Peterson Wealth Services Buys New Position in Garmin Ltd. (NYSE:GRMN)

Peterson Wealth Services acquired a new position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 18,401 shares of the scientific and technical instruments company's stock, valued at approximately $2,365,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. raised its stake in Garmin by 35.2% in the 4th quarter. Blue Trust Inc. now owns 380 shares of the scientific and technical instruments company's stock valued at $49,000 after acquiring an additional 99 shares during the period. Wetherby Asset Management Inc. grew its holdings in Garmin by 3.7% in the 1st quarter. Wetherby Asset Management Inc. now owns 2,909 shares of the scientific and technical instruments company's stock valued at $294,000 after buying an additional 105 shares in the last quarter. BRYN MAWR TRUST Co grew its holdings in Garmin by 4.3% in the 1st quarter. BRYN MAWR TRUST Co now owns 2,623 shares of the scientific and technical instruments company's stock valued at $265,000 after buying an additional 107 shares in the last quarter. Independent Advisor Alliance grew its holdings in Garmin by 5.3% in the 3rd quarter. Independent Advisor Alliance now owns 2,207 shares of the scientific and technical instruments company's stock valued at $232,000 after buying an additional 111 shares in the last quarter. Finally, Orion Portfolio Solutions LLC grew its holdings in Garmin by 4.4% in the 2nd quarter. Orion Portfolio Solutions LLC now owns 2,688 shares of the scientific and technical instruments company's stock valued at $698,000 after buying an additional 114 shares in the last quarter. Institutional investors own 73.41% of the company's stock.

Insider Buying and Selling at Garmin

In other Garmin news, Director Jonathan Burrell sold 15,000 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $148.89, for a total value of $2,233,350.00. Following the completion of the transaction, the director now directly owns 653,834 shares in the company, valued at $97,349,344.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Clifton A. Pemble sold 1,622 shares of the firm's stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $134.19, for a total transaction of $217,656.18. Following the completion of the transaction, the chief executive officer now directly owns 159,319 shares in the company, valued at $21,379,016.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jonathan Burrell sold 15,000 shares of the firm's stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $148.89, for a total value of $2,233,350.00. Following the transaction, the director now owns 653,834 shares of the company's stock, valued at $97,349,344.26. The disclosure for this sale can be found here. Over the last three months, insiders sold 99,476 shares of company stock worth $14,166,944. 19.89% of the stock is currently owned by insiders.

Garmin Price Performance

NYSE:GRMN traded down $0.44 during trading hours on Thursday, hitting $140.63. The company's stock had a trading volume of 828,163 shares, compared to its average volume of 924,387. The stock has a fifty day simple moving average of $139.83 and a 200-day simple moving average of $125.92. The company has a market capitalization of $26.97 billion, a P/E ratio of 21.02, a PEG ratio of 4.66 and a beta of 0.98. Garmin Ltd. has a twelve month low of $94.89 and a twelve month high of $149.54.

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

Garmin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a $0.75 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.00 annualized dividend and a yield of 2.13%. Garmin's dividend payout ratio is presently 43.52%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Barrington Research upped their price objective on Garmin from $119.00 to $140.00 and gave the company an "equal weight" rating in a report on Thursday, February 22nd. StockNews.com raised Garmin from a "hold" rating to a "buy" rating in a report on Wednesday. JPMorgan Chase & Co. increased their target price on Garmin from $139.00 to $155.00 and gave the stock a "neutral" rating in a report on Thursday, April 11th. Bank of America increased their target price on Garmin from $120.00 to $165.00 and gave the stock a "neutral" rating in a report on Wednesday, April 3rd. Finally, Tigress Financial reissued a "strong-buy" rating and set a $175.00 target price (up from $165.00) on shares of Garmin in a report on Tuesday, February 27th. Six investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $142.33.

Garmin Company 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.