy” rating to a “hold” rating in a report on Tuesday, March 5th. Tigress Financial reaffirmed a “strong-buy” rating and issued a $175.00 price target (up previously from $165.00) on shares of Garmin in a report on Tuesday, February 27th. JPMorgan Chase & Co. cut shares of Garmin from an “overweight” rating to a “neutral” rating and set a $135.00 price target on the stock. in a report on Monday, January 8th. Finally, Barrington Research increased their target price on Garmin from $119.00 to $140.00 and gave the company an “equal weight” rating in a research note on Thursday, February 22nd. Seven research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $131.50.

Read Our Latest Report on Garmin

About Garmin

(Free Report)

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.

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Institutional Ownership by Quarter for Garmin (NYSE:GRMN)

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