Robeco Institutional Asset Management B.V. Has $83.77 Million Stock Holdings in Garmin Ltd. (NYSE:GRMN)

Robeco Institutional Asset Management B.V. lessened its position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 14.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 385,781 shares of the scientific and technical instruments company's stock after selling 67,253 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.20% of Garmin worth $83,765,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its holdings in 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 worth $50,000 after acquiring an additional 51 shares during the period. Oregon Public Employees Retirement Fund increased its stake in Garmin by 0.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 13,185 shares of the scientific and technical instruments company's stock worth $2,720,000 after buying an additional 55 shares during the period. Lifeworks Advisors LLC lifted its holdings in Garmin by 0.3% in the 4th quarter. Lifeworks Advisors LLC now owns 20,169 shares of the scientific and technical instruments company's stock worth $4,160,000 after buying an additional 58 shares in the last quarter. Principal Street Partners LLC boosted its position in Garmin by 1.8% in the 4th quarter. Principal Street Partners LLC now owns 3,201 shares of the scientific and technical instruments company's stock valued at $660,000 after buying an additional 58 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in 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 buying an additional 59 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on GRMN shares. Barclays cut their price target on Garmin from $188.00 to $152.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 30th. JPMorgan Chase & Co. dropped their price objective on Garmin from $220.00 to $215.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Finally, Morgan Stanley upped their target price on Garmin from $159.00 to $172.00 and gave the company an "underweight" rating in a research report on Thursday, May 1st. 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 company's stock. According to data from MarketBeat.com, Garmin currently has a consensus rating of "Hold" and a consensus target price of $206.00.

Insider Activity

In related 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 transaction of $1,605,471.75. Following the completion of the sale, the chief executive officer now directly owns 141,626 shares of the company's stock, valued at $28,785,484.50. This represents a 5.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 15.38% of the stock is owned by insiders.

Garmin Price Performance

Shares of GRMN traded up $3.34 during trading hours on Friday, reaching $208.49. 1,109,822 shares of the company's stock traded hands, compared to its average volume of 903,061. Garmin Ltd. has a twelve month low of $158.90 and a twelve month high of $246.50. The business's fifty day simple moving average is $199.71 and its two-hundred day simple moving average is $207.12. The firm has a market capitalization of $40.14 billion, a price-to-earnings ratio of 27.43, a P/E/G ratio of 2.28 and a beta of 0.98.

Garmin (NYSE:GRMN - Get Free Report) last released 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). The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.50 billion. Garmin had a return on equity of 19.21% and a net margin of 22.76%. The firm's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.42 earnings per share. On average, equities research analysts expect that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.73%. Garmin's payout ratio is currently 47.37%.

Garmin Company 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.