FAS Wealth Partners Inc. Raises Stock Position in Garmin Ltd. (NYSE:GRMN)

FAS Wealth Partners Inc. increased its stake in Garmin Ltd. (NYSE:GRMNFree Report) by 10.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,412 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,685 shares during the quarter. FAS Wealth Partners Inc.’s holdings in Garmin were worth $2,367,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GRMN. Avior Wealth Management LLC grew its holdings in shares of Garmin by 169.5% during the third quarter. Avior Wealth Management LLC now owns 283 shares of the scientific and technical instruments company’s stock worth $30,000 after buying an additional 178 shares in the last quarter. Clear Street Markets LLC grew its holdings in shares of Garmin by 107.1% during the first quarter. Clear Street Markets LLC now owns 321 shares of the scientific and technical instruments company’s stock worth $32,000 after buying an additional 166 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Garmin by 35.2% during the fourth quarter. Blue Trust Inc. now owns 380 shares of the scientific and technical instruments company’s stock worth $49,000 after buying an additional 99 shares in the last quarter. Headinvest LLC purchased a new stake in shares of Garmin during the third quarter worth $41,000. Finally, NBC Securities Inc. purchased a new stake in shares of Garmin during the third quarter worth $57,000. Hedge funds and other institutional investors own 73.41% of the company’s stock.

Garmin Price Performance

NYSE GRMN opened at $145.74 on Wednesday. The firm’s 50-day moving average is $134.84 and its two-hundred day moving average is $122.98. Garmin Ltd. has a 12 month low of $94.89 and a 12 month high of $149.54. The stock has a market capitalization of $27.95 billion, a P/E ratio of 21.72, a PEG ratio of 4.85 and a beta of 0.98.

Garmin (NYSE:GRMNGet Free Report) last posted its earnings results 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 company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the company posted $1.35 earnings per share. Garmin’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, analysts anticipate that Garmin Ltd. will post 5.43 EPS for the current year.

Garmin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.75 per share. The ex-dividend date is Friday, December 13th. This represents a $3.00 dividend on an annualized basis and a yield of 2.06%. Garmin’s dividend payout ratio (DPR) is presently 43.52%.

Insiders Place Their Bets

In other Garmin news, CEO Clifton A. Pemble sold 1,622 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $134.19, for a total transaction of $217,656.18. Following the sale, the chief executive officer now directly owns 159,319 shares in the company, valued at $21,379,016.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Jonathan Burrell sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $146.15, for a total transaction of $2,192,250.00. Following the sale, the director now directly owns 623,834 shares in the company, valued at $91,173,339.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Clifton A. Pemble sold 1,622 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $134.19, for a total transaction of $217,656.18. Following 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 have sold 99,476 shares of company stock worth $14,166,944 over the last three months. Company insiders own 19.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GRMN. JPMorgan Chase & Co. cut shares of Garmin from an “overweight” rating to a “neutral” rating and set a $135.00 price target on the stock. in a research report on Monday, January 8th. StockNews.com cut shares of Garmin from a “buy” rating to a “hold” rating in a research report on Tuesday, March 5th. Tigress Financial reissued a “strong-buy” rating and set a $175.00 price target (up previously from $165.00) on shares of Garmin in a research report on Tuesday, February 27th. Finally, Barrington Research boosted their price target on shares of Garmin from $119.00 to $140.00 and gave the company an “equal weight” rating in a research report on Thursday, February 22nd. Seven investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $131.50.

Get Our Latest Analysis on Garmin

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.

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Institutional Ownership by Quarter for Garmin (NYSE:GRMN)

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