Atwood & Palmer Inc. reduced its position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 2.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 92,906 shares of the scientific and technical instruments company's stock after selling 2,383 shares during the period. Atwood & Palmer Inc.'s holdings in Garmin were worth $20,173,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in Garmin by 31.3% during the fourth quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company's stock valued at $401,000 after purchasing an additional 463 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Garmin by 35.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,474 shares of the scientific and technical instruments company's stock worth $2,820,000 after purchasing an additional 3,539 shares in the last quarter. Choreo LLC grew its stake in Garmin by 19.2% in the 4th quarter. Choreo LLC now owns 3,329 shares of the scientific and technical instruments company's stock worth $689,000 after buying an additional 536 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in Garmin during the fourth quarter valued at about $26,000. Finally, Wilmington Savings Fund Society FSB lifted its position in Garmin by 152.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 2,643 shares of the scientific and technical instruments company's stock worth $545,000 after buying an additional 1,594 shares during the last quarter. 81.60% of the stock is currently owned by hedge funds and other institutional investors.
Garmin Trading Up 0.8%
NYSE:GRMN traded up $1.76 during trading hours on Tuesday, reaching $210.05. The company had a trading volume of 683,518 shares, compared to its average volume of 888,135. The firm has a market cap of $40.44 billion, a price-to-earnings ratio of 28.73, a PEG ratio of 1.36 and a beta of 0.98. Garmin Ltd. has a 52 week low of $158.38 and a 52 week high of $246.50. The firm's 50 day moving average price is $195.20 and its 200-day moving average price is $208.04.
Garmin (NYSE:GRMN - Get Free Report) last posted 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 analysts' consensus estimates of $1.62 by ($0.01). The business had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.50 billion. Garmin had a return on equity of 19.31% and a net margin of 22.42%. The business's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.42 EPS. On average, analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.
Garmin Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 16th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.71%. Garmin's dividend payout ratio is 47.37%.
Analyst Ratings Changes
Several equities research analysts recently weighed in on GRMN shares. Morgan Stanley increased their target price on Garmin from $159.00 to $172.00 and gave the company an "underweight" rating in a report on Thursday, May 1st. Tigress Financial raised their price objective on shares of Garmin from $265.00 to $285.00 and gave the stock a "strong-buy" rating in a report on Wednesday, February 26th. Barclays dropped their target price 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. Finally, JPMorgan Chase & Co. cut 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. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $206.00.
View 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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