Lecap Asset Management Ltd. Buys Shares of 8,259 Garmin Ltd. (NYSE:GRMN)

Lecap Asset Management Ltd. bought a new stake in Garmin Ltd. (NYSE:GRMN - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 8,259 shares of the scientific and technical instruments company's stock, valued at approximately $1,062,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mn Services Vermogensbeheer B.V. grew its position in Garmin by 0.4% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 73,227 shares of the scientific and technical instruments company's stock worth $9,413,000 after purchasing an additional 300 shares during the last quarter. Outlook Wealth Advisors LLC acquired a new stake in Garmin during the fourth quarter worth about $242,000. Louisiana State Employees Retirement System acquired a new stake in Garmin during the fourth quarter worth about $1,195,000. Simplicity Solutions LLC grew its position in Garmin by 104.6% during the fourth quarter. Simplicity Solutions LLC now owns 4,477 shares of the scientific and technical instruments company's stock worth $575,000 after buying an additional 2,289 shares in the last quarter. Finally, Janiczek Wealth Management LLC grew its position in Garmin by 15.6% during the fourth quarter. Janiczek Wealth Management LLC now owns 2,458 shares of the scientific and technical instruments company's stock worth $316,000 after buying an additional 331 shares in the last quarter. 73.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GRMN. Barrington Research lifted their target price on Garmin from $119.00 to $140.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 22nd. Bank of America lifted their target price on Garmin from $120.00 to $165.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 3rd. StockNews.com raised Garmin from a "hold" rating to a "buy" rating in a research report on Thursday. Tigress Financial reaffirmed a "strong-buy" rating and set a $175.00 price objective (up from $165.00) on shares of Garmin in a report on Tuesday, February 27th. Finally, JPMorgan Chase & Co. lifted their price objective on Garmin from $139.00 to $155.00 and gave the company a "neutral" rating in a report on Thursday. Six research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $142.33.

Garmin Price Performance

Shares of GRMN traded down $2.97 on Friday, hitting $143.11. The company's stock had a trading volume of 739,971 shares, compared to its average volume of 774,519. The company has a market capitalization of $27.45 billion, a PE ratio of 21.33, a PEG ratio of 4.69 and a beta of 0.98. Garmin Ltd. has a fifty-two week low of $94.89 and a fifty-two week high of $149.54. The company has a 50 day moving average price of $138.61 and a 200 day moving average price of $125.30.

Garmin (NYSE:GRMN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 21st. The scientific and technical instruments company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.32. Garmin had a net margin of 24.67% and a return on equity of 16.60%. The firm had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.41 billion. During the same quarter in the previous year, the company posted $1.35 EPS. Garmin's revenue was up 13.3% on a year-over-year basis. On average, equities analysts forecast that Garmin Ltd. will post 5.45 EPS for the current year.

Garmin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.10%. The ex-dividend date is Friday, December 13th. Garmin's dividend payout ratio (DPR) is presently 43.52%.

Insider Buying and Selling

In other Garmin news, VP Susan Lyman sold 2,587 shares of the company's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $135.18, for a total transaction of $349,710.66. Following the completion of the sale, the vice president now owns 7,174 shares in the company, valued at approximately $969,781.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Clifton A. Pemble sold 1,622 shares of the company's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $134.19, for a total value of $217,656.18. Following the completion of the sale, the chief executive officer now owns 159,319 shares in the company, valued at approximately $21,379,016.61. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Susan Lyman sold 2,587 shares of the company's stock in a transaction on Monday, February 26th. The stock was sold at an average price of $135.18, for a total transaction of $349,710.66. Following the completion of the transaction, the vice president now directly owns 7,174 shares of the company's stock, valued at $969,781.32. The disclosure for this sale can be found here. Insiders sold 99,476 shares of company stock worth $14,166,944 in the last quarter. Insiders own 19.89% of the company's stock.

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.