1,704 Shares in Garmin Ltd. (NYSE:GRMN) Bought by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI bought a new stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,704 shares of the scientific and technical instruments company's stock, valued at approximately $370,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GRMN. Norges Bank bought a new position in shares of Garmin during the fourth quarter valued at approximately $396,184,000. GAMMA Investing LLC increased its holdings in Garmin by 25,047.9% in the first quarter. GAMMA Investing LLC now owns 885,456 shares of the scientific and technical instruments company's stock valued at $192,259,000 after buying an additional 881,935 shares in the last quarter. Congress Asset Management Co. increased its holdings in Garmin by 673.4% in the first quarter. Congress Asset Management Co. now owns 441,318 shares of the scientific and technical instruments company's stock valued at $95,823,000 after buying an additional 384,258 shares in the last quarter. Northern Trust Corp increased its holdings in Garmin by 20.2% in the fourth quarter. Northern Trust Corp now owns 1,708,495 shares of the scientific and technical instruments company's stock valued at $352,394,000 after buying an additional 286,765 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in Garmin by 164.7% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,145 shares of the scientific and technical instruments company's stock valued at $82,121,000 after buying an additional 247,726 shares in the last quarter. 81.60% of the stock is owned by hedge funds and other institutional investors.

Garmin Trading Up 1.1%

GRMN traded up $2.54 during trading on Friday, hitting $227.94. 807,676 shares of the company's stock were exchanged, compared to its average volume of 908,695. Garmin Ltd. has a 1 year low of $160.71 and a 1 year high of $246.50. The stock has a 50 day moving average price of $207.24 and a 200 day moving average price of $207.62. The firm has a market cap of $43.89 billion, a P/E ratio of 29.99, a price-to-earnings-growth ratio of 2.55 and a beta of 0.97.

Garmin (NYSE:GRMN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.01). Garmin had a net margin of 22.76% and a return on equity of 19.21%. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the company earned $1.42 earnings per share. The company's revenue was up 11.1% on a year-over-year basis. Analysts forecast 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 was paid on Friday, June 27th. Stockholders of record on Monday, June 16th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.58%. Garmin's dividend payout ratio is 47.37%.

Insider Buying and Selling

In other Garmin news, CFO Douglas G. Boessen sold 1,859 shares of Garmin stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $215.00, for a total transaction of $399,685.00. Following the sale, the chief financial officer owned 29,146 shares in the company, valued at $6,266,390. The trade was a 6.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Clifton A. Pemble sold 7,899 shares of Garmin stock in a transaction 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 sale, the chief executive officer owned 141,626 shares in the company, valued at $28,785,484.50. This represents a 5.28% decrease in their position. The disclosure for this sale can be found here. Company insiders own 15.38% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GRMN shares. Morgan Stanley boosted their target price on shares of Garmin from $159.00 to $172.00 and gave the company an "underweight" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. upped their target price on shares of Garmin from $215.00 to $250.00 and gave the company a "neutral" rating in a report on Thursday. Finally, Barclays decreased their price target on shares of Garmin from $188.00 to $152.00 and set an "underweight" rating for the company in a research note on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $214.75.

Garmin Company 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.