Russell Investments Group Ltd. Sells 237 Shares of Garmin Ltd. (NYSE:GRMN)

Russell Investments Group Ltd. lessened its position in Garmin Ltd. (NYSE:GRMN) by 0.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 170,520 shares of the scientific and technical instruments company’s stock after selling 237 shares during the period. Russell Investments Group Ltd.’s holdings in Garmin were worth $21,920,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. grew its holdings in Garmin by 213.5% in the 4th quarter. Pacer Advisors Inc. now owns 41,557 shares of the scientific and technical instruments company’s stock worth $5,342,000 after acquiring an additional 28,301 shares during the last quarter. Peterson Wealth Services purchased a new stake in shares of Garmin in the 4th quarter worth about $2,365,000. Envestnet Asset Management Inc. lifted its position in shares of Garmin by 42.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 125,389 shares of the scientific and technical instruments company’s stock worth $13,191,000 after purchasing an additional 37,532 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Garmin during the 4th quarter valued at about $8,691,000. Finally, SteelPeak Wealth LLC boosted its stake in shares of Garmin by 369.6% during the 4th quarter. SteelPeak Wealth LLC now owns 14,087 shares of the scientific and technical instruments company’s stock valued at $1,811,000 after purchasing an additional 11,087 shares in the last quarter. Institutional investors own 73.41% of the company’s stock.

Garmin Price Performance

NYSE:GRMN opened at $163.44 on Thursday. Garmin Ltd. has a one year low of $95.79 and a one year high of $164.73. The company’s 50-day simple moving average is $144.00 and its 200 day simple moving average is $128.62. The firm has a market capitalization of $31.39 billion, a P/E ratio of 24.36, a PEG ratio of 4.76 and a beta of 0.98.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, February 21st. The scientific and technical instruments company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.40 by $0.32. Garmin had a net margin of 24.67% and a return on equity of 16.60%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the previous year, the firm posted $1.35 earnings per share. Garmin’s quarterly revenue was up 13.3% on a year-over-year basis. On average, equities research analysts expect that Garmin Ltd. will post 5.45 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a $0.75 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.00 annualized dividend and a dividend yield of 1.84%. Garmin’s dividend payout ratio is presently 43.52%.

Insider Transactions at Garmin

In other news, CEO Clifton A. Pemble sold 1,622 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 159,319 shares in the company, valued at $21,379,016.61. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Clifton A. Pemble sold 1,622 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 159,319 shares in the company, valued at $21,379,016.61. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Douglas G. Boessen sold 5,267 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $134.56, for a total transaction of $708,727.52. Following the completion of the transaction, the chief financial officer now owns 30,360 shares in the company, valued at approximately $4,085,241.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 99,476 shares of company stock worth $14,166,944. Corporate insiders own 19.89% of the company’s stock.

Wall Street Analyst Weigh In

GRMN has been the topic of a number of research reports. Barrington Research lifted 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. Bank of America lifted 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, April 23rd. JPMorgan Chase & Co. lifted their target price on shares of Garmin from $139.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Finally, Tigress Financial reaffirmed a “strong-buy” rating and set a $175.00 target price (up previously from $165.00) on shares of Garmin in a research note on Tuesday, February 27th. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Garmin currently has a consensus rating of “Hold” and a consensus price target of $142.33.

Garmin Profile

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.