Garmin Ltd. (NYSE:GRMN) Holdings Lowered by Tealwood Asset Management Inc.

Tealwood Asset Management Inc. trimmed its stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 24.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,589 shares of the scientific and technical instruments company's stock after selling 3,816 shares during the period. Garmin comprises about 1.2% of Tealwood Asset Management Inc.'s holdings, making the stock its 23rd biggest holding. Tealwood Asset Management Inc.'s holdings in Garmin were worth $2,516,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Larson Financial Group LLC lifted its stake in Garmin by 26.8% in the 4th quarter. Larson Financial Group LLC now owns 241 shares of the scientific and technical instruments company's stock worth $50,000 after acquiring an additional 51 shares in the last quarter. Addison Advisors LLC lifted its stake in Garmin by 11.1% in the 4th 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 in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Garmin by 0.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 13,185 shares of the scientific and technical instruments company's stock worth $2,720,000 after acquiring an additional 55 shares in the last quarter. Lifeworks Advisors LLC increased its position in Garmin by 0.3% in the 4th quarter. Lifeworks Advisors LLC now owns 20,169 shares of the scientific and technical instruments company's stock worth $4,160,000 after purchasing an additional 58 shares during the last quarter. Finally, Principal Street Partners LLC increased its position in Garmin by 1.8% in the 4th quarter. Principal Street Partners LLC now owns 3,201 shares of the scientific and technical instruments company's stock worth $660,000 after purchasing an additional 58 shares during the last quarter. 81.60% of the stock is owned by hedge funds and other institutional investors.

Garmin Stock Up 1.0%

Shares of NYSE:GRMN opened at $207.50 on Friday. The business has a 50 day moving average price of $195.40 and a 200 day moving average price of $208.05. Garmin Ltd. has a twelve month low of $158.38 and a twelve month high of $246.50. The company has a market cap of $39.95 billion, a price-to-earnings ratio of 28.39, a PEG ratio of 1.36 and a beta of 0.98.

Garmin (NYSE:GRMN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 EPS 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 the consensus estimate of $1.50 billion. During the same quarter in the prior year, the business posted $1.42 EPS. Garmin's revenue was up 11.1% compared to the same quarter last year. Analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 16th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.73%. Garmin's dividend payout ratio is currently 47.37%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. JPMorgan Chase & Co. dropped their target price on Garmin from $220.00 to $215.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Barclays dropped their target price on Garmin from $188.00 to $152.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 30th. 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. Finally, Tigress Financial increased their target price on Garmin from $265.00 to $285.00 and gave the company a "strong-buy" rating in a research note on Wednesday, February 26th. Two investment 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 stock. According to MarketBeat.com, Garmin has an average rating of "Hold" and a consensus target price of $206.00.

Insiders Place Their Bets

In related news, VP Susan Lyman sold 2,829 shares of the firm's stock in a transaction that occurred on 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 transaction, the vice president now owns 8,432 shares in the company, valued at $1,817,180.32. This trade represents a 25.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 15.38% 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.

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