Lifeworks Advisors LLC Purchases 3,119 Shares of Garmin Ltd. (NYSE:GRMN)

Lifeworks Advisors LLC grew its position in Garmin Ltd. (NYSE:GRMN - Free Report) by 15.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 23,288 shares of the scientific and technical instruments company's stock after acquiring an additional 3,119 shares during the period. Lifeworks Advisors LLC's holdings in Garmin were worth $5,057,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of GRMN. Aster Capital Management DIFC Ltd raised its position 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 during the last quarter. TFC Financial Management Inc. increased its position in shares of Garmin by 1,633.3% during the first quarter. TFC Financial Management Inc. now owns 156 shares of the scientific and technical instruments company's stock worth $34,000 after buying an additional 147 shares during the period. Wayfinding Financial LLC bought a new position in Garmin during the first quarter worth $34,000. Garde Capital Inc. acquired a new position in Garmin in the first quarter valued at $40,000. Finally, Olde Wealth Management LLC bought a new stake in Garmin during the first quarter valued at $43,000. Institutional investors and hedge funds own 81.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GRMN. JPMorgan Chase & Co. raised their target price on Garmin from $215.00 to $250.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Morgan Stanley lifted their price objective on shares of Garmin from $159.00 to $172.00 and gave the company an "underweight" rating in a research note on Thursday, May 1st. Finally, Barclays dropped 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. Two research 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. According to MarketBeat, Garmin presently has an average rating of "Hold" and an average target price of $214.75.

Garmin Stock Performance

Garmin stock traded up $3.86 during mid-day trading on Friday, reaching $235.57. The stock had a trading volume of 596,733 shares, compared to its average volume of 740,938. Garmin Ltd. has a fifty-two week low of $160.71 and a fifty-two week high of $246.50. The stock's 50-day simple moving average is $210.19 and its 200-day simple moving average is $208.45. The firm has a market capitalization of $45.36 billion, a PE ratio of 31.00, a price-to-earnings-growth ratio of 2.61 and a beta of 0.97.

Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.50 billion. Garmin had a return on equity of 19.21% and a net margin of 22.76%. The business's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.42 EPS. On average, research analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Monday, June 16th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.53%. Garmin's dividend payout ratio (DPR) is presently 47.37%.

Insider Activity at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 1,859 shares of Garmin stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $215.00, for a total transaction of $399,685.00. Following the transaction, the chief financial officer directly owned 29,146 shares of the company's stock, valued at $6,266,390. The trade was a 6.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $203.25, for a total transaction of $1,605,471.75. Following the transaction, 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 disclosure for this sale can be found here. 15.38% of the stock is owned by insiders.

About Garmin

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.