Garmin Ltd. (NYSE:GRMN) Shares Purchased by Focus Partners Wealth

Focus Partners Wealth grew its stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 44.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,507 shares of the scientific and technical instruments company's stock after purchasing an additional 1,397 shares during the quarter. Focus Partners Wealth's holdings in Garmin were worth $954,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in GRMN. Geneos Wealth Management Inc. raised its holdings in Garmin by 1.7% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,863 shares of the scientific and technical instruments company's stock worth $591,000 after purchasing an additional 49 shares in the last quarter. Curbstone Financial Management Corp grew its stake in Garmin by 1.3% during the 4th quarter. Curbstone Financial Management Corp now owns 3,886 shares of the scientific and technical instruments company's stock valued at $802,000 after purchasing an additional 50 shares during the last quarter. Larson Financial Group LLC grew its stake in Garmin by 26.8% during the 4th quarter. Larson Financial Group LLC now owns 241 shares of the scientific and technical instruments company's stock valued at $50,000 after purchasing an additional 51 shares during the last quarter. Addison Advisors LLC grew its holdings in Garmin by 11.1% during the fourth quarter. Addison Advisors LLC now owns 522 shares of the scientific and technical instruments company's stock worth $108,000 after acquiring an additional 52 shares during the period. Finally, HB Wealth Management LLC grew its holdings in Garmin by 1.4% during the fourth quarter. HB Wealth Management LLC now owns 3,821 shares of the scientific and technical instruments company's stock worth $788,000 after acquiring an additional 53 shares during the period. 81.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Susan Lyman sold 2,829 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $215.51, for a total transaction of $609,677.79. Following the completion of the sale, the vice president now directly owns 8,432 shares in the company, valued at $1,817,180.32. This trade represents a 25.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Douglas G. Boessen sold 2,763 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $226.55, for a total transaction of $625,957.65. Following the transaction, the chief financial officer now directly owns 30,936 shares in the company, valued at $7,008,550.80. The trade was a 8.20% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,342 shares of company stock valued at $5,486,094. 15.38% of the stock is currently owned by company insiders.

Garmin Price Performance

NYSE GRMN traded down $2.87 on Wednesday, hitting $200.89. 720,555 shares of the company's stock were exchanged, compared to its average volume of 881,893. The firm's 50-day moving average price is $198.09 and its two-hundred day moving average price is $208.60. Garmin Ltd. has a fifty-two week low of $158.38 and a fifty-two week high of $246.50. The firm has a market cap of $38.68 billion, a price-to-earnings ratio of 27.48, a P/E/G ratio of 1.36 and a beta of 0.99.

Garmin (NYSE:GRMN - Get Free Report) last released its quarterly 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). Garmin had a return on equity of 19.31% and a net margin of 22.42%. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the company earned $1.42 EPS. The business's revenue was up 11.1% on a year-over-year basis. On average, research analysts predict that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Friday, March 13th. Garmin's dividend payout ratio (DPR) is currently 47.37%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on GRMN shares. Tigress Financial increased their price target on Garmin from $265.00 to $285.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, February 26th. Morgan Stanley raised their target price on Garmin from $159.00 to $172.00 and gave the stock an "underweight" rating in a research note on Thursday, May 1st. Barclays cut their target price on Garmin from $188.00 to $152.00 and set an "underweight" rating for the company in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. dropped their price objective on Garmin from $220.00 to $215.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $194.80.

Garmin 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.