67,612 Shares in Garmin Ltd. (NYSE:GRMN) Bought by International Assets Investment Management LLC

International Assets Investment Management LLC purchased a new stake in Garmin Ltd. (NYSE:GRMN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 67,612 shares of the scientific and technical instruments company’s stock, valued at approximately $8,691,000.

A number of other institutional investors also recently modified their holdings of the company. Blue Trust Inc. increased its stake in 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 last quarter. Independent Advisor Alliance raised its holdings in Garmin by 5.3% during the third quarter. Independent Advisor Alliance now owns 2,207 shares of the scientific and technical instruments company’s stock worth $232,000 after acquiring an additional 111 shares in the last quarter. Balentine LLC boosted its position in Garmin by 2.0% during the third quarter. Balentine LLC now owns 6,595 shares of the scientific and technical instruments company’s stock valued at $694,000 after purchasing an additional 131 shares during the last quarter. Syntax Advisors LLC grew its stake in Garmin by 3.2% in the third quarter. Syntax Advisors LLC now owns 4,793 shares of the scientific and technical instruments company’s stock valued at $504,000 after purchasing an additional 148 shares in the last quarter. Finally, Global Retirement Partners LLC increased its position in shares of Garmin by 41.1% during the 4th quarter. Global Retirement Partners LLC now owns 556 shares of the scientific and technical instruments company’s stock worth $69,000 after purchasing an additional 162 shares during the last quarter. 73.41% of the stock is currently owned by institutional investors.

Garmin Stock Up 1.2 %

Garmin stock opened at $167.88 on Tuesday. The company’s 50-day moving average price is $145.88 and its two-hundred day moving average price is $130.05. The stock has a market cap of $32.25 billion, a P/E ratio of 23.68, a P/E/G ratio of 5.31 and a beta of 0.99. Garmin Ltd. has a twelve month low of $99.61 and a twelve month high of $167.90.

Garmin (NYSE:GRMN) last announced its earnings results on Wednesday, May 1st. The scientific and technical instruments company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.42. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.25 billion. Garmin had a return on equity of 17.26% and a net margin of 24.96%. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.02 earnings per share. Equities analysts anticipate that Garmin Ltd. will post 5.58 earnings per share for the current fiscal year.

Garmin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.79%. Garmin’s payout ratio is presently 41.18%.

Insider Activity at Garmin

In other Garmin news, Director Jonathan Burrell sold 15,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $146.15, for a total value of $2,192,250.00. Following the completion of the sale, the director now owns 623,834 shares of the company’s stock, valued at approximately $91,173,339.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Clifton A. Pemble sold 1,622 shares of the stock in a transaction 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 directly owns 159,319 shares of the company’s stock, valued at approximately $21,379,016.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jonathan Burrell sold 15,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $146.15, for a total value of $2,192,250.00. Following the completion of the transaction, the director now directly owns 623,834 shares of the company’s stock, valued at approximately $91,173,339.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 99,476 shares of company stock worth $14,166,944. Corporate insiders own 19.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Barclays raised their target price on shares of Garmin from $140.00 to $166.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Barrington Research boosted their price objective on shares of Garmin from $119.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 22nd. JPMorgan Chase & Co. raised their target price on shares of Garmin from $155.00 to $175.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. 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, Bank of America raised their price objective on Garmin from $120.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. Six research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $153.50.

Garmin Company 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.