Strategic Global Advisors LLC Has $7.08 Million Holdings in Garmin Ltd. (NYSE:GRMN)

Strategic Global Advisors LLC raised its holdings in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 277.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,336 shares of the scientific and technical instruments company's stock after acquiring an additional 25,240 shares during the quarter. Garmin makes up approximately 1.3% of Strategic Global Advisors LLC's holdings, making the stock its 22nd biggest position. Strategic Global Advisors LLC's holdings in Garmin were worth $7,082,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Siemens Fonds Invest GmbH grew its stake in shares of Garmin by 45.7% during the 4th quarter. Siemens Fonds Invest GmbH now owns 23,640 shares of the scientific and technical instruments company's stock worth $4,876,000 after acquiring an additional 7,414 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Garmin by 18.8% in the fourth quarter. Royal Bank of Canada now owns 301,818 shares of the scientific and technical instruments company's stock valued at $62,254,000 after buying an additional 47,723 shares in the last quarter. Rafferty Asset Management LLC grew its stake in shares of Garmin by 12.8% in the fourth quarter. Rafferty Asset Management LLC now owns 14,281 shares of the scientific and technical instruments company's stock valued at $2,946,000 after buying an additional 1,619 shares in the last quarter. Raiffeisen Bank International AG bought a new position in shares of Garmin in the fourth quarter valued at $2,627,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of Garmin in the fourth quarter valued at $18,974,000. 81.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Transactions at Garmin

In other news, VP Susan Lyman sold 2,829 shares of Garmin stock in a transaction 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 sale, the vice president now owns 8,432 shares of the company's stock, valued at approximately $1,817,180.32. This trade represents a 25.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Clifton A. Pemble sold 7,202 shares of the business's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $227.14, for a total value of $1,635,862.28. Following the completion of the transaction, the chief executive officer now directly owns 149,525 shares of the company's stock, valued at approximately $33,963,108.50. This trade represents a 4.60% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,342 shares of company stock valued at $5,486,094. 15.38% of the stock is currently owned by corporate insiders.

Garmin Price Performance

GRMN stock traded down $2.87 during midday trading on Wednesday, reaching $200.89. 720,555 shares of the company were exchanged, compared to its average volume of 881,893. The business has a 50-day moving average price of $198.09 and a two-hundred day moving average price of $208.60. Garmin Ltd. has a one year low of $158.38 and a one year high of $246.50. The firm has a market capitalization of $38.68 billion, a price-to-earnings ratio of 27.48, a price-to-earnings-growth ratio of 1.36 and a beta of 0.99.

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 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 company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the firm earned $1.42 earnings per share. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date is Friday, March 13th. Garmin's dividend payout ratio is currently 47.37%.

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.