Nisa Investment Advisors LLC Has $8.60 Million Stock Position in Garmin Ltd. (NYSE:GRMN)

Nisa Investment Advisors LLC cut its stake in Garmin Ltd. (NYSE:GRMN - Free Report) by 5.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,586 shares of the scientific and technical instruments company's stock after selling 2,205 shares during the period. Nisa Investment Advisors LLC's holdings in Garmin were worth $8,595,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Larson Financial Group LLC lifted its stake in Garmin by 26.8% during the fourth quarter. Larson Financial Group LLC now owns 241 shares of the scientific and technical instruments company's stock valued at $50,000 after purchasing an additional 51 shares during the last quarter. Principal Street Partners LLC lifted its stake in Garmin by 1.8% during the fourth quarter. Principal Street Partners LLC now owns 3,201 shares of the scientific and technical instruments company's stock valued at $660,000 after purchasing an additional 58 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Garmin by 2.7% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,251 shares of the scientific and technical instruments company's stock valued at $489,000 after acquiring an additional 59 shares in the last quarter. OneAscent Financial Services LLC lifted its position in shares of Garmin by 3.7% in the 4th quarter. OneAscent Financial Services LLC now owns 1,753 shares of the scientific and technical instruments company's stock valued at $361,000 after acquiring an additional 63 shares in the last quarter. Finally, Moody National Bank Trust Division lifted its position in shares of Garmin by 2.4% in the 1st quarter. Moody National Bank Trust Division now owns 3,015 shares of the scientific and technical instruments company's stock valued at $655,000 after acquiring an additional 72 shares in the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Garmin news, CEO Clifton A. Pemble sold 7,899 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $203.25, for a total value of $1,605,471.75. Following the completion of the sale, the chief executive officer owned 141,626 shares in the company, valued at $28,785,484.50. This represents a 5.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 sale, the chief financial officer owned 29,146 shares of the company's stock, valued at approximately $6,266,390. The trade was a 6.00% decrease in their position. The disclosure for this sale can be found here. 15.38% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

GRMN has been the subject of several research analyst reports. Morgan Stanley upped their price target on shares of Garmin from $159.00 to $172.00 and gave the company an "underweight" rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. reduced 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, Barclays reduced their price target on shares of Garmin from $188.00 to $152.00 and set an "underweight" rating for the company in a research report on Wednesday, April 30th. Two 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 stock. Based on data from MarketBeat, Garmin currently has an average rating of "Hold" and an average target price of $206.00.

Garmin Trading Down 0.9%

GRMN stock traded down $2.05 during midday trading on Friday, reaching $215.75. The company had a trading volume of 652,142 shares, compared to its average volume of 908,400. Garmin Ltd. has a 1 year low of $160.71 and a 1 year high of $246.50. The company has a market capitalization of $41.54 billion, a P/E ratio of 28.39, a PEG ratio of 2.44 and a beta of 0.97. The company has a 50 day moving average of $203.56 and a two-hundred day moving average of $207.16.

Garmin (NYSE:GRMN - Get Free Report) last released its earnings results on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 earnings per share (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 company had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.50 billion. During the same quarter in the previous year, the company earned $1.42 EPS. The firm's quarterly revenue was up 11.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Monday, June 16th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.67%. Garmin's payout ratio is 47.37%.

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.