Sivia Capital Partners LLC Makes New Investment in Garmin Ltd. (NYSE:GRMN)

Sivia Capital Partners LLC bought a new position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,420 shares of the scientific and technical instruments company's stock, valued at approximately $308,000.

Other institutional investors have also recently made changes to their positions in the company. Savant Capital LLC grew its holdings in Garmin by 47.2% during the 4th quarter. Savant Capital LLC now owns 9,075 shares of the scientific and technical instruments company's stock valued at $1,872,000 after buying an additional 2,910 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Garmin during the fourth quarter valued at about $127,000. Allspring Global Investments Holdings LLC grew its position in shares of Garmin by 229.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 159,056 shares of the scientific and technical instruments company's stock valued at $32,535,000 after purchasing an additional 110,705 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Garmin by 5.9% during the fourth quarter. Van ECK Associates Corp now owns 29,900 shares of the scientific and technical instruments company's stock valued at $6,167,000 after purchasing an additional 1,659 shares in the last quarter. Finally, Principal Securities Inc. grew its holdings in Garmin by 23.0% during the 4th quarter. Principal Securities Inc. now owns 1,781 shares of the scientific and technical instruments company's stock valued at $367,000 after buying an additional 333 shares in the last quarter. Hedge funds and other institutional investors own 81.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GRMN. Tigress Financial raised their price target on Garmin from $265.00 to $285.00 and gave the company a "strong-buy" rating in a report on Wednesday, February 26th. Morgan Stanley raised their target price on shares of Garmin from $159.00 to $172.00 and gave the company an "underweight" rating in a report on Thursday, May 1st. 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 research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Garmin from $220.00 to $215.00 and set a "neutral" rating on the stock in a 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. Based on data from MarketBeat, Garmin currently has an average rating of "Hold" and an average price target of $206.00.

Garmin Stock Performance

NYSE GRMN opened at $207.50 on Monday. Garmin Ltd. has a fifty-two week low of $158.38 and a fifty-two week high of $246.50. The company has a market cap of $39.95 billion, a P/E ratio of 28.39, a P/E/G ratio of 1.36 and a beta of 0.98. The business's 50 day moving average price is $195.40 and its 200-day moving average price is $208.06.

Garmin (NYSE:GRMN - Get Free Report) last issued its quarterly earnings results 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). The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.50 billion. Garmin had a net margin of 22.42% and a return on equity of 19.31%. The business's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.42 earnings per share. As a group, equities 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. Shareholders of record on Monday, June 16th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.73%. Garmin's dividend payout ratio (DPR) is presently 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.

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