Garmin Ltd. (NYSE:GRMN) Shares Sold by Narwhal Capital Management

Narwhal Capital Management lessened its holdings in Garmin Ltd. (NYSE:GRMN - Free Report) by 42.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,546 shares of the scientific and technical instruments company's stock after selling 7,901 shares during the quarter. Narwhal Capital Management's holdings in Garmin were worth $2,290,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GRMN. Aster Capital Management DIFC Ltd lifted its position 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 acquiring an additional 121 shares during the last quarter. Garde Capital Inc. acquired a new stake in shares of Garmin during the first quarter worth about $40,000. Venturi Wealth Management LLC lifted its holdings in shares of Garmin by 67.7% in the 4th quarter. Venturi Wealth Management LLC now owns 208 shares of the scientific and technical instruments company's stock valued at $43,000 after purchasing an additional 84 shares during the last quarter. Investment Management Corp VA ADV acquired a new stake in shares of Garmin in the 4th quarter valued at about $46,000. Finally, Measured Risk Portfolios Inc. acquired a new stake in shares of Garmin in the 4th quarter valued at about $47,000. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Garmin Price Performance

Shares of NYSE:GRMN traded down $1.54 during trading on Wednesday, reaching $203.54. The company had a trading volume of 650,323 shares, compared to its average volume of 901,544. Garmin Ltd. has a fifty-two week low of $158.90 and a fifty-two week high of $246.50. The stock's fifty day moving average price is $199.41 and its 200 day moving average price is $207.21. The firm has a market capitalization of $39.19 billion, a price-to-earnings ratio of 26.78, a price-to-earnings-growth ratio of 2.30 and a beta of 0.98.

Garmin (NYSE:GRMN - Get Free Report) last posted 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). The firm had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.50 billion. Garmin had a net margin of 22.76% and a return on equity of 19.21%. The business's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business earned $1.42 earnings per share. On average, equities analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 16th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.77%. Garmin's dividend payout ratio is currently 47.37%.

Insider Buying and Selling

In other Garmin 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 sale, the chief executive officer now owns 141,626 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. 15.38% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Barclays cut 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. JPMorgan Chase & Co. reduced their price target on shares of Garmin from $220.00 to $215.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Tigress Financial increased their price target on shares of Garmin from $265.00 to $285.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, February 26th. Finally, Morgan Stanley lifted their price objective 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. Two research 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's stock. According to MarketBeat.com, Garmin presently has a consensus rating of "Hold" and a consensus price target of $206.00.

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.