FAS Wealth Partners Inc. Has $3.24 Million Stock Position in Garmin Ltd. (NYSE:GRMN)

FAS Wealth Partners Inc. cut its holdings in Garmin Ltd. (NYSE:GRMN - Free Report) by 19.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,691 shares of the scientific and technical instruments company's stock after selling 3,833 shares during the period. FAS Wealth Partners Inc.'s holdings in Garmin were worth $3,236,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GRMN. Westbourne Investments Inc. bought a new position in Garmin during the 4th quarter valued at about $320,000. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Garmin by 164.7% in the 4th 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 buying an additional 247,726 shares in the last quarter. Voleon Capital Management LP acquired a new position in shares of Garmin during the fourth quarter worth $6,502,000. Schonfeld Strategic Advisors LLC boosted its holdings in Garmin by 390.2% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 38,930 shares of the scientific and technical instruments company's stock worth $8,030,000 after acquiring an additional 30,988 shares in the last quarter. Finally, Lido Advisors LLC increased its stake in Garmin by 1,078.9% during the 4th quarter. Lido Advisors LLC now owns 45,966 shares of the scientific and technical instruments company's stock valued at $9,481,000 after purchasing an additional 42,067 shares in the last quarter. 81.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GRMN has been the topic of several recent research reports. Morgan Stanley upped their price objective on shares of Garmin from $159.00 to $172.00 and gave the company an "underweight" rating in a report on Thursday, May 1st. Barclays reduced their price target on shares of Garmin from $188.00 to $152.00 and set an "underweight" rating for the company in a research report on Wednesday, April 30th. JPMorgan Chase & Co. decreased their price target on shares of Garmin from $220.00 to $215.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Finally, Tigress Financial raised their target price on Garmin from $265.00 to $285.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, February 26th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Garmin currently has a consensus rating of "Hold" and a consensus price target of $194.80.

Garmin Price Performance

NYSE GRMN traded down $3.87 on Tuesday, hitting $186.28. 232,106 shares of the company's stock were exchanged, compared to its average volume of 872,382. Garmin Ltd. has a fifty-two week low of $158.38 and a fifty-two week high of $246.50. The firm's 50-day moving average price is $203.01 and its two-hundred day moving average price is $207.10. The firm has a market cap of $35.88 billion, a price-to-earnings ratio of 25.48, a P/E/G ratio of 1.36 and a beta of 0.99.

Garmin (NYSE:GRMN - Get Free Report) last announced its quarterly earnings data 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). Garmin had a net margin of 22.42% and a return on equity of 19.31%. The firm had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.50 billion. During the same period in the previous year, the company posted $1.42 EPS. The business's quarterly revenue was up 11.1% on a year-over-year basis. On average, research analysts predict that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Announces Dividend

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. This represents a $3.60 annualized dividend and a yield of 1.93%. The ex-dividend date is Friday, March 13th. Garmin's dividend payout ratio (DPR) is presently 47.37%.

Insider Buying and Selling at Garmin

In related news, Director Matthew Munn sold 4,637 shares of the firm's stock in a transaction dated 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 completion of the transaction, the director now owns 11,450 shares of the company's stock, valued at $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 is available through the SEC website. Also, VP Susan Lyman sold 2,829 shares of the company's stock in a transaction on Monday, March 10th. The shares were 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 directly owns 8,432 shares in the company, valued at $1,817,180.32. This represents a 25.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,342 shares of company stock valued at $5,486,094 in the last ninety days. Insiders own 19.54% 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.