Cwm LLC Increases Stock Position in Garmin Ltd. (NYSE:GRMN)

CWM LLC boosted its holdings in Garmin Ltd. (NYSE:GRMN - Free Report) by 105.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,061 shares of the scientific and technical instruments company's stock after purchasing an additional 13,378 shares during the quarter. CWM LLC's holdings in Garmin were worth $5,659,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of GRMN. Vanguard Group Inc. grew its holdings in shares of Garmin by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 18,067,708 shares of the scientific and technical instruments company's stock valued at $3,726,645,000 after purchasing an additional 215,344 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Garmin by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 4,438,796 shares of the scientific and technical instruments company's stock valued at $913,544,000 after purchasing an additional 75,332 shares during the last quarter. Norges Bank bought a new stake in shares of Garmin during the 4th quarter valued at approximately $396,184,000. Invesco Ltd. grew its holdings in shares of Garmin by 9.6% during the 4th quarter. Invesco Ltd. now owns 1,708,886 shares of the scientific and technical instruments company's stock valued at $352,475,000 after purchasing an additional 149,210 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Garmin by 20.2% during the 4th 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 purchasing an additional 286,765 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company's stock.

Garmin Trading Up 1.7%

GRMN traded up $3.78 during trading on Thursday, reaching $224.58. 405,153 shares of the company's stock were exchanged, compared to its average volume of 904,809. Garmin Ltd. has a one year low of $160.71 and a one year high of $246.50. The stock has a market capitalization of $43.24 billion, a PE ratio of 29.55, a price-to-earnings-growth ratio of 2.42 and a beta of 0.97. The firm has a fifty day moving average price of $205.81 and a two-hundred day moving average price of $207.35.

Garmin (NYSE:GRMN - Get Free Report) last issued 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 analysts' consensus estimates of $1.62 by ($0.01). The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.50 billion. Garmin had a return on equity of 19.21% and a net margin of 22.76%. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.42 EPS. Sell-side analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current 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 1.60%. Garmin's dividend payout ratio (DPR) is currently 47.37%.

Insider Buying and Selling

In related news, CFO Douglas G. Boessen sold 1,859 shares of the business's 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 transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the chief executive officer owned 141,626 shares in the company, valued at $28,785,484.50. The trade was a 5.28% decrease in their position. The disclosure for this sale can be found here. 15.38% of the stock is currently owned by insiders.

Analysts Set New Price Targets

GRMN has been the topic of several research reports. Morgan Stanley lifted their price target on shares of Garmin from $159.00 to $172.00 and gave the company an "underweight" rating in a report on Thursday, May 1st. Barclays decreased their price target 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. boosted their target price on shares of Garmin from $215.00 to $250.00 and gave the stock a "neutral" rating in a report on Thursday. 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 company's stock. Based on data from MarketBeat.com, the stock presently has an average 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.