Cerity Partners LLC Has $4.74 Million Position in Garmin Ltd. (NYSE:GRMN)

Cerity Partners LLC increased its stake in shares of Garmin Ltd. (NYSE:GRMN) by 5.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 36,854 shares of the scientific and technical instruments company’s stock after buying an additional 2,060 shares during the quarter. Cerity Partners LLC’s holdings in Garmin were worth $4,737,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Pacer Advisors Inc. boosted its holdings in shares of Garmin by 213.5% in the 4th quarter. Pacer Advisors Inc. now owns 41,557 shares of the scientific and technical instruments company’s stock valued at $5,342,000 after purchasing an additional 28,301 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Garmin by 42.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 125,389 shares of the scientific and technical instruments company’s stock valued at $13,191,000 after acquiring an additional 37,532 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Garmin in the 4th quarter valued at $8,691,000. SteelPeak Wealth LLC lifted its stake in shares of Garmin by 369.6% in the 4th quarter. SteelPeak Wealth LLC now owns 14,087 shares of the scientific and technical instruments company’s stock valued at $1,811,000 after acquiring an additional 11,087 shares during the last quarter. Finally, Vontobel Holding Ltd. lifted its stake in shares of Garmin by 62.7% in the 3rd quarter. Vontobel Holding Ltd. now owns 57,449 shares of the scientific and technical instruments company’s stock valued at $6,044,000 after acquiring an additional 22,130 shares during the last quarter. Institutional investors and hedge funds own 73.41% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on GRMN shares. Barrington Research increased their price target on Garmin from $119.00 to $140.00 and gave the company an “equal weight” rating in a research note on Thursday, February 22nd. StockNews.com raised Garmin from a “hold” rating to a “buy” rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. raised their target price on Garmin from $139.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Bank of America raised their target price on Garmin from $120.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Finally, Tigress Financial reaffirmed a “strong-buy” rating and set a $175.00 target price (up from $165.00) on shares of Garmin in a research report on Tuesday, February 27th. Six research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $142.33.

Garmin Trading Up 0.3 %

Shares of Garmin stock opened at $142.10 on Wednesday. The business has a 50-day moving average price of $139.45 and a two-hundred day moving average price of $125.81. Garmin Ltd. has a 1-year low of $94.89 and a 1-year high of $149.54. The company has a market cap of $27.25 billion, a P/E ratio of 21.18, a PEG ratio of 4.69 and a beta of 0.98.

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

Garmin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a $0.75 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.00 annualized dividend and a dividend yield of 2.11%. Garmin’s dividend payout ratio is presently 43.52%.

Insider Activity

In other news, CEO Clifton A. Pemble sold 1,622 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was 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 directly owns 159,319 shares in the company, valued at approximately $21,379,016.61. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Garmin news, VP Susan Lyman sold 2,587 shares of Garmin stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $135.18, for a total transaction of $349,710.66. Following the completion of the transaction, the vice president now owns 7,174 shares in the company, valued at approximately $969,781.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Clifton A. Pemble sold 1,622 shares of Garmin stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $134.19, for a total value of $217,656.18. Following the transaction, the chief executive officer now owns 159,319 shares of the company’s stock, valued at approximately $21,379,016.61. The disclosure for this sale can be found here. Insiders sold a total of 99,476 shares of company stock worth $14,166,944 in the last three months. Company insiders own 19.89% of the company’s stock.

Garmin Profile

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.