Garmin Ltd. (NYSE:GRMN) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP boosted its position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 10.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,281 shares of the scientific and technical instruments company's stock after acquiring an additional 1,669 shares during the period. Wellington Management Group LLP's holdings in Garmin were worth $3,771,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of GRMN. Golden State Wealth Management LLC acquired a new stake in shares of Garmin in the 4th quarter worth $26,000. Aster Capital Management DIFC Ltd raised its stake in 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. SOA Wealth Advisors LLC. acquired a new stake in Garmin in the fourth quarter worth about $37,000. Kentucky Trust Co acquired a new stake in Garmin in the 4th quarter worth approximately $41,000. Finally, Venturi Wealth Management LLC grew its position in Garmin by 67.7% during the 4th quarter. Venturi Wealth Management LLC now owns 208 shares of the scientific and technical instruments company's stock worth $43,000 after purchasing an additional 84 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GRMN has been the subject of several research reports. JPMorgan Chase & Co. lowered their price objective 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. Morgan Stanley lifted 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. Barclays dropped their price target on Garmin from $188.00 to $152.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 30th. Finally, Tigress Financial raised their price objective on Garmin from $265.00 to $285.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Garmin has an average rating of "Hold" and a consensus price target of $206.00.

Insider Transactions at Garmin

In related news, VP Susan Lyman sold 2,829 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $215.51, for a total value of $609,677.79. Following the completion of the transaction, the vice president now directly owns 8,432 shares in the company, valued at $1,817,180.32. The trade was a 25.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 15.38% of the company's stock.

Garmin Stock Performance

NYSE GRMN traded up $2.02 on Friday, reaching $207.50. 750,745 shares of the company's stock traded hands, compared to its average volume of 883,542. 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 $39.95 billion, a price-to-earnings ratio of 28.39, a P/E/G ratio of 1.36 and a beta of 0.99. The stock has a 50 day moving average price of $195.60 and a 200-day moving average price of $208.05.

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). Garmin had a net margin of 22.42% and a return on equity of 19.31%. The company had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.50 billion. During the same quarter in the previous year, the business posted $1.42 EPS. The business's quarterly revenue was up 11.1% on a year-over-year basis. As a group, equities research analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Announces Dividend

The business 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 annualized dividend and a yield of 1.73%. Garmin's dividend payout ratio is presently 47.37%.

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.