67,612 Shares in Garmin Ltd. (NYSE:GRMN) Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC bought a new position in shares of Garmin Ltd. (NYSE:GRMN) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 67,612 shares of the scientific and technical instruments company’s stock, valued at approximately $8,691,000.

Several other large investors have also added to or reduced their stakes in GRMN. Avior Wealth Management LLC grew its stake in 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 purchasing an additional 178 shares during the period. Clear Street Markets LLC grew its stake in 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 purchasing an additional 166 shares during the period. Headinvest LLC acquired a new stake in Garmin during the third quarter worth approximately $41,000. Blue Trust Inc. grew its stake in 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 purchasing an additional 99 shares during the period. Finally, Industrial Alliance Investment Management Inc. acquired a new stake in Garmin in the fourth quarter valued at approximately $53,000. Institutional investors and hedge funds own 73.41% of the company’s stock.

Insiders Place Their Bets

In other Garmin news, Director Jonathan Burrell sold 15,000 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $146.15, for a total value of $2,192,250.00. Following the completion of the sale, the director now directly owns 623,834 shares of the company’s stock, valued at $91,173,339.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Douglas G. Boessen sold 5,267 shares of Garmin stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $134.56, for a total value of $708,727.52. Following the completion of the transaction, the chief financial officer now directly owns 30,360 shares in the company, valued at $4,085,241.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jonathan Burrell sold 15,000 shares of Garmin stock in a transaction on Friday, March 15th. The shares were sold at an average price of $146.15, for a total value of $2,192,250.00. Following the completion of the transaction, the director now owns 623,834 shares of the company’s stock, valued at $91,173,339.10. The disclosure for this sale can be found here. Insiders sold 99,476 shares of company stock valued at $14,166,944 over the last ninety days. 19.89% of the stock is currently owned by insiders.

Garmin Trading Down 2.0 %

Shares of Garmin stock opened at $143.11 on Friday. The business’s fifty day simple moving average is $138.61 and its 200 day simple moving average is $125.14. The firm has a market capitalization of $27.45 billion, a P/E ratio of 21.33, a price-to-earnings-growth ratio of 4.79 and a beta of 0.98. Garmin Ltd. has a 12 month low of $94.89 and a 12 month high of $149.54.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, February 21st. The scientific and technical instruments company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.32. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.41 billion. Garmin had a return on equity of 16.60% and a net margin of 24.67%. Garmin’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the company posted $1.35 earnings per share. Analysts predict that Garmin Ltd. will post 5.45 EPS for the current fiscal year.

Garmin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Friday, December 13th. Garmin’s dividend payout ratio is currently 43.52%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GRMN shares. JPMorgan Chase & Co. raised their price objective on Garmin from $139.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday. Barrington Research raised their price objective on Garmin from $119.00 to $140.00 and gave the company an “equal weight” rating in a research note on Thursday, February 22nd. Tigress Financial reissued a “strong-buy” rating and issued a $175.00 price objective (up previously from $165.00) on shares of Garmin in a research note on Tuesday, February 27th. Bank of America raised their price objective on Garmin from $120.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Finally, StockNews.com raised Garmin from a “hold” rating to a “buy” rating in a research note on Thursday. Six analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Garmin currently has an average rating of “Hold” and a consensus price target of $142.33.

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.