Janney Montgomery Scott LLC Has $25.32 Million Position in Garmin Ltd. (NYSE:GRMN)

Janney Montgomery Scott LLC lessened its stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 6.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 116,630 shares of the scientific and technical instruments company's stock after selling 7,489 shares during the quarter. Janney Montgomery Scott LLC owned about 0.06% of Garmin worth $25,324,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GRMN. Aster Capital Management DIFC Ltd boosted its stake in shares of Garmin by 864.3% during 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 purchasing an additional 121 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Garmin by 67.7% during the 4th quarter. Venturi Wealth Management LLC now owns 208 shares of the scientific and technical instruments company's stock worth $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 fourth quarter worth approximately $46,000. Measured Risk Portfolios Inc. acquired a new stake in shares of Garmin in the fourth quarter worth approximately $47,000. Finally, Larson Financial Group LLC boosted its position in shares of Garmin by 26.8% in the fourth quarter. Larson Financial Group LLC now owns 241 shares of the scientific and technical instruments company's stock worth $50,000 after acquiring an additional 51 shares during the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Garmin

In related news, CEO Clifton A. Pemble sold 7,899 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 141,626 shares in the company, valued at approximately $28,785,484.50. This represents a 5.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 15.38% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GRMN shares. Tigress Financial raised their target price on shares of Garmin from $265.00 to $285.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, February 26th. Barclays decreased their target price on shares of Garmin from $188.00 to $152.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 30th. Morgan Stanley raised their target price on shares of Garmin from $159.00 to $172.00 and gave the stock an "underweight" rating in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. dropped their price objective 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. Two 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 stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $206.00.

Garmin Trading Up 0.8%

GRMN stock traded up $1.58 during trading on Friday, reaching $199.88. The stock had a trading volume of 2,155,362 shares, compared to its average volume of 900,452. The company has a market capitalization of $38.49 billion, a P/E ratio of 26.30, a PEG ratio of 2.22 and a beta of 0.98. The firm has a fifty day moving average price of $198.67 and a 200 day moving average price of $207.49. Garmin Ltd. has a 1-year low of $158.90 and a 1-year 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 for the quarter, missing the consensus estimate of $1.62 by ($0.01). Garmin had a net margin of 22.76% and a return on equity of 19.21%. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the firm earned $1.42 EPS. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. Sell-side analysts predict that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 16th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.80%. Garmin's payout ratio is 47.37%.

Garmin Company 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.