Mirae Asset Global Investments Co. Ltd. Has $3.44 Million Holdings in Garmin Ltd. (NYSE:GRMN)

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 19.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,085 shares of the scientific and technical instruments company's stock after purchasing an additional 2,611 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Garmin were worth $3,437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new position in shares of Garmin in the fourth quarter valued at approximately $127,000. Wealth Enhancement Advisory Services LLC raised its stake in Garmin by 46.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 89,715 shares of the scientific and technical instruments company's stock valued at $19,480,000 after purchasing an additional 28,543 shares during the last quarter. US Bancorp DE lifted its holdings in Garmin by 14.4% in the 4th quarter. US Bancorp DE now owns 8,521 shares of the scientific and technical instruments company's stock valued at $1,758,000 after purchasing an additional 1,074 shares in the last quarter. Korea Investment CORP lifted its holdings in Garmin by 7.6% in the 4th quarter. Korea Investment CORP now owns 73,265 shares of the scientific and technical instruments company's stock valued at $15,112,000 after purchasing an additional 5,200 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in Garmin by 4.9% during the fourth quarter. American Century Companies Inc. now owns 60,280 shares of the scientific and technical instruments company's stock worth $12,433,000 after acquiring an additional 2,841 shares during the last quarter. 81.60% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Garmin

In other Garmin news, CEO Clifton A. Pemble sold 7,899 shares of the stock in a transaction on 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 transaction, the chief executive officer directly owned 141,626 shares of the company's stock, valued at approximately $28,785,484.50. This trade represents a 5.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 15.38% of the company's stock.

Garmin Price Performance

GRMN stock traded up $0.66 during trading on Friday, reaching $214.05. 496,760 shares of the stock traded hands, compared to its average volume of 905,923. Garmin Ltd. has a 52-week low of $160.09 and a 52-week high of $246.50. The business's 50 day moving average price is $201.88 and its 200-day moving average price is $206.93. The firm has a market capitalization of $41.21 billion, a PE ratio of 28.16, a P/E/G ratio of 2.41 and a beta of 0.97.

Garmin (NYSE:GRMN - Get Free Report) last posted its earnings results on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 EPS for the quarter, missing analysts' consensus estimates of $1.62 by ($0.01). Garmin had a return on equity of 19.21% and a net margin of 22.76%. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the firm posted $1.42 earnings per share. The company's revenue for the quarter was up 11.1% on a year-over-year basis. On average, equities research analysts predict that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Monday, June 16th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.68%. Garmin's dividend payout ratio (DPR) is presently 47.37%.

Analyst Ratings Changes

Several equities research analysts have issued reports on GRMN shares. Barclays cut their target price on Garmin from $188.00 to $152.00 and set an "underweight" rating for the company in a research note on Wednesday, April 30th. JPMorgan Chase & Co. decreased their price target on shares of Garmin from $220.00 to $215.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Finally, Morgan Stanley boosted their price objective on Garmin from $159.00 to $172.00 and gave the stock an "underweight" rating in a research report on Thursday, May 1st. Two equities research 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 company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $206.00.

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.