31,524 Shares in Garmin Ltd. (NYSE:GRMN) Purchased by Voleon Capital Management LP

Voleon Capital Management LP acquired a new position in Garmin Ltd. (NYSE:GRMN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 31,524 shares of the scientific and technical instruments company's stock, valued at approximately $6,502,000.

Other large investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Garmin during the 4th quarter worth approximately $396,184,000. Northern Trust Corp grew its stake in Garmin by 20.2% in the fourth quarter. Northern Trust Corp now owns 1,708,495 shares of the scientific and technical instruments company's stock worth $352,394,000 after purchasing an additional 286,765 shares during the period. Vanguard Group Inc. raised its holdings in Garmin by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 18,067,708 shares of the scientific and technical instruments company's stock worth $3,726,645,000 after purchasing an additional 215,344 shares in the last quarter. Allianz Asset Management GmbH lifted its position in Garmin by 32.2% during the fourth quarter. Allianz Asset Management GmbH now owns 675,950 shares of the scientific and technical instruments company's stock valued at $139,421,000 after buying an additional 164,818 shares during the period. Finally, Teacher Retirement System of Texas boosted its holdings in shares of Garmin by 79.3% during the 4th quarter. Teacher Retirement System of Texas now owns 361,490 shares of the scientific and technical instruments company's stock valued at $74,561,000 after buying an additional 159,860 shares in the last quarter. Institutional investors own 81.60% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Barclays lowered their price target on shares of Garmin from $188.00 to $152.00 and set an "underweight" rating for the company in a research report on Wednesday. JPMorgan Chase & Co. dropped their price target on Garmin from $220.00 to $215.00 and set a "neutral" rating on the stock in a research report on Thursday. Tigress Financial raised their price objective on Garmin from $265.00 to $285.00 and gave the company a "strong-buy" rating in a research report on Wednesday, February 26th. Finally, Morgan Stanley boosted their target price on Garmin from $159.00 to $172.00 and gave the stock an "underweight" rating in a report on Thursday. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Garmin has a consensus rating of "Hold" and a consensus price target of $194.80.

Insider Transactions at Garmin

In other Garmin news, CEO Clifton A. Pemble sold 7,202 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $227.14, for a total transaction of $1,635,862.28. Following the completion of the sale, 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 document filed with the SEC, which is accessible through the SEC website. Also, CFO Douglas G. Boessen sold 2,763 shares of Garmin stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $226.55, for a total value of $625,957.65. Following the transaction, the chief financial officer now directly owns 30,936 shares in the company, valued at approximately $7,008,550.80. The trade was a 8.20 % decrease in their ownership of the stock. 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 19.54% of the company's stock.

Garmin Stock Performance

Shares of GRMN stock traded up $4.92 during trading hours on Friday, reaching $191.70. The company had a trading volume of 826,626 shares, compared to its average volume of 875,286. The firm has a market cap of $36.93 billion, a PE ratio of 26.22, a price-to-earnings-growth ratio of 1.36 and a beta of 0.99. The business has a fifty day moving average price of $203.74 and a 200-day moving average price of $206.39. Garmin Ltd. has a one year low of $158.38 and a one year high of $246.50.

Garmin (NYSE:GRMN - Get Free Report) last announced its earnings results on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 earnings per share 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 for the quarter, compared to analysts' expectations of $1.50 billion. During the same quarter in the prior year, the firm posted $1.42 earnings per share. Garmin's quarterly revenue was up 11.1% on a year-over-year basis. Equities research analysts forecast that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Friday, March 13th. Garmin's payout ratio is currently 47.37%.

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.