Lbp Am Sa Purchases 1,811 Shares of Garmin Ltd. (NYSE:GRMN)

LBP AM SA raised its holdings in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 13.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 15,108 shares of the scientific and technical instruments company's stock after acquiring an additional 1,811 shares during the period. LBP AM SA's holdings in Garmin were worth $3,280,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quantbot Technologies LP acquired a new position in shares of Garmin in the 4th quarter valued at $127,000. Concurrent Investment Advisors LLC grew its holdings in shares of Garmin by 23.4% in the 1st quarter. Concurrent Investment Advisors LLC now owns 2,304 shares of the scientific and technical instruments company's stock valued at $500,000 after buying an additional 437 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Garmin by 46.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 89,715 shares of the scientific and technical instruments company's stock valued at $19,480,000 after buying an additional 28,543 shares during the period. Korea Investment CORP grew its holdings in shares of Garmin by 7.6% in the 4th quarter. Korea Investment CORP now owns 73,265 shares of the scientific and technical instruments company's stock valued at $15,112,000 after buying an additional 5,200 shares during the period. Finally, American Century Companies Inc. boosted its stake in Garmin by 4.9% in the 4th quarter. American Century Companies Inc. now owns 60,280 shares of the scientific and technical instruments company's stock worth $12,433,000 after purchasing an additional 2,841 shares during the period. Institutional investors and hedge funds own 81.60% of the company's stock.

Garmin Price Performance

NYSE:GRMN traded down $2.05 on Friday, hitting $215.75. 652,142 shares of the company's stock were exchanged, compared to its average volume of 908,400. The firm has a 50-day moving average price of $204.04 and a 200-day moving average price of $207.19. Garmin Ltd. has a 52 week low of $160.71 and a 52 week high of $246.50. The company has a market cap of $41.54 billion, a P/E ratio of 28.39, a price-to-earnings-growth ratio of 2.44 and a beta of 0.97.

Garmin (NYSE:GRMN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.01). Garmin had a return on equity of 19.21% and a net margin of 22.76%. The business 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 quarterly revenue was up 11.1% compared to the same quarter last year. On average, research analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Monday, June 16th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.67%. Garmin's dividend payout ratio (DPR) is presently 47.37%.

Wall Street Analyst Weigh In

GRMN has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced 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. Morgan Stanley upped their target price on shares of Garmin from $159.00 to $172.00 and gave the stock an "underweight" rating in a research note on Thursday, May 1st. Finally, Barclays reduced 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. Two 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 company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $206.00.

Insider Activity

In other news, CEO Clifton A. Pemble sold 7,899 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $203.25, for a total value of $1,605,471.75. Following the sale, the chief executive officer directly owned 141,626 shares of the company's stock, valued at approximately $28,785,484.50. This represents a 5.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Douglas G. Boessen sold 1,859 shares of the company's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $215.00, for a total transaction of $399,685.00. Following the completion of the sale, the chief financial officer directly owned 29,146 shares in the company, valued at approximately $6,266,390. The trade was a 6.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.