Caisse DE Depot ET Placement DU Quebec Acquires 247,726 Shares of Garmin Ltd. (NYSE:GRMN)

Caisse DE Depot ET Placement DU Quebec boosted its holdings in Garmin Ltd. (NYSE:GRMN - Free Report) by 164.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 398,145 shares of the scientific and technical instruments company's stock after buying an additional 247,726 shares during the period. Caisse DE Depot ET Placement DU Quebec owned approximately 0.21% of Garmin worth $82,121,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GRMN. Golden State Wealth Management LLC bought a new stake in shares of Garmin in the fourth quarter worth about $26,000. Aster Capital Management DIFC Ltd lifted its stake in Garmin by 864.3% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company's stock valued at $28,000 after buying an additional 121 shares in the last quarter. Pinnacle Bancorp Inc. acquired a new position in shares of Garmin in the fourth quarter valued at approximately $29,000. SOA Wealth Advisors LLC. bought a new stake in shares of Garmin during the fourth quarter worth $37,000. Finally, Kentucky Trust Co bought a new stake in Garmin in the 4th quarter valued at $41,000. 81.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Tigress Financial lifted their price target on Garmin from $265.00 to $285.00 and gave the company a "strong-buy" rating in a research note on Wednesday, February 26th. Barclays lowered 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. JPMorgan Chase & Co. reduced their price objective on shares of Garmin from $220.00 to $215.00 and set a "neutral" rating for the company in a research note on Thursday. Finally, Morgan Stanley lifted their target price on Garmin from $159.00 to $172.00 and gave the company an "underweight" rating in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Garmin currently has an average rating of "Hold" and an average target price of $194.80.

Garmin Price Performance

GRMN stock traded down $1.99 during midday trading on Monday, reaching $189.79. 875,497 shares of the company were exchanged, compared to its average volume of 874,895. Garmin Ltd. has a one year low of $158.38 and a one year high of $246.50. The firm has a market capitalization of $36.56 billion, a price-to-earnings ratio of 25.96, a price-to-earnings-growth ratio of 1.36 and a beta of 0.99. The business has a 50-day moving average price of $203.74 and a two-hundred day moving average price of $206.95.

Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings results 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 net margin of 22.42% and a return on equity of 19.31%. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the company earned $1.42 earnings per share. The firm's revenue was up 11.1% compared to the same quarter last year. As a group, analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Friday, March 13th. Garmin's payout ratio is 47.37%.

Insider Activity

In other news, COO Patrick Desbois sold 6,911 shares of the company's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $227.15, for a total transaction of $1,569,833.65. Following the completion of the sale, the chief operating officer now directly owns 63,048 shares in the company, valued at approximately $14,321,353.20. This represents a 9.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Susan Lyman sold 2,829 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $215.51, for a total value of $609,677.79. Following the completion of the transaction, the vice president now owns 8,432 shares in the company, valued at $1,817,180.32. The trade was a 25.12 % 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 valued at $5,486,094. 19.54% of the stock is owned by company insiders.

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.