World Investment Advisors Buys New Position in Garmin Ltd. (NYSE:GRMN)

World Investment Advisors bought a new position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,410 shares of the scientific and technical instruments company's stock, valued at approximately $306,000.

A number of other hedge funds have also modified their holdings of GRMN. Aster Capital Management DIFC Ltd grew its position in Garmin by 864.3% in the 4th 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. TFC Financial Management Inc. grew its position in Garmin by 1,633.3% in the 1st quarter. TFC Financial Management Inc. now owns 156 shares of the scientific and technical instruments company's stock valued at $34,000 after buying an additional 147 shares during the last quarter. Wayfinding Financial LLC purchased a new position in Garmin in the 1st quarter valued at $34,000. Garde Capital Inc. purchased a new stake in shares of Garmin during the 1st quarter worth $40,000. Finally, Olde Wealth Management LLC purchased a new stake in shares of Garmin during the 1st quarter worth $43,000. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Garmin

In related news, CEO Clifton A. Pemble sold 7,899 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $203.25, for a total value of $1,605,471.75. Following the completion of the transaction, the chief executive officer owned 141,626 shares of the company's stock, valued at approximately $28,785,484.50. The trade was a 5.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Douglas G. Boessen sold 1,859 shares of the business's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $215.00, for a total transaction of $399,685.00. Following the completion of the transaction, the chief financial officer directly owned 29,146 shares of the company's stock, valued at $6,266,390. The trade was a 6.00% decrease in their position. The disclosure for this sale can be found here. Insiders own 15.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Morgan Stanley boosted their target price on shares of Garmin from $159.00 to $172.00 and gave the stock an "underweight" rating in a research report on Thursday, May 1st. Barclays decreased their target price on shares of Garmin from $188.00 to $152.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Garmin from $220.00 to $215.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $206.00.

Garmin Trading Down 0.9%

Shares of NYSE:GRMN traded down $2.05 during midday trading on Friday, hitting $215.75. 652,142 shares of the stock were exchanged, compared to its average volume of 909,100. The stock has a market cap of $41.54 billion, a P/E ratio of 28.39, a PEG ratio of 2.42 and a beta of 0.97. Garmin Ltd. has a twelve month low of $160.71 and a twelve month high of $246.50. The company has a 50 day moving average price of $204.04 and a 200-day moving average price of $207.16.

Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 earnings per share (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 analyst estimates of $1.50 billion. Garmin had a return on equity of 19.21% and a net margin of 22.76%. The company's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm earned $1.42 EPS. On average, equities research analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Monday, June 16th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.67%. Garmin's dividend payout ratio (DPR) is presently 47.37%.

Garmin 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.