Raiffeisen Bank International AG Takes $2.63 Million Position in Garmin Ltd. (NYSE:GRMN)

Raiffeisen Bank International AG acquired a new stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 12,661 shares of the scientific and technical instruments company's stock, valued at approximately $2,627,000.

Several other institutional investors also recently modified their holdings of GRMN. Golden State Wealth Management LLC bought a new stake in shares of Garmin in the fourth quarter worth approximately $26,000. Aster Capital Management DIFC Ltd grew its position in Garmin by 864.3% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company's stock worth $28,000 after purchasing an additional 121 shares during the period. Pinnacle Bancorp Inc. purchased a new stake in Garmin during the 4th quarter valued at $29,000. SOA Wealth Advisors LLC. bought a new position in shares of Garmin during the 4th quarter valued at $37,000. Finally, Kentucky Trust Co purchased a new position in shares of Garmin in the 4th quarter worth $41,000. 81.60% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Clifton A. Pemble sold 7,202 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $227.14, for a total value of $1,635,862.28. Following the transaction, the chief executive officer now owns 149,525 shares of the company's stock, valued at approximately $33,963,108.50. The trade was a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Susan Lyman sold 2,829 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $215.51, for a total transaction of $609,677.79. Following the transaction, the vice president now directly owns 8,432 shares of the company's stock, valued at $1,817,180.32. The trade was a 25.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,342 shares of company stock worth $5,486,094. Corporate insiders own 15.38% of the company's stock.

Garmin Stock Performance

Shares of NYSE GRMN traded down $2.22 during trading on Wednesday, hitting $201.54. The company had a trading volume of 227,706 shares, compared to its average volume of 878,598. Garmin Ltd. has a 12 month low of $158.38 and a 12 month high of $246.50. The firm has a market capitalization of $38.81 billion, a P/E ratio of 27.65, a price-to-earnings-growth ratio of 1.36 and a beta of 0.99. The stock has a 50 day simple moving average of $198.09 and a 200 day simple moving average of $208.60.

Garmin (NYSE:GRMN - Get Free Report) last released its earnings results on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 EPS for the quarter, missing analysts' consensus estimates of $1.62 by ($0.01). The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.50 billion. Garmin had a return on equity of 19.31% and a net margin of 22.42%. Garmin's revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.42 EPS. As a group, analysts predict that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Friday, March 13th. Garmin's dividend payout ratio is currently 47.37%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. lowered their target price on Garmin from $220.00 to $215.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Tigress Financial upped their price target on shares of Garmin from $265.00 to $285.00 and gave the company a "strong-buy" rating in a research report on Wednesday, February 26th. Morgan Stanley raised their price objective on shares of Garmin from $159.00 to $172.00 and gave the stock an "underweight" rating in a report on Thursday, May 1st. Finally, Barclays reduced 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. 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. According to MarketBeat, Garmin currently has an average rating of "Hold" and an average 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.