Garmin Ltd. (NYSE:GRMN) Shares Sold by S.A. Mason LLC

S.A. Mason LLC trimmed its position in shares of Garmin Ltd. (NYSE:GRMN) by 12.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,200 shares of the scientific and technical instruments company’s stock after selling 300 shares during the quarter. S.A. Mason LLC’s holdings in Garmin were worth $283,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of GRMN. Avior Wealth Management LLC grew its stake in shares of Garmin by 169.5% in the third quarter. Avior Wealth Management LLC now owns 283 shares of the scientific and technical instruments company’s stock worth $30,000 after acquiring an additional 178 shares in 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 valued at $32,000 after purchasing an additional 166 shares during the period. Headinvest LLC purchased a new position in Garmin in the third quarter valued at $41,000. Industrial Alliance Investment Management Inc. acquired a new position in Garmin during the 4th quarter worth $53,000. Finally, Resurgent Financial Advisors LLC purchased a new stake in Garmin during the 4th quarter worth about $54,000. 73.41% of the stock is owned by institutional investors and hedge funds.

Garmin Trading Up 0.4 %

Shares of NYSE:GRMN opened at $147.98 on Thursday. The firm has a 50 day simple moving average of $133.09 and a 200-day simple moving average of $121.70. The company has a market capitalization of $28.38 billion, a PE ratio of 22.05, a P/E/G ratio of 4.85 and a beta of 0.97. Garmin Ltd. has a twelve month low of $94.89 and a twelve month high of $149.42.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, February 21st. The scientific and technical instruments company reported $1.72 earnings per share 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 firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the previous year, the company earned $1.35 earnings per share. Garmin’s quarterly revenue was up 13.3% compared to the same quarter last year. As a group, equities research analysts predict that Garmin Ltd. will post 5.43 EPS for the current fiscal year.

Garmin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Friday, December 13th. Garmin’s dividend payout ratio (DPR) is 43.52%.

Wall Street Analyst Weigh In

GRMN has been the subject of several recent research reports. Barrington Research lifted 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. downgraded shares of Garmin from an “overweight” rating to a “neutral” rating and set a $135.00 price target for the company. in a research note on Monday, January 8th. Tigress Financial reissued a “strong-buy” rating and issued a $175.00 price objective (up from $165.00) on shares of Garmin in a research report on Tuesday, February 27th. Finally, StockNews.com lowered shares of Garmin from a “buy” rating to a “hold” rating in a report on Tuesday, March 5th. Seven equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $131.50.

Insider Buying and Selling at Garmin

In related news, 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 approximately $21,379,016.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Clifton A. Pemble sold 1,622 shares of the business’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 transaction, the chief executive officer now owns 159,319 shares in the company, valued at approximately $21,379,016.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Susan Lyman sold 2,587 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $135.18, for a total value of $349,710.66. Following the sale, the vice president now directly owns 7,174 shares of the company’s stock, valued at $969,781.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 99,476 shares of company stock worth $14,166,944. 19.89% of the stock is owned by insiders.

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.