Garmin Ltd. (NYSE:GRMN) Stock Holdings Reduced by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale cut its stake in Garmin Ltd. (NYSE:GRMN - Free Report) by 1.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 305,672 shares of the scientific and technical instruments company's stock after selling 3,115 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.16% of Garmin worth $66,371,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in 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 purchasing an additional 463 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Garmin by 45.0% during the fourth quarter. Victory Capital Management Inc. now owns 137,136 shares of the scientific and technical instruments company's stock worth $28,286,000 after purchasing an additional 42,571 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Garmin during the fourth quarter worth approximately $31,454,000. Raymond James Financial Inc. purchased a new stake in Garmin during the fourth quarter worth approximately $32,795,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Garmin during the fourth quarter worth approximately $321,000. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GRMN. JPMorgan Chase & Co. decreased their price objective on Garmin from $220.00 to $215.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Barclays decreased their price objective on Garmin from $188.00 to $152.00 and set an "underweight" rating for the company in a report on Wednesday, April 30th. Finally, Morgan Stanley increased their price objective on Garmin from $159.00 to $172.00 and gave the company an "underweight" rating in a report on Thursday, May 1st. 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $206.00.

Insider Buying and Selling

In related news, CEO Clifton A. Pemble sold 7,899 shares of the business's stock in a transaction that occurred 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 completion of 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Douglas G. Boessen sold 1,859 shares of the business's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $215.00, for a total value of $399,685.00. Following the completion of the sale, the chief financial officer directly owned 29,146 shares in the company, valued at $6,266,390. This represents a 6.00% decrease in their position. The disclosure for this sale can be found here. Insiders own 15.38% of the company's stock.

Garmin Price Performance

NYSE:GRMN traded down $2.05 during mid-day trading on Friday, reaching $215.75. The company's stock had a trading volume of 652,142 shares, compared to its average volume of 908,400. The company's fifty day simple moving average is $204.04 and its two-hundred day simple moving average is $207.19. Garmin Ltd. has a twelve month low of $160.71 and a twelve month high of $246.50. The stock has a market cap of $41.54 billion, a P/E ratio of 28.39, a P/E/G ratio of 2.44 and a beta of 0.97.

Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 earnings per share for the quarter, missing the consensus estimate 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 net margin of 22.76% and a return on equity of 19.21%. The business's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.42 earnings per share. Sell-side analysts expect that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Dividend Announcement

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 1.67%. Garmin's dividend payout ratio is currently 47.37%.

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.