Garmin Ltd. (NYSE:GRMN) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp raised its position in Garmin Ltd. (NYSE:GRMN - Free Report) by 12.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 65,725 shares of the scientific and technical instruments company's stock after acquiring an additional 7,412 shares during the quarter. Mackenzie Financial Corp's holdings in Garmin were worth $14,271,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GRMN. Geode Capital Management LLC boosted its holdings in Garmin by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 4,438,796 shares of the scientific and technical instruments company's stock worth $913,544,000 after buying an additional 75,332 shares during the period. Invesco Ltd. grew its position in shares of Garmin by 9.6% during the fourth quarter. Invesco Ltd. now owns 1,708,886 shares of the scientific and technical instruments company's stock worth $352,475,000 after purchasing an additional 149,210 shares in the last quarter. Northern Trust Corp raised its stake in Garmin by 20.2% during 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 purchasing an additional 286,765 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Garmin by 15.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 999,096 shares of the scientific and technical instruments company's stock valued at $206,074,000 after buying an additional 135,135 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Garmin by 25,047.9% during the first quarter. GAMMA Investing LLC now owns 885,456 shares of the scientific and technical instruments company's stock valued at $192,259,000 after buying an additional 881,935 shares during the last quarter. Institutional investors own 81.60% of the company's stock.

Garmin Trading Up 0.0%

Shares of NYSE:GRMN traded up $0.03 during trading on Friday, reaching $218.79. The company's stock had a trading volume of 1,324,517 shares, compared to its average volume of 840,080. The stock has a market capitalization of $42.11 billion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 2.41 and a beta of 0.99. The firm's 50 day simple moving average is $212.28 and its two-hundred day simple moving average is $208.97. Garmin Ltd. has a 12 month low of $160.71 and a 12 month high of $246.50.

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

Garmin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.6%. Garmin's payout ratio is 47.37%.

Insider Buying and Selling

In related news, CEO Clifton A. Pemble sold 7,899 shares of Garmin 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 completion of the sale, the chief executive officer owned 141,626 shares of the company's stock, valued at $28,785,484.50. The trade was a 5.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Douglas G. Boessen sold 1,859 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer owned 29,146 shares in the company, valued at approximately $6,266,390. This trade represents a 6.00% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.38% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on GRMN shares. JPMorgan Chase & Co. raised their target price on shares of Garmin from $215.00 to $250.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Barclays reissued an "underweight" rating and set a $167.00 price target (up from $152.00) on shares of Garmin in a research note on Wednesday. Finally, Morgan Stanley upped their price objective on Garmin from $172.00 to $186.00 and gave the stock an "underweight" rating in a report on Thursday. Two 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, Garmin presently has an average rating of "Hold" and an average price target of $222.00.

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.