Flagship Harbor Advisors LLC Has $501,000 Stock Holdings in Garmin Ltd. (NYSE:GRMN)

Flagship Harbor Advisors LLC lowered its position in shares of Garmin Ltd. (NYSE:GRMN) by 2.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,308 shares of the scientific and technical instruments company’s stock after selling 68 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Garmin were worth $501,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its stake in Garmin by 31.3% in the 4th quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company’s stock worth $401,000 after purchasing an additional 463 shares in the last quarter. Venturi Wealth Management LLC increased its stake in Garmin by 67.7% during the 4th quarter. Venturi Wealth Management LLC now owns 208 shares of the scientific and technical instruments company’s stock worth $43,000 after acquiring an additional 84 shares during the period. Global Retirement Partners LLC raised its holdings in Garmin by 79.0% in the 4th quarter. Global Retirement Partners LLC now owns 940 shares of the scientific and technical instruments company’s stock valued at $194,000 after acquiring an additional 415 shares in the last quarter. Howard Capital Management Inc. bought a new stake in shares of Garmin during the 4th quarter valued at $226,000. Finally, Y Intercept Hong Kong Ltd lifted its position in shares of Garmin by 37.9% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 3,779 shares of the scientific and technical instruments company’s stock valued at $779,000 after acquiring an additional 1,039 shares during the period. Institutional investors and hedge funds own 81.60% of the company’s stock.

Wall Street Analyst Weigh In

GRMN has been the topic of a number of recent analyst reports. Tigress Financial raised their price target on Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, February 26th. 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 research note on Thursday, May 1st. JPMorgan Chase & Co. dropped their target price on shares of Garmin from $220.00 to $215.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st. Finally, Barclays cut their target price on Garmin from $188.00 to $152.00 and set an “underweight” rating for the company in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Garmin has an average rating of “Hold” and an average price target of $206.00.

Garmin Trading Down 0.8%

Shares of NYSE GRMN opened at $203.54 on Thursday. The company has a market cap of $39.19 billion, a price-to-earnings ratio of 26.78, a PEG ratio of 2.30 and a beta of 0.98. Garmin Ltd. has a 12 month low of $158.90 and a 12 month high of $246.50. The stock has a 50-day moving average price of $199.41 and a two-hundred day moving average price of $207.21.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.01). Garmin had a return on equity of 19.21% and a net margin of 22.76%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the firm posted $1.42 EPS. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, sell-side analysts predict that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.77%. Garmin’s payout ratio is 47.37%.

Insider Transactions at Garmin

In other news, CEO Clifton A. Pemble sold 7,899 shares of the firm’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $203.25, for a total transaction of $1,605,471.75. Following the completion of the transaction, the chief executive officer now owns 141,626 shares of the company’s stock, valued at approximately $28,785,484.50. This trade represents a 5.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 15.38% of the company’s stock.

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.