1,763 Shares in Garmin Ltd. (NYSE:GRMN) Bought by NorthRock Partners LLC

NorthRock Partners LLC acquired a new stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,763 shares of the scientific and technical instruments company's stock, valued at approximately $364,000.

Several other hedge funds have also bought and sold shares of GRMN. Montrusco Bolton Investments Inc. raised its holdings 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 worth $88,937,000 after purchasing an additional 128,672 shares in the last quarter. Baskin Financial Services Inc. lifted its stake in 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 acquiring an additional 4,616 shares during the period. Savant Capital LLC lifted its stake in 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 acquiring an additional 2,910 shares during the period. Quantbot Technologies LP bought a new position in shares of Garmin in the 4th quarter worth approximately $127,000. Finally, BankPlus Wealth Management LLC bought a new position in shares of Garmin in the 4th quarter worth approximately $668,000. 81.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, COO Patrick Desbois sold 6,911 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $227.15, for a total transaction of $1,569,833.65. Following the completion of the sale, the chief operating officer now owns 63,048 shares in the company, valued at $14,321,353.20. The trade was a 9.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Susan Lyman sold 2,829 shares of Garmin 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 in the company, valued at $1,817,180.32. This represents a 25.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,342 shares of company stock valued at $5,486,094 in the last three months. 15.38% of the stock is owned by corporate insiders.

Garmin Stock Performance

Shares of GRMN stock traded down $1.21 on Tuesday, hitting $203.69. 714,039 shares of the stock traded hands, compared to its average volume of 879,652. The firm's 50-day moving average price is $198.19 and its two-hundred day moving average price is $208.64. The stock has a market capitalization of $39.22 billion, a PE ratio of 27.86, a PEG ratio of 1.36 and a beta of 0.99. Garmin Ltd. has a twelve month low of $158.38 and a twelve month high of $246.50.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.62 by ($0.01). The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.50 billion. Garmin had a return on equity of 19.31% and a net margin of 22.42%. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.42 earnings per share. On average, equities research analysts anticipate 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. Stockholders of record on Friday, March 13th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Friday, March 13th. Garmin's dividend payout ratio is currently 47.37%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on GRMN shares. 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 note on Thursday, May 1st. Barclays cut their target price on shares of Garmin from $188.00 to $152.00 and set an "underweight" rating for the company in a report on Wednesday, April 30th. Morgan Stanley lifted their price objective 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. Finally, Tigress Financial boosted their target price on shares of Garmin from $265.00 to $285.00 and gave the company a "strong-buy" rating in a research note on Wednesday, February 26th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $194.80.

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.