Bridgefront Capital LLC Buys Shares of 1,413 Garmin Ltd. (NYSE:GRMN)

Bridgefront Capital LLC acquired a new position in Garmin Ltd. (NYSE:GRMN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,413 shares of the scientific and technical instruments company's stock, valued at approximately $291,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Garmin during the 4th quarter worth about $396,184,000. Northern Trust Corp boosted its holdings in Garmin by 20.2% in the fourth quarter. Northern Trust Corp now owns 1,708,495 shares of the scientific and technical instruments company's stock worth $352,394,000 after acquiring an additional 286,765 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in Garmin by 164.7% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,145 shares of the scientific and technical instruments company's stock valued at $82,121,000 after acquiring an additional 247,726 shares during the period. Vanguard Group Inc. increased its holdings in shares of Garmin by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 18,067,708 shares of the scientific and technical instruments company's stock valued at $3,726,645,000 after acquiring an additional 215,344 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its position in shares of Garmin by 32.2% during the fourth quarter. Allianz Asset Management GmbH now owns 675,950 shares of the scientific and technical instruments company's stock worth $139,421,000 after purchasing an additional 164,818 shares during the period. 81.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Garmin news, VP Susan Lyman sold 2,829 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $215.51, for a total transaction of $609,677.79. Following the sale, the vice president now directly owns 8,432 shares of the company's stock, valued at $1,817,180.32. This represents a 25.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Clifton A. Pemble sold 7,202 shares of Garmin stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $227.14, for a total transaction of $1,635,862.28. Following the completion of the transaction, the chief executive officer now owns 149,525 shares of the company's stock, valued at $33,963,108.50. The trade was a 4.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,342 shares of company stock worth $5,486,094. Insiders own 15.38% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on GRMN shares. JPMorgan Chase & Co. reduced their price target 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. Tigress Financial boosted their target price on shares of 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 upped their target price on shares of Garmin from $159.00 to $172.00 and gave the stock an "underweight" rating in a report on Thursday, May 1st. Finally, Barclays cut their price target on Garmin from $188.00 to $152.00 and set an "underweight" rating for the company in a research note on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $194.80.

Garmin Stock Up 0.6 %

Garmin stock traded up $1.14 during midday trading on Friday, hitting $191.55. 544,637 shares of the stock were exchanged, compared to its average volume of 877,093. The stock has a market capitalization of $36.88 billion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 1.36 and a beta of 0.99. Garmin Ltd. has a 52-week low of $158.38 and a 52-week high of $246.50. The business's 50-day moving average price is $200.18 and its 200-day moving average price is $207.52.

Garmin (NYSE:GRMN - Get Free Report) last released its earnings results on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.01). The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.50 billion. Garmin had a net margin of 22.42% and a return on equity of 19.31%. The business's revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.42 earnings per share. On average, sell-side analysts predict that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.60 annualized dividend and a yield of 1.88%. Garmin's payout ratio is currently 47.37%.

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.