Achmea Investment Management B.V. Cuts Stock Holdings in Garmin Ltd. (NYSE:GRMN)

Achmea Investment Management B.V. cut its position in Garmin Ltd. (NYSE:GRMN - Free Report) by 36.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,850 shares of the scientific and technical instruments company's stock after selling 15,597 shares during the period. Achmea Investment Management B.V.'s holdings in Garmin were worth $5,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Aster Capital Management DIFC Ltd increased its stake in Garmin by 864.3% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company's stock worth $28,000 after buying an additional 121 shares in the last quarter. TFC Financial Management Inc. raised its stake in Garmin by 1,633.3% during the 1st quarter. TFC Financial Management Inc. now owns 156 shares of the scientific and technical instruments company's stock valued at $34,000 after purchasing an additional 147 shares during the period. Garde Capital Inc. bought a new stake in Garmin during the 1st quarter valued at approximately $40,000. Investment Management Corp VA ADV purchased a new position in Garmin in the 4th quarter worth approximately $46,000. Finally, Measured Risk Portfolios Inc. bought a new position in Garmin in the 4th quarter worth approximately $47,000. 81.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Morgan Stanley boosted their target price on shares of Garmin from $159.00 to $172.00 and gave the stock an "underweight" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. decreased their price target on shares of Garmin from $220.00 to $215.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Finally, Barclays cut their price objective on Garmin from $188.00 to $152.00 and set an "underweight" rating for the company 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. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $206.00.

Insiders Place Their Bets

In other news, CEO Clifton A. Pemble sold 7,899 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $203.25, for a total transaction of $1,605,471.75. Following the completion of the sale, the chief executive officer directly owned 141,626 shares of the company's stock, valued at approximately $28,785,484.50. The trade was a 5.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 19.54% of the stock is currently owned by insiders.

Garmin Trading Up 1.1%

NYSE:GRMN traded up $2.38 during midday trading on Tuesday, hitting $211.10. 999,762 shares of the company traded hands, compared to its average volume of 905,441. The firm's fifty day moving average is $200.50 and its 200-day moving average is $206.84. The firm has a market capitalization of $40.64 billion, a P/E ratio of 27.78, a P/E/G ratio of 2.34 and a beta of 0.98. Garmin Ltd. has a 12-month low of $158.90 and a 12-month high of $246.50.

Garmin (NYSE:GRMN - Get Free Report) last released its earnings results on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.01). The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.50 billion. Garmin had a return on equity of 19.21% and a net margin of 22.76%. Garmin's revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.42 EPS. On average, research analysts expect that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Monday, June 16th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.71%. Garmin's dividend payout ratio (DPR) 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.