UMB Bank n.a. Has $3.63 Million Holdings in Garmin Ltd. (NYSE:GRMN)

UMB Bank n.a. lifted its stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 364.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,715 shares of the scientific and technical instruments company's stock after purchasing an additional 13,117 shares during the period. UMB Bank n.a.'s holdings in Garmin were worth $3,629,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Norges Bank bought a new position in Garmin during the fourth quarter worth about $396,184,000. GAMMA Investing LLC lifted its position in shares of Garmin by 25,047.9% in the first quarter. GAMMA Investing LLC now owns 885,456 shares of the scientific and technical instruments company's stock valued at $192,259,000 after buying an additional 881,935 shares during the last quarter. Congress Asset Management Co. boosted its stake in shares of Garmin by 673.4% during the 1st quarter. Congress Asset Management Co. now owns 441,318 shares of the scientific and technical instruments company's stock worth $95,823,000 after acquiring an additional 384,258 shares during the period. Northern Trust Corp increased its holdings in shares of Garmin by 20.2% during the 4th quarter. Northern Trust Corp now owns 1,708,495 shares of the scientific and technical instruments company's stock worth $352,394,000 after acquiring an additional 286,765 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in Garmin by 164.7% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,145 shares of the scientific and technical instruments company's stock valued at $82,121,000 after acquiring an additional 247,726 shares during the period. Institutional investors and hedge funds own 81.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. cut their price target on Garmin from $220.00 to $215.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Morgan Stanley raised their target price on shares of Garmin from $159.00 to $172.00 and gave the stock an "underweight" rating in a research note on Thursday, May 1st. Tigress Financial lifted their target price on shares of Garmin from $265.00 to $285.00 and gave the stock a "strong-buy" rating in a report on Wednesday, February 26th. Finally, Barclays lowered their price target on shares of Garmin from $188.00 to $152.00 and set an "underweight" rating on the stock in a report on Wednesday, April 30th. Two equities research 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 stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $206.00.

Garmin Stock Up 0.4%

Shares of Garmin stock traded up $0.89 during trading on Monday, reaching $208.34. The company's stock had a trading volume of 1,183,687 shares, compared to its average volume of 888,953. The business's 50-day moving average price is $195.40 and its 200-day moving average price is $208.06. Garmin Ltd. has a 52 week low of $158.38 and a 52 week high of $246.50. The firm has a market cap of $40.11 billion, a PE ratio of 28.50, a P/E/G ratio of 1.36 and a beta of 0.98.

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

Garmin Announces Dividend

The business also recently disclosed 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 dividend payout ratio (DPR) is presently 47.37%.

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.