Garmin Ltd. (NYSE:GRMN) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC lowered its stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 2.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 131,133 shares of the scientific and technical instruments company's stock after selling 3,481 shares during the period. Garmin makes up approximately 1.0% of Moran Wealth Management LLC's portfolio, making the stock its 18th biggest holding. Moran Wealth Management LLC owned approximately 0.07% of Garmin worth $28,473,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GRMN. Vanguard Group Inc. increased its position in Garmin by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 18,067,708 shares of the scientific and technical instruments company's stock worth $3,726,645,000 after purchasing an additional 215,344 shares in the last quarter. Geode Capital Management LLC grew its stake in Garmin by 1.7% during the fourth 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. Norges Bank acquired a new stake in shares of Garmin in the fourth quarter worth $396,184,000. Invesco Ltd. raised its stake in shares of Garmin by 9.6% in the 4th quarter. Invesco Ltd. now owns 1,708,886 shares of the scientific and technical instruments company's stock valued at $352,475,000 after acquiring an additional 149,210 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of 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 acquiring an additional 286,765 shares in the last quarter. Institutional investors and hedge funds own 81.60% of the company's stock.

Garmin Trading Up 1.7%

NYSE:GRMN traded up $3.48 on Tuesday, reaching $205.22. The stock had a trading volume of 919,085 shares, compared to its average volume of 972,858. The company has a 50-day moving average of $198.87 and a 200 day moving average of $207.25. The stock has a market cap of $39.51 billion, a P/E ratio of 27.00, a price-to-earnings-growth ratio of 2.24 and a beta of 0.98. Garmin Ltd. has a 12-month low of $158.90 and a 12-month high of $246.50.

Garmin (NYSE:GRMN - Get Free Report) last issued its quarterly 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 net margin of 22.76% and a return on equity of 19.21%. The business had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.50 billion. During the same period in the prior year, the company posted $1.42 EPS. The company's revenue for the quarter was up 11.1% on a year-over-year basis. On average, equities analysts predict that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 16th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.75%. Garmin's dividend payout ratio (DPR) is presently 47.37%.

Insider Activity at Garmin

In other news, CEO Clifton A. Pemble sold 7,899 shares of Garmin stock in a transaction that occurred 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 transaction, the chief executive officer now owns 141,626 shares in the company, valued at approximately $28,785,484.50. This trade represents a 5.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Tigress Financial upped their price target on shares of Garmin from $265.00 to $285.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, February 26th. Morgan Stanley upped their target price on Garmin from $159.00 to $172.00 and gave the stock an "underweight" rating in a research report on Thursday, May 1st. Barclays dropped their target price on Garmin from $188.00 to $152.00 and set an "underweight" rating on the stock in a report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. reduced their price target on Garmin from $220.00 to $215.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $206.00.

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.