Quantinno Capital Management LP Acquires 6,645 Shares of Garmin Ltd. (NYSE:GRMN)

Quantinno Capital Management LP boosted its holdings in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 25.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,106 shares of the scientific and technical instruments company's stock after buying an additional 6,645 shares during the quarter. Quantinno Capital Management LP's holdings in Garmin were worth $6,828,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in Garmin in the 4th quarter valued at about $396,184,000. Northern Trust Corp boosted its holdings in shares of Garmin by 20.2% during the fourth 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 period. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Garmin by 164.7% in the fourth 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 purchasing an additional 247,726 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Garmin by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 18,067,708 shares of the scientific and technical instruments company's stock worth $3,726,645,000 after purchasing an additional 215,344 shares during the period. Finally, Allianz Asset Management GmbH increased its stake in shares of Garmin by 32.2% during the fourth quarter. Allianz Asset Management GmbH now owns 675,950 shares of the scientific and technical instruments company's stock worth $139,421,000 after purchasing an additional 164,818 shares during the period. Institutional investors own 81.60% of the company's stock.

Insider Activity at Garmin

In other news, COO Patrick Desbois sold 6,911 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $227.15, for a total value of $1,569,833.65. Following the transaction, the chief operating officer now owns 63,048 shares in the company, valued at approximately $14,321,353.20. The trade was a 9.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Susan Lyman sold 2,829 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $215.51, for a total transaction of $609,677.79. Following the sale, the vice president now owns 8,432 shares of the company's stock, valued at approximately $1,817,180.32. This trade represents a 25.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,342 shares of company stock worth $5,486,094 over the last ninety days. Insiders own 15.38% of the company's stock.

Garmin Stock Performance

Shares of NYSE:GRMN traded up $0.94 during mid-day trading on Thursday, reaching $201.68. 168,747 shares of the company's stock were exchanged, compared to its average volume of 879,097. Garmin Ltd. has a twelve month low of $158.38 and a twelve month high of $246.50. The firm has a market capitalization of $38.83 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 1.36 and a beta of 0.99. The business's fifty day moving average price is $197.82 and its 200-day moving average price is $208.55.

Garmin (NYSE:GRMN - Get Free Report) last announced its 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). Garmin had a return on equity of 19.31% and a net margin of 22.42%. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the firm posted $1.42 earnings per share. The firm's quarterly revenue was up 11.1% compared to the same quarter last year. Analysts predict that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Friday, March 13th. Garmin's dividend payout ratio is currently 47.37%.

Analysts Set New Price Targets

GRMN has been the topic of a number of research reports. Tigress Financial upped their price objective 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 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. JPMorgan Chase & Co. dropped their price objective on shares of Garmin from $220.00 to $215.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Finally, 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. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a strong buy rating to the company. According to MarketBeat, Garmin currently has a consensus rating of "Hold" and an average target price of $194.80.

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.