Tounjian Advisory Partners LLC Takes $1.06 Million Position in Garmin Ltd. (NYSE:GRMN)

Tounjian Advisory Partners LLC purchased a new stake in Garmin Ltd. (NYSE:GRMN - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,886 shares of the scientific and technical instruments company's stock, valued at approximately $1,061,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its holdings in shares of Garmin by 26.8% during the 4th quarter. Larson Financial Group LLC now owns 241 shares of the scientific and technical instruments company's stock worth $50,000 after buying an additional 51 shares during the last quarter. Addison Advisors LLC grew its position in Garmin by 11.1% in the fourth quarter. Addison Advisors LLC now owns 522 shares of the scientific and technical instruments company's stock worth $108,000 after acquiring an additional 52 shares during the period. Oregon Public Employees Retirement Fund increased its stake in Garmin by 0.4% during the fourth 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 acquiring an additional 55 shares during the last quarter. Lifeworks Advisors LLC increased its stake in Garmin by 0.3% during the fourth quarter. Lifeworks Advisors LLC now owns 20,169 shares of the scientific and technical instruments company's stock worth $4,160,000 after acquiring an additional 58 shares during the last quarter. Finally, Principal Street Partners LLC raised its position in 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 valued at $660,000 after purchasing an additional 58 shares during the period. Hedge funds and other institutional investors own 81.60% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GRMN. Morgan Stanley increased their price target on Garmin from $159.00 to $172.00 and gave the stock an "underweight" rating in a report on Thursday, May 1st. Barclays dropped their price target on shares of Garmin from $188.00 to $152.00 and set an "underweight" rating for the company in a research report on Wednesday, April 30th. Tigress Financial boosted their price target on shares of Garmin from $265.00 to $285.00 and gave the company a "strong-buy" rating in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Garmin from $220.00 to $215.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Two analysts have rated the stock with a sell rating, two have assigned 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 a consensus target price of $206.00.

Garmin Trading Up 0.8%

Garmin stock traded up $1.76 during midday trading on Tuesday, reaching $210.05. 683,518 shares of the stock traded hands, compared to its average volume of 888,135. The firm has a market cap of $40.44 billion, a PE ratio of 28.73, a price-to-earnings-growth ratio of 1.36 and a beta of 0.98. The company has a 50-day simple moving average of $195.20 and a two-hundred day simple moving average of $208.04. Garmin Ltd. has a 12-month low of $158.38 and a 12-month high of $246.50.

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). The business had revenue of $1.54 billion during 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 company's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.42 EPS. Equities research analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders 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 dividend yield of 1.71%. Garmin's dividend 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.