Garmin Ltd. (NYSE:GRMN) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC cut its stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 6.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 117,501 shares of the scientific and technical instruments company's stock after selling 7,775 shares during the period. SG Americas Securities LLC owned about 0.06% of Garmin worth $25,513,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new stake in shares of Garmin in the fourth quarter valued at about $26,000. Aster Capital Management DIFC Ltd raised its position in shares of Garmin by 864.3% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company's stock valued at $28,000 after buying an additional 121 shares during the last quarter. Kentucky Trust Co acquired a new stake in shares of Garmin in the fourth quarter valued at about $41,000. Venturi Wealth Management LLC raised its position in shares of Garmin by 67.7% in the fourth quarter. Venturi Wealth Management LLC now owns 208 shares of the scientific and technical instruments company's stock valued at $43,000 after buying an additional 84 shares during the last quarter. Finally, Investment Management Corp VA ADV acquired a new stake in shares of Garmin in the fourth quarter valued at about $46,000. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Garmin Stock Down 3.5%

GRMN stock traded down $7.26 during mid-day trading on Friday, hitting $201.13. 838,354 shares of the company were exchanged, compared to its average volume of 891,660. The business has a fifty day simple moving average of $197.43 and a 200-day simple moving average of $207.94. Garmin Ltd. has a 12-month low of $158.38 and a 12-month high of $246.50. The firm has a market capitalization of $38.73 billion, a P/E ratio of 27.51, a PEG ratio of 1.36 and a beta of 0.98.

Garmin (NYSE:GRMN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.01). Garmin had a net margin of 22.42% and a return on equity of 19.31%. The business had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.50 billion. During the same period in the previous year, the business posted $1.42 EPS. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. Research analysts predict that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 16th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.79%. Garmin's payout ratio is 47.37%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Tigress Financial upped their price objective 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 dropped their price objective 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. Morgan Stanley upped their price objective on shares of Garmin from $159.00 to $172.00 and gave the company an "underweight" rating in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Garmin from $220.00 to $215.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $206.00.

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.