Gotham Asset Management LLC Sells 13,404 Shares of Garmin Ltd. (NYSE:GRMN)

Gotham Asset Management LLC reduced its stake in Garmin Ltd. (NYSE:GRMN - Free Report) by 29.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 31,532 shares of the scientific and technical instruments company's stock after selling 13,404 shares during the quarter. Gotham Asset Management LLC's holdings in Garmin were worth $6,504,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Montrusco Bolton Investments Inc. raised its position in Garmin by 42.5% in the 4th quarter. Montrusco Bolton Investments Inc. now owns 431,188 shares of the scientific and technical instruments company's stock valued at $88,937,000 after buying an additional 128,672 shares during the last quarter. Baskin Financial Services Inc. increased its position in shares of Garmin by 3.2% during the 4th quarter. Baskin Financial Services Inc. now owns 148,957 shares of the scientific and technical instruments company's stock valued at $30,724,000 after purchasing an additional 4,616 shares during the last quarter. Savant Capital LLC increased its position in shares of Garmin by 47.2% during the 4th quarter. Savant Capital LLC now owns 9,075 shares of the scientific and technical instruments company's stock valued at $1,872,000 after purchasing an additional 2,910 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Garmin during the 4th quarter valued at $127,000. Finally, BankPlus Wealth Management LLC purchased a new stake in shares of Garmin during the 4th quarter valued at $668,000. 81.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GRMN has been the subject of several research analyst reports. Tigress Financial raised their target price on Garmin from $265.00 to $285.00 and gave the company a "strong-buy" rating in a research report on Wednesday, February 26th. Barclays decreased their price objective on Garmin from $188.00 to $152.00 and set an "underweight" rating for the company in a report on Wednesday, April 30th. JPMorgan Chase & Co. decreased their price objective on Garmin from $220.00 to $215.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Finally, Morgan Stanley lifted their price objective on Garmin from $159.00 to $172.00 and gave the stock an "underweight" rating in a report on Thursday, May 1st. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $194.80.

Insider Activity

In other news, VP Susan Lyman sold 2,829 shares of Garmin stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $215.51, for a total transaction of $609,677.79. Following the completion of the sale, the vice president now owns 8,432 shares in the company, valued at approximately $1,817,180.32. This trade represents a 25.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Clifton A. Pemble sold 7,202 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $227.14, for a total value of $1,635,862.28. Following the completion of the sale, the chief executive officer now owns 149,525 shares of the company's stock, valued at $33,963,108.50. The trade was a 4.60% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,342 shares of company stock worth $5,486,094. 15.38% of the stock is currently owned by insiders.

Garmin Stock Performance

NYSE GRMN traded up $3.19 during trading hours on Friday, hitting $205.11. The company had a trading volume of 682,897 shares, compared to its average volume of 880,319. Garmin Ltd. has a 52 week low of $158.38 and a 52 week high of $246.50. The firm has a 50 day simple moving average of $198.41 and a 200 day simple moving average of $208.49. The firm has a market capitalization of $39.49 billion, a price-to-earnings ratio of 28.06, a PEG ratio of 1.36 and a beta of 0.99.

Garmin (NYSE:GRMN - Get Free Report) last issued 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 during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the business earned $1.42 EPS. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, research analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be given a dividend of $0.90 per share. The ex-dividend date is Friday, March 13th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.76%. 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.