Garmin Ltd. (NYSE:GRMN) Shares Bought by Lindbrook Capital LLC

Lindbrook Capital LLC grew its stake in shares of Garmin Ltd. (NYSE:GRMN) by 32.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 466 shares of the scientific and technical instruments company’s stock after acquiring an additional 113 shares during the period. Lindbrook Capital LLC’s holdings in Garmin were worth $60,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. acquired a new position in shares of Garmin in the 4th quarter valued at about $26,000. Avior Wealth Management LLC boosted its holdings in shares of Garmin by 169.5% in the 3rd quarter. Avior Wealth Management LLC now owns 283 shares of the scientific and technical instruments company’s stock valued at $30,000 after buying an additional 178 shares during the period. Headinvest LLC acquired a new position in shares of Garmin in the 3rd quarter valued at about $41,000. Blue Trust Inc. boosted its holdings in shares of Garmin by 35.2% in the 4th 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 during the period. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in shares of Garmin in the 4th quarter valued at about $51,000. 73.41% of the stock is owned by institutional investors and hedge funds.

Garmin Trading Up 0.2 %

GRMN stock opened at $143.03 on Friday. Garmin Ltd. has a 52 week low of $94.89 and a 52 week high of $149.54. The company has a market capitalization of $27.43 billion, a price-to-earnings ratio of 21.32, a price-to-earnings-growth ratio of 4.68 and a beta of 0.98. The firm’s 50-day moving average is $142.08 and its two-hundred day moving average is $127.32.

Garmin (NYSE:GRMN) last released its quarterly earnings results on Wednesday, February 21st. The scientific and technical instruments company reported $1.72 EPS for the quarter, topping 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 the consensus estimate of $1.41 billion. During the same period in the previous year, the firm earned $1.35 EPS. Garmin’s revenue was up 13.3% on a year-over-year basis. On average, equities research analysts predict that Garmin Ltd. will post 5.45 earnings per share for the current year.

Garmin Dividend Announcement

The business 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. The ex-dividend date is Friday, December 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.10%. Garmin’s dividend payout ratio (DPR) is 43.52%.

Insiders Place Their Bets

In other Garmin news, VP Susan Lyman sold 2,587 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $135.18, for a total transaction of $349,710.66. Following the sale, the vice president now directly owns 7,174 shares in the company, valued at approximately $969,781.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Susan Lyman sold 2,587 shares of the business’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 in the company, valued at approximately $969,781.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan Burrell sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $146.15, for a total transaction of $2,192,250.00. Following the completion of the sale, the director now owns 623,834 shares in the company, valued at $91,173,339.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 99,476 shares of company stock worth $14,166,944. 19.89% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. 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 report on Thursday, April 11th. Bank of America boosted their target price on shares of Garmin from $120.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. StockNews.com raised shares of Garmin from a “hold” rating to a “buy” rating in a research note on Tuesday. Tigress Financial reissued a “strong-buy” rating and set a $175.00 target price (up from $165.00) on shares of Garmin in a research note on Tuesday, February 27th. Finally, Barrington Research boosted their target price on shares of Garmin from $119.00 to $140.00 and gave the company an “equal weight” rating in a research note on Thursday, February 22nd. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Garmin currently has a consensus rating of “Hold” and an average target price of $142.33.

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.