Financial Advocates Investment Management Purchases 410 Shares of Garmin Ltd. (NYSE:GRMN)

Financial Advocates Investment Management grew its position in Garmin Ltd. (NYSE:GRMNFree Report) by 8.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,564 shares of the scientific and technical instruments company’s stock after purchasing an additional 410 shares during the quarter. Financial Advocates Investment Management’s holdings in Garmin were worth $715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Artisan Partners Limited Partnership grew its stake in Garmin by 2.5% during the third quarter. Artisan Partners Limited Partnership now owns 7,246,834 shares of the scientific and technical instruments company’s stock valued at $762,367,000 after acquiring an additional 176,510 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Garmin by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,715,703 shares of the scientific and technical instruments company’s stock worth $220,541,000 after purchasing an additional 45,242 shares during the last quarter. Northern Trust Corp lifted its position in shares of Garmin by 7.1% in the third quarter. Northern Trust Corp now owns 1,630,148 shares of the scientific and technical instruments company’s stock worth $171,492,000 after buying an additional 108,427 shares in the last quarter. Invesco Ltd. boosted its stake in Garmin by 10.7% during the third quarter. Invesco Ltd. now owns 1,411,205 shares of the scientific and technical instruments company’s stock valued at $148,459,000 after buying an additional 136,929 shares during the last quarter. Finally, California Public Employees Retirement System grew its holdings in Garmin by 0.7% during the 4th quarter. California Public Employees Retirement System now owns 932,299 shares of the scientific and technical instruments company’s stock valued at $119,838,000 after buying an additional 6,858 shares in the last quarter. 73.41% of the stock is owned by hedge funds and other institutional investors.

Garmin Price Performance

NYSE GRMN opened at $170.94 on Monday. The stock’s fifty day moving average price is $151.46 and its 200 day moving average price is $134.29. The company has a market cap of $32.83 billion, a price-to-earnings ratio of 24.11, a PEG ratio of 5.47 and a beta of 0.99. Garmin Ltd. has a 1 year low of $99.61 and a 1 year high of $171.47.

Garmin (NYSE:GRMNGet Free Report) last posted its earnings results on Wednesday, May 1st. The scientific and technical instruments company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.00 by $0.42. The firm 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%. Garmin’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period last year, the company earned $1.02 earnings per share. Research analysts expect that Garmin Ltd. will post 5.58 earnings per share for the current year.

Garmin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be given a dividend of $0.75 per share. The ex-dividend date is Monday, June 17th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.76%. Garmin’s dividend payout ratio (DPR) is 41.18%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Barclays lifted their price target on Garmin from $140.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Barrington Research increased their price target on Garmin from $119.00 to $140.00 and gave the company an “equal weight” rating in a report on Thursday, February 22nd. Tigress Financial lifted their price objective on shares of Garmin from $175.00 to $210.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, May 14th. JPMorgan Chase & Co. increased 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. Finally, StockNews.com lowered shares of Garmin from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. Six research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $159.33.

Check Out Our Latest Stock Analysis on GRMN

Insider Activity at Garmin

In related news, VP Susan Lyman sold 2,587 shares of Garmin stock in a transaction dated Monday, February 26th. The stock was 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 SEC, which is available at this link. In other news, VP Susan Lyman sold 2,587 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $135.18, for a total transaction of $349,710.66. Following the completion of the sale, the vice president now owns 7,174 shares of the company’s stock, valued at $969,781.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jonathan Burrell sold 15,000 shares of the business’s stock in a transaction dated 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 transaction, 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 quarter, insiders have sold 99,476 shares of company stock valued at $14,166,944. 19.54% of the stock is owned by company insiders.

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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