Madison Investment Advisors LLC acquired a new stake in Garmin Ltd. (NYSE:GRMN – Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,384 shares of the scientific and technical instruments company’s stock, valued at approximately $904,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of GRMN. Golden State Wealth Management LLC purchased a new position in shares of Garmin in the 4th quarter valued at approximately $26,000. Pinnacle Bancorp Inc. purchased a new position in Garmin during the 4th quarter worth approximately $29,000. Larson Financial Group LLC raised its position in Garmin by 578.6% during the 3rd quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock worth $33,000 after buying an additional 162 shares during the last quarter. SOA Wealth Advisors LLC. purchased a new position in Garmin during the 4th quarter worth approximately $37,000. Finally, Itau Unibanco Holding S.A. purchased a new position in Garmin during the 3rd quarter worth approximately $39,000. 81.60% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Garmin news, VP Susan Lyman sold 2,829 shares of Garmin stock in a transaction on Monday, March 10th. The shares were sold at an average price of $215.51, for a total transaction of $609,677.79. Following the sale, the vice president now owns 8,432 shares of the company’s stock, valued at $1,817,180.32. The trade was a 25.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Clifton A. Pemble sold 7,202 shares of Garmin stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $227.14, for a total transaction of $1,635,862.28. Following the sale, the chief executive officer now directly owns 149,525 shares in the company, valued at approximately $33,963,108.50. This trade represents a 4.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,342 shares of company stock valued at $5,486,094. 19.54% of the stock is owned by corporate insiders.
Garmin Price Performance
NYSE:GRMN opened at $209.78 on Friday. The firm has a market cap of $40.36 billion, a price-to-earnings ratio of 28.70, a price-to-earnings-growth ratio of 1.36 and a beta of 0.96. The company has a 50 day moving average price of $216.96 and a 200-day moving average price of $201.66. Garmin Ltd. has a 1-year low of $138.86 and a 1-year high of $246.50.
Garmin (NYSE:GRMN – Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 EPS for the quarter, topping the consensus estimate of $1.90 by $0.51. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.70 billion. Garmin had a net margin of 22.42% and a return on equity of 19.31%. The firm’s revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.72 EPS. On average, sell-side analysts anticipate that Garmin Ltd. will post 7.8 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 27th. Investors of record on Friday, March 13th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.72%. The ex-dividend date is Friday, March 13th. Garmin’s payout ratio is presently 41.04%.
Analyst Ratings Changes
A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Garmin from $219.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Morgan Stanley raised shares of Garmin to a “sell” rating and raised their price target for the stock from $164.00 to $171.00 in a research report on Tuesday, February 11th. Tigress Financial raised their price target on shares of Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, February 26th. Finally, Barclays lifted their target price on shares of Garmin from $158.00 to $188.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $210.80.
Check Out Our Latest Stock Report on GRMN
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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