11,126 Shares in Garmin Ltd. (NYSE:GRMN) Acquired by Crestline Management LP

Crestline Management LP bought a new position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 11,126 shares of the scientific and technical instruments company's stock, valued at approximately $2,295,000.

A number of other large investors have also recently bought and sold shares of GRMN. Golden State Wealth Management LLC purchased a new stake in shares of Garmin in the 4th quarter valued at $26,000. Aster Capital Management DIFC Ltd boosted its holdings 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 purchasing an additional 121 shares during the last quarter. Pinnacle Bancorp Inc. acquired a new stake in Garmin during the 4th quarter worth about $29,000. SOA Wealth Advisors LLC. purchased a new position in shares of Garmin during the 4th quarter valued at about $37,000. Finally, Kentucky Trust Co acquired a new position in shares of Garmin in the 4th quarter valued at about $41,000. Hedge funds and other institutional investors own 81.60% of the company's stock.

Insider Activity at Garmin

In related news, Director Matthew Munn sold 4,637 shares of Garmin stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $225.31, for a total transaction of $1,044,762.47. Following the transaction, the director now owns 11,450 shares in the company, valued at approximately $2,579,799.50. This trade represents a 28.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Susan Lyman sold 2,829 shares of the business'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 transaction, the vice president now directly owns 8,432 shares in the company, valued at $1,817,180.32. This trade represents a 25.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,342 shares of company stock valued at $5,486,094. 15.38% of the stock is owned by insiders.

Garmin Trading Up 0.6 %

NYSE:GRMN traded up $1.14 during trading hours on Friday, reaching $191.55. 544,637 shares of the company were exchanged, compared to its average volume of 877,093. The firm has a market cap of $36.88 billion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 1.36 and a beta of 0.99. Garmin Ltd. has a twelve month low of $158.38 and a twelve month high of $246.50. The stock's 50-day moving average is $200.18 and its 200-day moving average is $207.52.

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 return on equity of 19.31% and a net margin of 22.42%. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the company earned $1.42 EPS. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. As a group, research analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Announces Dividend

The company 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. This represents a $3.60 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend is Friday, March 13th. Garmin's payout ratio is 47.37%.

Analysts Set New Price Targets

Several research analysts recently weighed in on GRMN shares. 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 report on Wednesday, February 26th. JPMorgan Chase & Co. decreased their target price on shares of Garmin from $220.00 to $215.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Barclays dropped their price target on shares of Garmin from $188.00 to $152.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 30th. Finally, Morgan Stanley increased their target price 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. 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 company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $194.80.

About Garmin

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.