QRG Capital Management Inc. raised its stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 3.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 71,061 shares of the scientific and technical instruments company's stock after purchasing an additional 2,076 shares during the period. QRG Capital Management Inc.'s holdings in Garmin were worth $15,429,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Aster Capital Management DIFC Ltd boosted its holdings in shares of Garmin by 864.3% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company's stock valued at $28,000 after purchasing an additional 121 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Garmin by 67.7% during the 4th quarter. Venturi Wealth Management LLC now owns 208 shares of the scientific and technical instruments company's stock valued at $43,000 after purchasing an additional 84 shares during the last quarter. Investment Management Corp VA ADV bought a new position in shares of Garmin during the 4th quarter valued at about $46,000. Measured Risk Portfolios Inc. bought a new position in shares of Garmin in the 4th quarter valued at about $47,000. Finally, Larson Financial Group LLC lifted its holdings in shares of Garmin by 26.8% in the 4th quarter. Larson Financial Group LLC now owns 241 shares of the scientific and technical instruments company's stock valued at $50,000 after acquiring an additional 51 shares during the last quarter. Institutional investors own 81.60% of the company's stock.
Garmin Stock Performance
Shares of NYSE:GRMN opened at $203.72 on Tuesday. The firm has a market cap of $39.22 billion, a PE ratio of 27.87, a price-to-earnings-growth ratio of 1.36 and a beta of 0.98. The firm's 50 day simple moving average is $198.04 and its 200-day simple moving average is $207.82. Garmin Ltd. has a one year low of $158.38 and a one year high of $246.50.
Garmin (NYSE:GRMN - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.50 billion. Garmin had a net margin of 22.42% and a return on equity of 19.31%. The business's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.42 earnings per share. Equities research analysts predict that Garmin Ltd. will post 7.8 EPS for the current fiscal year.
Garmin Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 16th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.77%. Garmin's dividend payout ratio is presently 47.37%.
Wall Street Analyst Weigh In
A number of research analysts recently commented on GRMN shares. Morgan Stanley increased their price target on shares of Garmin from $159.00 to $172.00 and gave the company an "underweight" rating in a report on Thursday, May 1st. Tigress Financial increased their price target on shares of Garmin from $265.00 to $285.00 and gave the company a "strong-buy" rating in a report on Wednesday, February 26th. Barclays lowered their price target on shares of Garmin from $188.00 to $152.00 and set an "underweight" rating for the company in a report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Garmin from $220.00 to $215.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Two investment 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 stock. According to MarketBeat.com, Garmin currently has an average rating of "Hold" and a consensus target price of $206.00.
Check Out Our Latest Stock Report on GRMN
Garmin Company Profile
(
Free Report)
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.
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