Deutsche Bank AG increased its position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 5.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 506,675 shares of the scientific and technical instruments company's stock after purchasing an additional 25,640 shares during the quarter. Deutsche Bank AG owned 0.26% of Garmin worth $104,507,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Garmin by 1.2% in the 4th 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 buying an additional 215,344 shares during the last quarter. Geode Capital Management LLC raised its holdings in Garmin by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 4,438,796 shares of the scientific and technical instruments company's stock worth $913,544,000 after purchasing an additional 75,332 shares during the last quarter. Norges Bank bought a new position in Garmin during the 4th quarter worth approximately $396,184,000. Invesco Ltd. raised its holdings in Garmin by 9.6% during the 4th quarter. Invesco Ltd. now owns 1,708,886 shares of the scientific and technical instruments company's stock worth $352,475,000 after purchasing an additional 149,210 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Garmin by 20.2% during the 4th quarter. Northern Trust Corp now owns 1,708,495 shares of the scientific and technical instruments company's stock worth $352,394,000 after purchasing an additional 286,765 shares during the last quarter. Institutional investors own 81.60% of the company's stock.
Insiders Place Their Bets
In other news, CFO Douglas G. Boessen sold 2,763 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $226.55, for a total value of $625,957.65. Following the sale, the chief financial officer now directly owns 30,936 shares in the company, valued at approximately $7,008,550.80. This trade represents a 8.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Patrick Desbois sold 6,911 shares of the business's stock in a transaction that occurred 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 transaction, the chief operating officer now owns 63,048 shares of the company's stock, valued at approximately $14,321,353.20. This trade represents a 9.88% 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 worth $5,486,094. 15.38% of the stock is currently owned by company insiders.
Garmin Stock Performance
NYSE:GRMN traded down $0.16 during trading hours on Wednesday, reaching $200.28. The stock had a trading volume of 634,354 shares, compared to its average volume of 879,042. Garmin Ltd. has a 52 week low of $158.38 and a 52 week high of $246.50. The company has a 50 day moving average price of $199.22 and a two-hundred day moving average price of $208.03. The stock has a market capitalization of $38.56 billion, a PE ratio of 27.40, a PEG ratio of 1.36 and a beta of 0.99.
Garmin (NYSE:GRMN - Get Free Report) last announced its earnings results on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $1.50 billion. During the same quarter last year, the firm posted $1.42 EPS. Garmin's revenue for the quarter was up 11.1% compared to the same quarter last year. Equities research analysts predict that Garmin Ltd. will post 7.8 EPS for the current year.
Garmin Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend is Friday, March 13th. Garmin's dividend payout ratio is 47.37%.
Analyst Ratings Changes
Several brokerages have recently commented on GRMN. 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 report on Thursday, May 1st. Barclays lowered their target price on Garmin from $188.00 to $152.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 30th. Tigress Financial lifted their target price on Garmin from $265.00 to $285.00 and gave the company a "strong-buy" rating in a report on Wednesday, February 26th. Finally, Morgan Stanley upped their target price on Garmin from $159.00 to $172.00 and gave the stock an "underweight" rating in a research note on Thursday, May 1st. Three 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 a consensus rating of "Hold" and a consensus target price of $194.80.
Read Our Latest Analysis on Garmin
About Garmin
(
Free Report)
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.
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