First Horizon Advisors Inc. Sells 6,050 Shares of Garmin Ltd. (NYSE:GRMN)

First Horizon Advisors Inc. lowered its stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 4.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 116,609 shares of the scientific and technical instruments company's stock after selling 6,050 shares during the period. First Horizon Advisors Inc. owned approximately 0.06% of Garmin worth $25,319,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of GRMN. Norges Bank purchased a new stake in shares of Garmin during the 4th quarter valued at about $396,184,000. GAMMA Investing LLC grew its position in Garmin by 25,047.9% during 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 during the period. Congress Asset Management Co. raised its position 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 worth $95,823,000 after acquiring an additional 384,258 shares during the period. Northern Trust Corp boosted its stake 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 worth $352,394,000 after acquiring an additional 286,765 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Garmin by 164.7% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,145 shares of the scientific and technical instruments company's stock worth $82,121,000 after acquiring an additional 247,726 shares during the last quarter. Institutional investors own 81.60% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on GRMN shares. JPMorgan Chase & Co. decreased their target price on Garmin from $220.00 to $215.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Morgan Stanley upped their price target on Garmin from $159.00 to $172.00 and gave the stock an "underweight" rating in a research report on Thursday, May 1st. Finally, Barclays lowered their price objective on Garmin from $188.00 to $152.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Garmin currently has a consensus rating of "Hold" and an average target price of $206.00.

Garmin Trading Up 0.3%

Garmin stock traded up $0.66 during mid-day trading on Friday, hitting $214.05. The stock had a trading volume of 496,760 shares, compared to its average volume of 906,271. The firm's 50 day moving average is $201.88 and its 200 day moving average is $206.93. The firm has a market capitalization of $41.21 billion, a P/E ratio of 28.16, a P/E/G ratio of 2.41 and a beta of 0.97. Garmin Ltd. has a one year low of $160.71 and a one year high of $246.50.

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 analysts' consensus estimates of $1.62 by ($0.01). The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.50 billion. Garmin had a return on equity of 19.21% and a net margin of 22.76%. The business's revenue was up 11.1% on a year-over-year basis. During the same period last year, the company earned $1.42 EPS. As a group, equities research analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Monday, June 16th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.68%. Garmin's dividend payout ratio (DPR) is 47.37%.

Insider Buying and Selling at Garmin

In other news, CEO Clifton A. Pemble sold 7,899 shares of the company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $203.25, for a total value of $1,605,471.75. Following the completion of the transaction, the chief executive officer owned 141,626 shares of the company's stock, valued at $28,785,484.50. This represents a 5.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 15.38% of the stock is currently owned by company insiders.

About Garmin

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.