Garmin Ltd. (NYSE:GRMN) Shares Acquired by Stephens Inc. AR

Stephens Inc. AR lifted its position in shares of Garmin Ltd. (NYSE:GRMNGet Rating) by 8.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,335 shares of the scientific and technical instruments company’s stock after buying an additional 395 shares during the quarter. Stephens Inc. AR’s holdings in Garmin were worth $633,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Garmin by 0.9% during the 4th quarter. BlackRock Inc. now owns 13,187,637 shares of the scientific and technical instruments company’s stock worth $1,795,761,000 after buying an additional 123,057 shares during the last quarter. State Street Corp raised its stake in Garmin by 1.7% in the 4th quarter. State Street Corp now owns 6,699,383 shares of the scientific and technical instruments company’s stock valued at $912,261,000 after purchasing an additional 111,459 shares during the last quarter. Bank of America Corp DE raised its stake in Garmin by 19.2% in the 4th quarter. Bank of America Corp DE now owns 5,696,813 shares of the scientific and technical instruments company’s stock valued at $775,734,000 after purchasing an additional 918,937 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Garmin by 3.4% in the 4th quarter. JPMorgan Chase & Co. now owns 2,062,504 shares of the scientific and technical instruments company’s stock valued at $280,850,000 after purchasing an additional 68,549 shares during the last quarter. Finally, Pictet Asset Management SA raised its stake in Garmin by 39.8% in the 4th quarter. Pictet Asset Management SA now owns 1,998,110 shares of the scientific and technical instruments company’s stock valued at $272,083,000 after purchasing an additional 568,572 shares during the last quarter. Institutional investors and hedge funds own 72.11% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GRMN. Tigress Financial boosted their target price on shares of Garmin from $205.00 to $208.00 in a research note on Friday, May 6th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Garmin from $160.00 to $150.00 in a research note on Thursday, April 28th. TheStreet downgraded shares of Garmin from a “b” rating to a “c+” rating in a research note on Wednesday, July 27th. Bank of America cut Garmin from a “buy” rating to a “neutral” rating and lowered their price target for the company from $137.00 to $109.00 in a report on Tuesday. Finally, JPMorgan Chase & Co. lowered their price target on Garmin from $140.00 to $120.00 and set a “maintains” rating for the company in a report on Thursday, July 28th. One research analyst has rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $136.60.

Insider Transactions at Garmin

In other news, CEO Clifton A. Pemble sold 16,089 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $97.81, for a total transaction of $1,573,665.09. Following the completion of the sale, the chief executive officer now owns 145,500 shares in the company, valued at approximately $14,231,355. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 21.39% of the company’s stock.

Garmin Price Performance

GRMN opened at $96.48 on Wednesday. Garmin Ltd. has a 12 month low of $92.31 and a 12 month high of $178.80. The stock has a market capitalization of $18.61 billion, a price-to-earnings ratio of 18.41, a price-to-earnings-growth ratio of 3.56 and a beta of 0.95. The business has a 50-day moving average of $100.50 and a two-hundred day moving average of $109.54.

Garmin (NYSE:GRMNGet Rating) last issued its earnings results on Wednesday, July 27th. The scientific and technical instruments company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.02. Garmin had a return on equity of 17.71% and a net margin of 20.31%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the previous year, the business earned $1.68 EPS. The company’s revenue for the quarter was down 6.5% on a year-over-year basis. Equities research analysts anticipate that Garmin Ltd. will post 4.89 earnings per share for the current year.

Garmin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date is Tuesday, March 14th. Garmin’s payout ratio is currently 55.73%.

Garmin Company Profile

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Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices in the Americas, the Asia Pacific, Australian Continent, Europe, the Middle East, and Africa. Its Fitness segment offers running and multi-sport watches; cycling products; activity tracking and smartwatch devices; and fitness and cycling accessories.

Further Reading

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Institutional Ownership by Quarter for Garmin (NYSE:GRMN)

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