Barlow Wealth Partners Inc. Invests $16.82 Million in Garmin Ltd. (NYSE:GRMN)

Barlow Wealth Partners Inc. acquired a new stake in Garmin Ltd. (NYSE:GRMN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 130,814 shares of the scientific and technical instruments company's stock, valued at approximately $16,815,000. Garmin comprises approximately 2.4% of Barlow Wealth Partners Inc.'s holdings, making the stock its 11th biggest position. Barlow Wealth Partners Inc. owned approximately 0.07% of Garmin at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Wetzel Investment Advisors Inc. acquired a new stake in shares of Garmin in the 4th quarter worth about $26,000. Headinvest LLC acquired a new position in shares of Garmin during the third quarter valued at $41,000. Blue Trust Inc. raised its stake in shares of Garmin by 35.2% during the fourth quarter. Blue Trust Inc. now owns 380 shares of the scientific and technical instruments company's stock valued at $49,000 after purchasing an additional 99 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in Garmin in the 4th quarter valued at about $51,000. Finally, MeadowBrook Investment Advisors LLC acquired a new position in Garmin during the 4th quarter valued at about $55,000. 73.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on GRMN. Barclays increased their price target on Garmin from $140.00 to $166.00 and gave the company an "equal weight" rating in a research note on Thursday, May 2nd. Barrington Research increased their price target on shares of Garmin from $119.00 to $140.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 22nd. Tigress Financial restated a "strong-buy" rating and set a $175.00 price target (up from $165.00) on shares of Garmin in a report on Tuesday, February 27th. JPMorgan Chase & Co. increased their target price on shares of Garmin from $155.00 to $175.00 and gave the stock a "neutral" rating in a research report on Thursday, May 2nd. Finally, Bank of America boosted their price target on shares of Garmin from $120.00 to $165.00 and gave the company a "neutral" rating in a report on Wednesday, April 3rd. Six research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $153.50.

Insider Buying and Selling at Garmin

In other Garmin news, VP Susan Lyman sold 2,587 shares of the stock in a transaction dated 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 owns 7,174 shares in the company, valued at approximately $969,781.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Susan Lyman sold 2,587 shares of Garmin stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $135.18, for a total value of $349,710.66. Following the sale, the vice president now owns 7,174 shares of the company's stock, valued at $969,781.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jonathan Burrell sold 15,000 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $140.00, for a total value of $2,100,000.00. Following the completion of the sale, the director now directly owns 758,834 shares of the company's stock, valued at approximately $106,236,760. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 99,476 shares of company stock valued at $14,166,944. 19.54% of the stock is currently owned by corporate insiders.

Garmin Stock Performance

Shares of Garmin stock remained flat at $169.96 during midday trading on Wednesday. 542,069 shares of the stock were exchanged, compared to its average volume of 955,758. Garmin Ltd. has a fifty-two week low of $99.61 and a fifty-two week high of $170.87. The stock has a market capitalization of $32.65 billion, a P/E ratio of 23.95, a price-to-earnings-growth ratio of 5.31 and a beta of 0.99. The firm has a 50 day moving average of $146.59 and a 200 day moving average of $130.52.

Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings data on Wednesday, May 1st. The scientific and technical instruments company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.42. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.25 billion. Garmin had a net margin of 24.96% and a return on equity of 17.26%. Garmin's quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.02 EPS. As a group, research analysts expect that Garmin Ltd. will post 5.58 EPS for the current year.

Garmin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.00 annualized dividend and a yield of 1.77%. Garmin's dividend payout ratio (DPR) is currently 41.18%.

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.

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