BSW Wealth Partners bought a new stake in Garmin Ltd. (NYSE:GRMN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,818 shares of the scientific and technical instruments company's stock, valued at approximately $395,000.
Other hedge funds also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd grew its stake in shares of Garmin by 864.3% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company's stock worth $28,000 after buying an additional 121 shares during the last quarter. TFC Financial Management Inc. raised its stake in Garmin by 1,633.3% during the first quarter. TFC Financial Management Inc. now owns 156 shares of the scientific and technical instruments company's stock valued at $34,000 after buying an additional 147 shares during the last quarter. Garde Capital Inc. bought a new stake in Garmin in the first quarter worth $40,000. Investment Management Corp VA ADV purchased a new stake in shares of Garmin in the fourth quarter worth $46,000. Finally, Measured Risk Portfolios Inc. bought a new position in shares of Garmin during the fourth quarter valued at $47,000. 81.60% of the stock is currently owned by institutional investors.
Garmin Stock Performance
Shares of GRMN stock traded up $0.35 during mid-day trading on Monday, hitting $208.71. The company's stock had a trading volume of 1,212,393 shares, compared to its average volume of 905,057. The stock has a market cap of $40.19 billion, a price-to-earnings ratio of 27.46, a PEG ratio of 2.34 and a beta of 0.98. Garmin Ltd. has a 52-week low of $158.90 and a 52-week high of $246.50. The business has a 50-day moving average price of $200.06 and a 200 day moving average price of $206.88.
Garmin (NYSE:GRMN - Get Free Report) last issued its earnings results on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 earnings per share 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 19.21% and a net margin of 22.76%. Garmin's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm posted $1.42 EPS. Equities research analysts predict that Garmin Ltd. will post 7.8 EPS for the current fiscal year.
Garmin Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Monday, June 16th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.72%. Garmin's dividend payout ratio (DPR) is 47.37%.
Insider Transactions at Garmin
In other Garmin news, CEO Clifton A. Pemble sold 7,899 shares of the business's stock in a transaction on 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 sale, the chief executive officer directly owned 141,626 shares in the company, valued at approximately $28,785,484.50. The trade was a 5.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 15.38% of the company's stock.
Analyst Ratings Changes
GRMN has been the topic of a number of analyst reports. Barclays dropped their price target on shares of Garmin from $188.00 to $152.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 30th. Morgan Stanley lifted their target price on shares of Garmin from $159.00 to $172.00 and gave the stock an "underweight" rating in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. cut their price target 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. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $206.00.
Get Our Latest Stock Analysis on GRMN
Garmin Profile
(
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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