Graham Capital Management L.P. boosted its position in Garmin Ltd. (NYSE:GRMN - Free Report) by 670.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,757 shares of the scientific and technical instruments company's stock after acquiring an additional 17,192 shares during the period. Graham Capital Management L.P.'s holdings in Garmin were worth $4,075,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. boosted its stake in Garmin by 1.7% during the fourth quarter. Geneos Wealth Management Inc. now owns 2,863 shares of the scientific and technical instruments company's stock valued at $591,000 after buying an additional 49 shares during the period. Curbstone Financial Management Corp boosted its stake in Garmin by 1.3% during the fourth quarter. Curbstone Financial Management Corp now owns 3,886 shares of the scientific and technical instruments company's stock valued at $802,000 after buying an additional 50 shares during the period. Larson Financial Group LLC boosted its stake in Garmin by 26.8% during the fourth quarter. Larson Financial Group LLC now owns 241 shares of the scientific and technical instruments company's stock valued at $50,000 after buying an additional 51 shares during the period. Addison Advisors LLC raised its position in Garmin by 11.1% during the fourth 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 in the last quarter. Finally, HB Wealth Management LLC raised its position in Garmin by 1.4% during the fourth quarter. HB Wealth Management LLC now owns 3,821 shares of the scientific and technical instruments company's stock valued at $788,000 after purchasing an additional 53 shares in the last quarter. Institutional investors own 81.60% of the company's stock.
Garmin Price Performance
Garmin stock traded down $0.16 during trading hours on Wednesday, reaching $200.28. The company had a trading volume of 634,354 shares, compared to its average volume of 879,042. The firm has a market cap of $38.56 billion, a price-to-earnings ratio of 27.40, a P/E/G ratio of 1.36 and a beta of 0.99. Garmin Ltd. has a 12-month low of $158.38 and a 12-month high of $246.50. The company has a 50-day moving average price of $199.22 and a 200 day moving average price of $208.03.
Garmin (NYSE:GRMN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 earnings per share for the quarter, missing analysts' consensus estimates of $1.62 by ($0.01). The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.50 billion. Garmin had a return on equity of 19.31% and a net margin of 22.42%. Garmin's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.42 earnings per share. As a group, research analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current year.
Garmin Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be given a $0.90 dividend. The ex-dividend date is Friday, March 13th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.80%. Garmin's dividend payout ratio is currently 47.37%.
Insider Transactions at Garmin
In other Garmin news, CEO Clifton A. Pemble sold 7,202 shares of the business's stock in a transaction 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 sale, the chief executive officer now directly owns 149,525 shares of the company's stock, valued at approximately $33,963,108.50. The trade was a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Douglas G. Boessen sold 2,763 shares of the business's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $226.55, for a total value of $625,957.65. Following the completion of the sale, the chief financial officer now directly owns 30,936 shares in the company, valued at $7,008,550.80. This trade represents a 8.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,342 shares of company stock worth $5,486,094. 15.38% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several equities analysts have recently commented on the company. Morgan Stanley increased their price objective on Garmin from $159.00 to $172.00 and gave the company an "underweight" rating in a research report on Thursday, May 1st. Tigress Financial raised 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. JPMorgan Chase & Co. decreased their price objective on Garmin from $220.00 to $215.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Finally, Barclays decreased their price objective on Garmin from $188.00 to $152.00 and set an "underweight" rating on the stock in a report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Garmin presently has an average rating of "Hold" and an average target price of $194.80.
Check Out Our Latest Analysis on Garmin
About Garmin
(
Free Report)
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.
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