NBC Securities Inc. Makes New $57,000 Investment in Garmin Ltd. (NYSE:GRMN)

NBC Securities Inc. purchased a new position in Garmin Ltd. (NYSE:GRMN) during the 1st quarter, HoldingsChannel reports. The firm purchased 265 shares of the scientific and technical instruments company’s stock, valued at approximately $57,000.

Other institutional investors also recently added to or reduced their stakes in the company. Savant Capital LLC boosted its stake in Garmin by 47.2% in the 4th quarter. Savant Capital LLC now owns 9,075 shares of the scientific and technical instruments company’s stock valued at $1,872,000 after buying an additional 2,910 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Garmin in the 4th quarter valued at $127,000. Allspring Global Investments Holdings LLC boosted its stake in Garmin by 229.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 159,056 shares of the scientific and technical instruments company’s stock valued at $32,535,000 after buying an additional 110,705 shares in the last quarter. Van ECK Associates Corp boosted its stake in Garmin by 5.9% in the fourth quarter. Van ECK Associates Corp now owns 29,900 shares of the scientific and technical instruments company’s stock worth $6,167,000 after purchasing an additional 1,659 shares in the last quarter. Finally, Principal Securities Inc. grew its holdings in shares of Garmin by 23.0% during the fourth quarter. Principal Securities Inc. now owns 1,781 shares of the scientific and technical instruments company’s stock worth $367,000 after purchasing an additional 333 shares during the last quarter. 81.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on GRMN. JPMorgan Chase & Co. decreased their price objective on shares of Garmin from $220.00 to $215.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. Morgan Stanley increased their price objective on shares of Garmin from $159.00 to $172.00 and gave the stock an “underweight” rating in a report on Thursday, May 1st. Barclays decreased their price objective on shares of Garmin from $188.00 to $152.00 and set an “underweight” rating on the stock in a report on Wednesday, April 30th. Finally, Tigress Financial increased their price objective on shares of Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a report on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $206.00.

Garmin Price Performance

GRMN stock opened at $209.04 on Thursday. The stock has a market capitalization of $40.25 billion, a P/E ratio of 28.60, a P/E/G ratio of 1.36 and a beta of 0.98. The business has a 50-day moving average of $196.32 and a 200-day moving average of $208.06. Garmin Ltd. has a fifty-two week low of $158.38 and a fifty-two week high of $246.50.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.01). Garmin had a return on equity of 19.31% and a net margin of 22.42%. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the company earned $1.42 earnings per share. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. Equities analysts expect that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 16th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.72%. Garmin’s payout ratio is 47.37%.

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.