Garmin Ltd. (NYSE:GRMN) Shares Purchased by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC boosted its stake in Garmin Ltd. (NYSE:GRMN - Free Report) by 18.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,559 shares of the scientific and technical instruments company's stock after buying an additional 1,347 shares during the period. Kestra Private Wealth Services LLC's holdings in Garmin were worth $1,858,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in GRMN. Quantbot Technologies LP bought a new position in Garmin during the fourth quarter valued at about $127,000. Concurrent Investment Advisors LLC boosted its stake in Garmin by 23.4% during the first 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 in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position 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 purchasing an additional 28,543 shares during the period. Golden State Wealth Management LLC boosted its position in shares of Garmin by 255.2% in the 1st quarter. Golden State Wealth Management LLC now owns 444 shares of the scientific and technical instruments company's stock valued at $96,000 after purchasing an additional 319 shares during the period. Finally, Korea Investment CORP boosted its position 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 purchasing an additional 5,200 shares during the period. 81.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Garmin

In other news, CEO Clifton A. Pemble sold 7,899 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $203.25, for a total value of $1,605,471.75. Following the completion of the transaction, the chief executive officer directly owned 141,626 shares of the company's stock, valued at $28,785,484.50. This trade represents a 5.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Douglas G. Boessen sold 1,859 shares of Garmin 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 sale, the chief financial officer directly owned 29,146 shares of the company's stock, valued at $6,266,390. This represents a 6.00% decrease in their position. The disclosure for this sale can be found here. 19.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. upped their price target on Garmin from $215.00 to $250.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Morgan Stanley upped their price target on Garmin from $159.00 to $172.00 and gave the company an "underweight" rating in a research report on Thursday, May 1st. Finally, Barclays lowered their price target on Garmin from $188.00 to $152.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $214.75.

Garmin Trading Up 0.7%

NYSE:GRMN opened at $227.80 on Wednesday. The stock has a market cap of $43.86 billion, a P/E ratio of 29.97, a PEG ratio of 2.52 and a beta of 0.97. The stock has a 50 day simple moving average of $207.24 and a 200 day simple moving average of $207.65. Garmin Ltd. has a 1-year low of $160.71 and a 1-year high of $246.50.

Garmin (NYSE:GRMN - Get Free Report) last posted its quarterly earnings results 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). The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.50 billion. Garmin had a return on equity of 19.21% and a net margin of 22.76%. Garmin's quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm posted $1.42 EPS. As a group, sell-side analysts forecast that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Monday, June 16th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.58%. Garmin's dividend payout ratio (DPR) is 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.

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