Garmin Ltd. (NYSE:GRMN) Holdings Raised by Simplicity Solutions LLC

Simplicity Solutions LLC grew its stake in shares of Garmin Ltd. (NYSE:GRMN) by 104.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,477 shares of the scientific and technical instruments company’s stock after acquiring an additional 2,289 shares during the period. Simplicity Solutions LLC’s holdings in Garmin were worth $575,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Avior Wealth Management LLC increased its stake in shares of Garmin by 169.5% during the 3rd 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 last quarter. Clear Street Markets LLC boosted its holdings in Garmin by 107.1% in 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 in the last quarter. Headinvest LLC acquired a new position in Garmin during the third quarter worth $41,000. Blue Trust Inc. raised its holdings 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 valued at $49,000 after buying an additional 99 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Garmin in the fourth quarter worth about $51,000. 73.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Garmin news, CEO Clifton A. Pemble sold 1,622 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 159,319 shares of the company’s stock, valued at approximately $21,379,016.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Douglas G. Boessen sold 5,267 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $134.56, for a total transaction of $708,727.52. Following the completion of the transaction, the chief financial officer now owns 30,360 shares in the company, valued at approximately $4,085,241.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Clifton A. Pemble sold 1,622 shares of the company’s stock in a transaction 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 in the company, valued at $21,379,016.61. The disclosure for this sale can be found here. Insiders sold a total of 99,476 shares of company stock valued at $14,166,944 over the last ninety days. 19.89% of the stock is owned by company insiders.

Garmin Price Performance

NYSE:GRMN opened at $141.02 on Thursday. Garmin Ltd. has a one year low of $94.89 and a one year high of $149.54. The company has a fifty day moving average price of $139.83 and a 200 day moving average price of $125.92. The stock has a market cap of $27.04 billion, a P/E ratio of 21.02, a PEG ratio of 4.65 and a beta of 0.98.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, February 21st. The scientific and technical instruments company reported $1.72 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the business earned $1.35 earnings per share. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, equities research analysts anticipate that Garmin Ltd. will post 5.45 EPS for the current year.

Garmin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.13%. Garmin’s payout ratio is 43.52%.

Wall Street Analyst Weigh In

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

Garmin Company 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.