1,357 Shares in Garmin Ltd. (NYSE:GRMN) Bought by Foundations Investment Advisors LLC

Key Points

• Foundations Investment Advisors LLC acquired 1,357 shares of Garmin Ltd., valued at approximately $295,000, during the first quarter.
• Several institutional investors, including Norden Group LLC and LPL Financial LLC, have also increased their holdings in Garmin, highlighting growing interest in the stock.
• Garmin announced a quarterly dividend of $0.90, with an annualized dividend yield of 1.6%, scheduled to be paid on September 26th.

Foundations Investment Advisors LLC bought a new stake in Garmin Ltd. (NYSE:GRMN - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,357 shares of the scientific and technical instruments company's stock, valued at approximately $295,000.

Other large investors have also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd raised its holdings in shares of Garmin by 864.3% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company's stock valued at $28,000 after buying an additional 121 shares during the last quarter. TFC Financial Management Inc. increased its position in Garmin by 1,633.3% in the 1st quarter. TFC Financial Management Inc. now owns 156 shares of the scientific and technical instruments company's stock valued at $34,000 after acquiring an additional 147 shares during the period. Wayfinding Financial LLC purchased a new stake in Garmin during the 1st quarter valued at approximately $34,000. Garde Capital Inc. acquired a new stake in Garmin during the 1st quarter worth approximately $40,000. Finally, Olde Wealth Management LLC purchased a new position in shares of Garmin in the 1st quarter valued at approximately $43,000. 81.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GRMN. Barclays restated an "underweight" rating and set a $167.00 price target (up previously from $152.00) on shares of Garmin in a research note on Wednesday. JPMorgan Chase & Co. upped their price objective on shares of Garmin from $215.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Finally, Morgan Stanley lifted their target price on shares of Garmin from $172.00 to $186.00 and gave the company an "underweight" rating in a report on Thursday. Two research 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $222.00.

Garmin Stock Performance

NYSE:GRMN traded up $0.03 during trading hours on Friday, hitting $218.79. The company's stock had a trading volume of 1,324,517 shares, compared to its average volume of 906,307. The company has a market capitalization of $42.11 billion, a PE ratio of 26.98, a PEG ratio of 2.43 and a beta of 0.99. Garmin Ltd. has a 52-week low of $160.71 and a 52-week high of $246.50. The business's 50-day moving average is $212.65 and its two-hundred day moving average is $208.99.

Garmin (NYSE:GRMN - Get Free Report) last issued its earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.27. Garmin had a net margin of 23.21% and a return on equity of 20.00%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period in the prior year, the business posted $1.58 earnings per share. The firm's revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, analysts predict that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.6%. Garmin's payout ratio is currently 44.39%.

Insider Transactions at Garmin

In other Garmin news, CEO Clifton A. Pemble sold 7,899 shares of the 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 approximately $28,785,484.50. This represents a 5.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Douglas G. Boessen sold 1,859 shares of the company's stock in a transaction on Thursday, July 3rd. The shares were 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 owned 29,146 shares in the company, valued at $6,266,390. This represents a 6.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 19.54% of the company's stock.

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.