Pacer Advisors Inc. Has $2.64 Million Stock Position in Garmin Ltd. (NYSE:GRMN)

Pacer Advisors Inc. decreased its stake in Garmin Ltd. (NYSE:GRMN - Free Report) by 24.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,172 shares of the scientific and technical instruments company's stock after selling 4,033 shares during the period. Pacer Advisors Inc.'s holdings in Garmin were worth $2,643,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in GRMN. Principal Street Partners LLC lifted its position in shares of Garmin by 1.8% in the fourth quarter. Principal Street Partners LLC now owns 3,201 shares of the scientific and technical instruments company's stock worth $660,000 after buying 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 first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,251 shares of the scientific and technical instruments company's stock worth $489,000 after buying an additional 59 shares during the last quarter. OneAscent Financial Services LLC lifted its position in shares of Garmin by 3.7% in the fourth quarter. OneAscent Financial Services LLC now owns 1,753 shares of the scientific and technical instruments company's stock worth $361,000 after buying an additional 63 shares during the last quarter. Moody National Bank Trust Division lifted its position in shares of Garmin by 2.4% in the first quarter. Moody National Bank Trust Division now owns 3,015 shares of the scientific and technical instruments company's stock worth $655,000 after buying an additional 72 shares during the last quarter. Finally, FSM Wealth Advisors LLC lifted its position in shares of Garmin by 5.1% in the first quarter. FSM Wealth Advisors LLC now owns 1,497 shares of the scientific and technical instruments company's stock worth $325,000 after buying an additional 72 shares during the last quarter. Institutional investors own 81.60% of the company's stock.

Garmin Price Performance

Shares of NYSE GRMN traded up $0.03 during trading hours on Friday, hitting $218.79. 1,324,517 shares of the company's stock were exchanged, compared to its average volume of 957,918. Garmin Ltd. has a 1-year low of $160.71 and a 1-year high of $246.50. The stock has a market capitalization of $42.13 billion, a price-to-earnings ratio of 26.98, a PEG ratio of 2.48 and a beta of 0.97. The company's 50-day moving average price is $212.28 and its 200-day moving average price is $208.97.

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

Garmin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.6%. Garmin's dividend payout ratio (DPR) is 47.37%.

Analyst Ratings Changes

GRMN has been the subject of a number of analyst reports. Barclays reaffirmed an "underweight" rating and issued a $167.00 price target (up previously from $152.00) on shares of Garmin in a research report on Wednesday. Morgan Stanley boosted their price target on Garmin from $172.00 to $186.00 and gave the stock an "underweight" rating in a research report on Thursday. Finally, JPMorgan Chase & Co. boosted their price objective on Garmin from $215.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Two investment 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's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $222.00.

Insider Activity at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 1,859 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $215.00, for a total value of $399,685.00. Following the completion of the transaction, the chief financial officer owned 29,146 shares of the company's stock, valued at $6,266,390. This represents a 6.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Clifton A. Pemble sold 7,899 shares of the company's 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 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 disclosure for this sale can be found here. Corporate insiders own 15.38% of the company's stock.

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.