Axecap Investments LLC Takes $1.28 Million Position in Garmin Ltd. (NYSE:GRMN)

Axecap Investments LLC acquired a new stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,904 shares of the scientific and technical instruments company's stock, valued at approximately $1,282,000.

Other large investors have also recently modified their holdings of the company. Brighton Jones LLC raised its position in shares of 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 worth $401,000 after acquiring an additional 463 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in Garmin during the 4th quarter valued at approximately $26,000. Stephens Inc. AR raised its holdings in Garmin by 2.4% during the 4th quarter. Stephens Inc. AR now owns 3,180 shares of the scientific and technical instruments company's stock worth $656,000 after purchasing an additional 75 shares during the last quarter. Kestra Private Wealth Services LLC lifted its position in shares of Garmin by 4.2% in the 4th quarter. Kestra Private Wealth Services LLC now owns 7,212 shares of the scientific and technical instruments company's stock worth $1,488,000 after purchasing an additional 291 shares during the period. Finally, Savant Capital LLC lifted its position in shares of Garmin by 47.2% in the 4th quarter. Savant Capital LLC now owns 9,075 shares of the scientific and technical instruments company's stock worth $1,872,000 after purchasing an additional 2,910 shares during the period. Institutional investors and hedge funds own 81.60% of the company's stock.

Garmin Price Performance

Shares of NYSE GRMN traded down $0.79 during mid-day trading on Thursday, reaching $208.34. 693,270 shares of the company's stock traded hands, compared to its average volume of 890,224. The business has a 50-day simple moving average of $196.32 and a 200 day simple moving average of $208.06. The stock has a market cap of $40.11 billion, a P/E ratio of 28.50, a PEG ratio of 1.36 and a beta of 0.98. Garmin Ltd. has a 1-year low of $158.38 and a 1-year high of $246.50.

Garmin (NYSE:GRMN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.01). The company 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 revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $1.42 earnings per share. Equities research analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GRMN. Tigress Financial lifted their target price on Garmin from $265.00 to $285.00 and gave the stock a "strong-buy" rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. dropped their price objective on shares of Garmin from $220.00 to $215.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Barclays reduced their target price on Garmin from $188.00 to $152.00 and set an "underweight" rating for the company in a research note on Wednesday, April 30th. Finally, Morgan Stanley boosted their target price on Garmin from $159.00 to $172.00 and gave the company an "underweight" rating in a research report on Thursday, May 1st. Two equities research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $206.00.

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.