Garmin Ltd. (NYSE:GRMN) Shares Bought by Occudo Quantitative Strategies LP

Occudo Quantitative Strategies LP grew its stake in Garmin Ltd. (NYSE:GRMN - Free Report) by 169.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,941 shares of the scientific and technical instruments company's stock after acquiring an additional 11,278 shares during the quarter. Garmin comprises approximately 0.7% of Occudo Quantitative Strategies LP's investment portfolio, making the stock its 22nd biggest position. Occudo Quantitative Strategies LP's holdings in Garmin were worth $3,701,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of GRMN. Geneos Wealth Management Inc. grew its stake in shares of Garmin by 1.7% in the 4th 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 lifted its holdings in Garmin by 1.3% in 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 acquiring an additional 50 shares during the last quarter. Larson Financial Group LLC grew its position in Garmin by 26.8% in the fourth quarter. Larson Financial Group LLC now owns 241 shares of the scientific and technical instruments company's stock worth $50,000 after acquiring an additional 51 shares during the period. Addison Advisors LLC increased its stake 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 worth $108,000 after acquiring an additional 52 shares during the last quarter. Finally, HB Wealth Management LLC raised its position in Garmin by 1.4% in 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 during the period. Hedge funds and other institutional investors own 81.60% of the company's stock.

Insider Activity at Garmin

In other Garmin news, CEO Clifton A. Pemble sold 7,202 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $227.14, for a total transaction of $1,635,862.28. Following the transaction, the chief executive officer now directly owns 149,525 shares in the company, valued at approximately $33,963,108.50. This represents a 4.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Patrick Desbois sold 6,911 shares of the company'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 value 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 approximately $14,321,353.20. This represents a 9.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,342 shares of company stock worth $5,486,094 in the last quarter. Company insiders own 15.38% of the company's stock.

Garmin Stock Performance

Shares of Garmin stock traded up $3.19 during trading hours on Friday, reaching $205.11. 682,897 shares of the company were exchanged, compared to its average volume of 880,319. The firm has a market cap of $39.49 billion, a PE ratio of 28.06, a PEG ratio of 1.36 and a beta of 0.99. Garmin Ltd. has a 1 year low of $158.38 and a 1 year high of $246.50. The stock's fifty day moving average is $198.58 and its 200 day moving average is $208.23.

Garmin (NYSE:GRMN - Get Free Report) last posted its quarterly earnings results 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). Garmin had a net margin of 22.42% and a return on equity of 19.31%. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the business earned $1.42 EPS. Garmin's revenue for the quarter was up 11.1% on a year-over-year basis. Research analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued 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 1.76%. Garmin's payout ratio is 47.37%.

Wall Street Analysts Forecast Growth

GRMN has been the subject of a number of recent analyst reports. Tigress Financial raised their price objective on Garmin from $265.00 to $285.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, February 26th. Morgan Stanley increased their target price 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. Barclays reduced their price target on shares of Garmin from $188.00 to $152.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Garmin from $220.00 to $215.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $194.80.

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.