Bessemer Group Inc. Has $1.94 Million Stock Holdings in Garmin Ltd. (NYSE:GRMN)

Bessemer Group Inc. trimmed its position in Garmin Ltd. (NYSE:GRMN - Free Report) by 56.2% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 8,917 shares of the scientific and technical instruments company's stock after selling 11,427 shares during the period. Bessemer Group Inc.'s holdings in Garmin were worth $1,936,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Larson Financial Group LLC boosted its stake in Garmin by 26.8% in the fourth quarter. Larson Financial Group LLC now owns 241 shares of the scientific and technical instruments company's stock valued at $50,000 after acquiring an additional 51 shares during the last quarter. Lifeworks Advisors LLC lifted its stake in shares of Garmin by 0.3% in the 4th quarter. Lifeworks Advisors LLC now owns 20,169 shares of the scientific and technical instruments company's stock valued at $4,160,000 after purchasing an additional 58 shares during the period. Principal Street Partners LLC grew its stake in shares of Garmin by 1.8% during the fourth quarter. Principal Street Partners LLC now owns 3,201 shares of the scientific and technical instruments company's stock worth $660,000 after purchasing an additional 58 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Garmin by 2.7% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,251 shares of the scientific and technical instruments company's stock worth $489,000 after purchasing an additional 59 shares during the period. Finally, OneAscent Financial Services LLC increased its holdings in Garmin by 3.7% in the fourth quarter. OneAscent Financial Services LLC now owns 1,753 shares of the scientific and technical instruments company's stock valued at $361,000 after purchasing an additional 63 shares during the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Clifton A. Pemble sold 7,899 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $203.25, for a total transaction of $1,605,471.75. Following the completion of the transaction, the chief executive officer now directly owns 141,626 shares in the company, valued at $28,785,484.50. This represents a 5.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 15.38% of the company's stock.

Garmin Stock Performance

Shares of GRMN stock opened at $208.49 on Friday. Garmin Ltd. has a 52 week low of $158.90 and a 52 week high of $246.50. The company's 50 day moving average price is $200.06 and its two-hundred day moving average price is $206.95. The company has a market capitalization of $40.14 billion, a P/E ratio of 27.43, a price-to-earnings-growth ratio of 2.34 and a beta of 0.98.

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 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 the consensus estimate of $1.50 billion. Garmin had a net margin of 22.76% and a return on equity of 19.21%. The company's revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.42 earnings per share. Analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Announces Dividend

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

Wall Street Analysts Forecast Growth

GRMN has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their target price on Garmin from $220.00 to $215.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Morgan Stanley boosted 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. Finally, Barclays cut 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. Two 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. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $206.00.

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.

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