Nilsine Partners LLC Makes New Investment in Garmin Ltd. (NYSE:GRMN)

Nilsine Partners LLC bought a new stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 7,389 shares of the scientific and technical instruments company's stock, valued at approximately $1,604,000.

Other institutional investors have also added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in Garmin during the 4th quarter valued at $127,000. Principal Securities Inc. boosted its stake in shares of Garmin by 23.0% in the 4th quarter. Principal Securities Inc. now owns 1,781 shares of the scientific and technical instruments company's stock worth $367,000 after buying an additional 333 shares during the last quarter. US Bancorp DE boosted its stake in shares of 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 worth $1,758,000 after buying an additional 1,074 shares during the last quarter. Korea Investment CORP boosted its stake in shares of 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 worth $15,112,000 after buying an additional 5,200 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in shares of Garmin by 107.1% in the 4th quarter. Allworth Financial LP now owns 1,015 shares of the scientific and technical instruments company's stock worth $219,000 after buying an additional 525 shares during the last quarter. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Garmin

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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 15.38% of the company's stock.

Wall Street Analyst Weigh In

GRMN has been the topic of a number of recent research reports. JPMorgan Chase & Co. decreased their target price on Garmin from $220.00 to $215.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Tigress Financial raised their target price on Garmin from $265.00 to $285.00 and gave the stock a "strong-buy" rating in a report on Wednesday, February 26th. Barclays decreased 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, Morgan Stanley raised their target price on Garmin from $159.00 to $172.00 and gave the stock an "underweight" rating in a 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. Based on data from MarketBeat.com, Garmin currently has a consensus rating of "Hold" and an average target price of $206.00.

Garmin Stock Up 0.8%

NYSE:GRMN traded up $1.58 on Friday, reaching $199.88. 2,155,362 shares of the company's stock traded hands, compared to its average volume of 900,452. The stock has a 50-day simple moving average of $198.67 and a 200-day simple moving average of $207.49. The firm has a market cap of $38.49 billion, a PE ratio of 26.30, a P/E/G ratio of 2.22 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 earnings results on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the firm posted $1.42 earnings per share. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, equities analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 16th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.80%. Garmin's dividend payout ratio (DPR) is 47.37%.

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.