Fidelis Capital Partners LLC Purchases Shares of 1,100 Garmin Ltd. (NYSE:GRMN)

Fidelis Capital Partners LLC acquired a new position in Garmin Ltd. (NYSE:GRMNFree Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,100 shares of the scientific and technical instruments company’s stock, valued at approximately $164,000.

Several other institutional investors have also modified their holdings of GRMN. Wetzel Investment Advisors Inc. bought a new position in shares of Garmin in the fourth quarter valued at $26,000. Frazier Financial Advisors LLC purchased a new stake in shares of Garmin during the fourth quarter valued at $33,000. Headinvest LLC acquired a new position in shares of Garmin in the 3rd quarter valued at $41,000. Blue Trust Inc. increased its stake in Garmin by 35.2% in the 4th 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 in the last quarter. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in Garmin during the 4th quarter worth about $51,000. Institutional investors and hedge funds own 73.41% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on GRMN. StockNews.com raised shares of Garmin from a “hold” rating to a “buy” rating in a research report on Tuesday, July 2nd. Barclays increased their target price on Garmin from $140.00 to $166.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. lifted their price target on Garmin from $155.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Tigress Financial increased their price objective on Garmin from $175.00 to $210.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, May 14th. Finally, Bank of America cut Garmin from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $165.00 to $150.00 in a research note on Wednesday, May 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $156.83.

View Our Latest Research Report on GRMN

Garmin Price Performance

GRMN opened at $161.67 on Tuesday. The company has a market capitalization of $31.05 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 3.49 and a beta of 0.98. The business has a 50-day moving average of $163.43 and a 200-day moving average of $144.48. Garmin Ltd. has a fifty-two week low of $99.61 and a fifty-two week high of $171.64.

Garmin (NYSE:GRMNGet Free Report) last posted its earnings results on Wednesday, May 1st. The scientific and technical instruments company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.42. Garmin had a net margin of 24.96% and a return on equity of 17.26%. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the previous year, the company earned $1.02 earnings per share. The company’s revenue was up 20.4% compared to the same quarter last year. On average, equities research analysts expect that Garmin Ltd. will post 5.77 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $0.75 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.86%. Garmin’s dividend payout ratio is currently 42.31%.

Insider Transactions at Garmin

In related news, EVP Patrick Desbois sold 4,126 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $163.52, for a total value of $674,683.52. Following the transaction, the executive vice president now directly owns 58,412 shares of the company’s stock, valued at approximately $9,551,530.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Garmin news, EVP Patrick Desbois sold 4,126 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $163.52, for a total transaction of $674,683.52. Following the completion of the sale, the executive vice president now directly owns 58,412 shares in the company, valued at $9,551,530.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Douglas G. Boessen sold 2,350 shares of Garmin stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $161.63, for a total value of $379,830.50. Following the completion of the transaction, the chief financial officer now owns 28,010 shares in the company, valued at $4,527,256.30. The disclosure for this sale can be found here. 19.54% of the stock is currently owned by corporate insiders.

Garmin Profile

(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.

Read More

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:GRMNFree Report).

Institutional Ownership by Quarter for Garmin (NYSE:GRMN)

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.