KLP Kapitalforvaltning AS Grows Stock Position in Garmin Ltd. (NYSE:GRMN)

KLP Kapitalforvaltning AS boosted its position in Garmin Ltd. (NYSE:GRMN - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 110,874 shares of the scientific and technical instruments company's stock after acquiring an additional 2,500 shares during the period. KLP Kapitalforvaltning AS owned 0.06% of Garmin worth $24,081,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Principal Street Partners LLC boosted its holdings in Garmin by 1.8% in the fourth quarter. Principal Street Partners LLC now owns 3,201 shares of the scientific and technical instruments company's stock worth $660,000 after acquiring an additional 58 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Garmin by 2.7% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,251 shares of the scientific and technical instruments company's stock worth $489,000 after acquiring an additional 59 shares in the last quarter. OneAscent Financial Services LLC boosted its holdings in Garmin by 3.7% in the fourth quarter. OneAscent Financial Services LLC now owns 1,753 shares of the scientific and technical instruments company's stock worth $361,000 after acquiring an additional 63 shares in the last quarter. Moody National Bank Trust Division boosted its holdings in Garmin by 2.4% in the first quarter. Moody National Bank Trust Division now owns 3,015 shares of the scientific and technical instruments company's stock worth $655,000 after acquiring an additional 72 shares in the last quarter. Finally, FSM Wealth Advisors LLC boosted its holdings in Garmin by 5.1% in the first quarter. FSM Wealth Advisors LLC now owns 1,497 shares of the scientific and technical instruments company's stock worth $325,000 after acquiring an additional 72 shares in the last quarter. Institutional investors own 81.60% of the company's stock.

Garmin Stock Performance

Shares of Garmin stock traded up $3.86 on Friday, hitting $235.57. The company had a trading volume of 596,733 shares, compared to its average volume of 740,938. The stock has a market capitalization of $45.36 billion, a price-to-earnings ratio of 31.00, a P/E/G ratio of 2.65 and a beta of 0.97. Garmin Ltd. has a 1 year low of $160.71 and a 1 year high of $246.50. The stock has a 50 day moving average of $210.19 and a 200-day moving average of $208.43.

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

Garmin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Monday, June 16th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.53%. Garmin's payout ratio is 47.37%.

Insider Buying and Selling

In other Garmin news, 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 value of $399,685.00. Following the completion of the sale, the chief financial officer directly owned 29,146 shares of the company's stock, valued at $6,266,390. This trade represents a 6.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 directly owned 141,626 shares of the company's stock, valued at $28,785,484.50. This represents a 5.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 15.38% of the company's stock.

Analyst Ratings Changes

GRMN has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price target on Garmin from $215.00 to $250.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Barclays cut their price target on Garmin from $188.00 to $152.00 and set an "underweight" rating on the stock in a report on Wednesday, April 30th. Finally, Morgan Stanley increased their price objective on Garmin from $159.00 to $172.00 and gave the stock an "underweight" rating in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Garmin currently has an average rating of "Hold" and an average target price of $214.75.

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.