Garmin Ltd. (NYSE:GRMN) Shares Purchased by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. increased its stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 11.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,646 shares of the scientific and technical instruments company's stock after purchasing an additional 7,062 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Garmin were worth $14,905,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in Garmin during the 4th quarter worth about $127,000. Wealth Enhancement Advisory Services LLC boosted its stake in Garmin by 46.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 89,715 shares of the scientific and technical instruments company's stock worth $19,480,000 after buying an additional 28,543 shares during the last quarter. US Bancorp DE boosted its stake in Garmin by 14.4% in the 4th quarter. US Bancorp DE now owns 8,521 shares of the scientific and technical instruments company's stock worth $1,758,000 after buying an additional 1,074 shares during the last quarter. Korea Investment CORP boosted its stake in Garmin by 7.6% in the 4th quarter. Korea Investment CORP now owns 73,265 shares of the scientific and technical instruments company's stock worth $15,112,000 after buying an additional 5,200 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Garmin by 4.9% in the 4th quarter. American Century Companies Inc. now owns 60,280 shares of the scientific and technical instruments company's stock worth $12,433,000 after buying an additional 2,841 shares during the last quarter. Hedge funds and other institutional investors own 81.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. JPMorgan Chase & Co. decreased their price target on Garmin from $220.00 to $215.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Morgan Stanley raised their price target on Garmin from $159.00 to $172.00 and gave the stock an "underweight" rating in a research note on Thursday, May 1st. Finally, Barclays decreased their price target on Garmin from $188.00 to $152.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $206.00.

Garmin Stock Up 1.6%

Shares of NYSE GRMN traded up $3.34 during midday trading on Friday, hitting $208.49. The stock had a trading volume of 1,109,822 shares, compared to its average volume of 903,061. The company has a market capitalization of $40.14 billion, a price-to-earnings ratio of 27.43, a PEG ratio of 2.28 and a beta of 0.98. Garmin Ltd. has a 1-year low of $158.90 and a 1-year high of $246.50. The company has a fifty day moving average price of $199.71 and a 200 day moving average price of $207.12.

Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings data 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). The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.50 billion. Garmin had a net margin of 22.76% and a return on equity of 19.21%. The business's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.42 earnings per share. On average, research analysts forecast that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 16th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.73%. Garmin's dividend payout ratio is currently 47.37%.

Insider Activity

In related news, CEO Clifton A. Pemble sold 7,899 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $203.25, for a total transaction of $1,605,471.75. Following the transaction, the chief executive officer now directly owns 141,626 shares of the company's stock, valued at approximately $28,785,484.50. The trade was a 5.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 15.38% 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.