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Garmin Ltd. (NYSE:GRMN) Stock Position Lifted by Natixis Advisors LLC

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Natixis Advisors LLC boosted its stake in Garmin Ltd. (NYSE:GRMN - Free Report) by 76.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,294 shares of the scientific and technical instruments company's stock after buying an additional 24,880 shares during the quarter. Natixis Advisors LLC's holdings in Garmin were worth $12,440,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd raised its holdings in shares of Garmin by 864.3% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company's stock worth $28,000 after acquiring an additional 121 shares in the last quarter. TFC Financial Management Inc. grew its stake in Garmin by 1,633.3% in the first 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 in the last quarter. Wayfinding Financial LLC acquired a new position in Garmin in the 1st quarter worth about $34,000. Garde Capital Inc. purchased a new stake in shares of Garmin during the 1st quarter worth about $40,000. Finally, Olde Wealth Management LLC purchased a new stake in shares of Garmin during the 1st quarter worth about $43,000. Hedge funds and other institutional investors own 81.60% of the company's stock.

Insider Activity 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 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 owned 141,626 shares in the company, valued at approximately $28,785,484.50. This trade represents a 5.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Douglas G. Boessen sold 1,859 shares of the firm's stock in a transaction on Thursday, July 3rd. The stock was 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 owned 29,146 shares in the company, valued at $6,266,390. This represents a 6.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. 19.54% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on GRMN. Barclays reissued an "underweight" rating and issued a $167.00 price target (up previously from $152.00) on shares of Garmin in a research note on Wednesday. Morgan Stanley lifted their target price on shares of Garmin from $172.00 to $186.00 and gave the company an "underweight" rating in a research note on Thursday. Finally, JPMorgan Chase & Co. increased their price target on shares of Garmin from $215.00 to $250.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $222.00.

View Our Latest Report on Garmin

Garmin Stock Performance

GRMN opened at $218.79 on Monday. Garmin Ltd. has a twelve month low of $160.71 and a twelve month high of $246.50. The business has a 50 day moving average price of $212.65 and a 200 day moving average price of $208.95. The firm has a market cap of $42.11 billion, a P/E ratio of 26.98, a price-to-earnings-growth ratio of 2.43 and a beta of 0.99.

Garmin (NYSE:GRMN - Get Free Report) last posted its earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.90 by $0.27. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.68 billion. Garmin had a net margin of 23.21% and a return on equity of 20.00%. Garmin's revenue was up 20.4% compared to the same quarter last year. During the same period last year, the business posted $1.58 EPS. As a group, analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.6%. Garmin's payout ratio is 44.39%.

Garmin Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding GRMN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Garmin Ltd. (NYSE:GRMN - Free Report).

Institutional Ownership by Quarter for Garmin (NYSE:GRMN)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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