Tower View Wealth Management LLC Has $4.19 Million Stock Holdings in Garmin Ltd. (NYSE:GRMN)

Tower View Wealth Management LLC grew its holdings in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 18.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,293 shares of the scientific and technical instruments company's stock after buying an additional 3,015 shares during the quarter. Garmin makes up 2.4% of Tower View Wealth Management LLC's portfolio, making the stock its 15th largest position. Tower View Wealth Management LLC's holdings in Garmin were worth $4,189,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Larson Financial Group LLC raised 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 purchasing an additional 51 shares during the period. Addison Advisors LLC raised its holdings in shares of Garmin by 11.1% in the 4th quarter. Addison Advisors LLC now owns 522 shares of the scientific and technical instruments company's stock valued at $108,000 after purchasing an additional 52 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in shares of Garmin by 0.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 13,185 shares of the scientific and technical instruments company's stock valued at $2,720,000 after purchasing an additional 55 shares during the period. Lifeworks Advisors LLC raised its holdings in shares of 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 valued at $4,160,000 after purchasing an additional 58 shares during the period. Finally, Principal Street Partners LLC raised its holdings in shares of 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 purchasing an additional 58 shares during the period. 81.60% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Garmin 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 transaction, the chief executive officer now owns 141,626 shares in the company, valued at $28,785,484.50. This represents a 5.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 15.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GRMN. Tigress Financial upped their target price 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 decreased their price target on shares of Garmin from $188.00 to $152.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 30th. Morgan Stanley upped their price target on shares of Garmin from $159.00 to $172.00 and gave the company an "underweight" rating in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Garmin from $220.00 to $215.00 and set a "neutral" rating on the stock in a research note 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 company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $206.00.

Garmin Stock Performance

GRMN traded up $1.58 on Friday, reaching $199.88. The company had a trading volume of 2,155,362 shares, compared to its average volume of 900,452. Garmin Ltd. has a fifty-two week low of $158.90 and a fifty-two week high of $246.50. The stock has a market cap of $38.49 billion, a P/E ratio of 26.30, a P/E/G ratio of 2.22 and a beta of 0.98. The company's fifty day moving average is $198.67 and its 200 day moving average is $207.49.

Garmin (NYSE:GRMN - Get Free Report) last announced 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). Garmin had a net margin of 22.76% and a return on equity of 19.21%. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the company posted $1.42 EPS. The firm's quarterly revenue was up 11.1% on a year-over-year basis. On average, sell-side analysts expect that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders 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 1.80%. Garmin's payout ratio 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.