Jefferies Financial Group Inc. acquired a new position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 17,040 shares of the scientific and technical instruments company's stock, valued at approximately $3,700,000.
Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in shares of Garmin by 25,047.9% in the 1st quarter. GAMMA Investing LLC now owns 885,456 shares of the scientific and technical instruments company's stock worth $192,259,000 after purchasing an additional 881,935 shares during the period. Congress Asset Management Co. lifted its position in shares of Garmin by 673.4% in the 1st quarter. Congress Asset Management Co. now owns 441,318 shares of the scientific and technical instruments company's stock worth $95,823,000 after purchasing an additional 384,258 shares during the period. Northern Trust Corp increased its holdings in shares of Garmin by 20.2% in the 4th quarter. Northern Trust Corp now owns 1,708,495 shares of the scientific and technical instruments company's stock valued at $352,394,000 after acquiring an additional 286,765 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Garmin by 164.7% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,145 shares of the scientific and technical instruments company's stock valued at $82,121,000 after acquiring an additional 247,726 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Garmin in the 4th quarter valued at $39,748,000. 81.60% of the stock is currently owned by hedge funds and other institutional investors.
Garmin Price Performance
Shares of GRMN stock opened at $218.79 on Friday. Garmin Ltd. has a 1-year low of $160.71 and a 1-year high of $246.50. The stock's fifty day moving average price is $212.65 and its 200 day moving average price is $208.99. The company has a market cap of $42.11 billion, a price-to-earnings ratio of 26.98, a price-to-earnings-growth ratio of 2.41 and a beta of 0.99.
Garmin (NYSE:GRMN - Get Free Report) last announced its earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.27. Garmin had a return on equity of 20.00% and a net margin of 23.21%. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the business earned $1.58 EPS. The firm's revenue for the quarter was up 20.4% on a year-over-year basis. As a group, equities research analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current year.
Garmin Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders 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 presently 47.37%.
Analysts Set New Price Targets
GRMN has been the topic of a number of analyst reports. Barclays reiterated an "underweight" rating and issued a $167.00 price target (up from $152.00) on shares of Garmin in a report on Wednesday. JPMorgan Chase & Co. lifted their price target on Garmin from $215.00 to $250.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Finally, Morgan Stanley lifted their price target on Garmin from $172.00 to $186.00 and gave the company an "underweight" rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $222.00.
Get Our Latest Report on Garmin
Insider Activity
In other Garmin news, CFO Douglas G. Boessen sold 1,859 shares of the business's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $215.00, for a total transaction of $399,685.00. Following the sale, the chief financial officer owned 29,146 shares in the company, valued at approximately $6,266,390. The trade was a 6.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Clifton A. Pemble sold 7,899 shares of the business's stock in a transaction dated 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. The trade was a 5.28% decrease in their position. The disclosure for this sale can be found here. 15.38% of the stock is currently owned by insiders.
Garmin Profile
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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.
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