1,550 Shares in Garmin Ltd. (NYSE:GRMN) Purchased by Westbourne Investments Inc.

Westbourne Investments Inc. bought a new position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,550 shares of the scientific and technical instruments company's stock, valued at approximately $320,000.

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

Insider Buying and Selling at Garmin

In related news, VP Susan Lyman sold 2,829 shares of Garmin stock in a transaction on Monday, March 10th. The shares were sold at an average price of $215.51, for a total value of $609,677.79. Following the sale, the vice president now owns 8,432 shares in the company, valued at $1,817,180.32. The trade was a 25.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Patrick Desbois sold 6,911 shares of the company's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $227.15, for a total transaction of $1,569,833.65. Following the completion of the transaction, the chief operating officer now owns 63,048 shares of the company's stock, valued at $14,321,353.20. This trade represents a 9.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,342 shares of company stock worth $5,486,094. 19.54% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on GRMN. Morgan Stanley raised their price target on Garmin from $159.00 to $172.00 and gave the company an "underweight" rating in a report on Thursday. JPMorgan Chase & Co. cut their price target on shares of Garmin from $220.00 to $215.00 and set a "neutral" rating for the company in a research note on Thursday. Tigress Financial raised their price objective 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. Finally, Barclays cut their target price on shares of Garmin from $188.00 to $152.00 and set an "underweight" rating for the company in a research report on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $194.80.

Garmin Price Performance

NYSE GRMN traded down $1.99 during trading on Monday, hitting $189.79. 871,756 shares of the company's stock traded hands, compared to its average volume of 874,880. The stock has a fifty day moving average of $203.74 and a two-hundred day moving average of $206.95. Garmin Ltd. has a 12-month low of $158.38 and a 12-month high of $246.50. The firm has a market cap of $36.56 billion, a P/E ratio of 25.96, a PEG ratio of 1.36 and a beta of 0.99.

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 the consensus estimate of $1.62 by ($0.01). The company 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.42 earnings per share. As a group, analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Friday, March 13th. Garmin's dividend payout ratio (DPR) is presently 47.37%.

Garmin 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.