Garmin Ltd. (NYSE:GRMN) Shares Purchased by HighTower Advisors LLC

HighTower Advisors LLC increased its position in shares of Garmin Ltd. (NYSE:GRMN – Get Rating) by 16.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,381 shares of the scientific and technical instruments company’s stock after acquiring an additional 6,417 shares during the period. HighTower Advisors LLC’s holdings in Garmin were worth $4,092,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of GRMN. U.S. Capital Wealth Advisors LLC acquired a new stake in Garmin in the 4th quarter valued at about $27,000. Ronald Blue Trust Inc. raised its position in Garmin by 45.2% in the 4th quarter. Ronald Blue Trust Inc. now owns 363 shares of the scientific and technical instruments company’s stock valued at $29,000 after purchasing an additional 113 shares in the last quarter. Dupont Capital Management Corp acquired a new stake in Garmin in the 3rd quarter valued at about $35,000. Allworth Financial LP raised its position in shares of Garmin by 119.2% during the 4th quarter. Allworth Financial LP now owns 388 shares of the scientific and technical instruments company’s stock worth $36,000 after acquiring an additional 211 shares in the last quarter. Finally, Creative Capital Management Investments LLC acquired a new stake in shares of Garmin during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 63.29% of the company’s stock.

Garmin Stock Down 0.2 %

NYSE:GRMN opened at $104.00 on Friday. The stock’s 50 day moving average price is $99.79 and its 200 day moving average price is $97.56. The company has a market capitalization of $19.89 billion, a PE ratio of 20.80, a P/E/G ratio of 3.55 and a beta of 0.94. Garmin Ltd. has a 52-week low of $76.37 and a 52-week high of $108.32.

Garmin (NYSE:GRMN – Get Rating) last announced its earnings results on Wednesday, May 3rd. The scientific and technical instruments company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.02. Garmin had a return on equity of 15.98% and a net margin of 19.94%. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the business posted $1.11 EPS. The company’s revenue was down 2.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Garmin Ltd. will post 5.22 EPS for the current fiscal year.

Garmin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Tuesday, June 20th will be paid a $0.73 dividend. The ex-dividend date is Friday, June 16th. This represents a $2.92 annualized dividend and a dividend yield of 2.81%. Garmin’s dividend payout ratio (DPR) is currently 58.40%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GRMN shares. JPMorgan Chase & Co. raised their target price on Garmin from $108.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, February 23rd. Barclays raised their target price on Garmin from $101.00 to $106.00 in a research report on Thursday, May 4th. KeyCorp started coverage on Garmin in a research report on Tuesday, April 18th. They set a “sector weight” rating on the stock. VNET Group reissued a “maintains” rating on shares of Garmin in a research report on Thursday, May 4th. Finally, Tigress Financial restated a “strong-buy” rating and set a $165.00 price target on shares of Garmin in a research note on Friday, March 3rd. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Garmin has a consensus rating of “Hold” and an average price target of $118.80.

Insider Buying and Selling at Garmin

In other Garmin news, Director Matthew Munn sold 4,536 shares of Garmin stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $98.36, for a total value of $446,160.96. Following the transaction, the director now directly owns 9,023 shares in the company, valued at approximately $887,502.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Matthew Munn sold 4,536 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $98.36, for a total value of $446,160.96. Following the completion of the sale, the director now directly owns 9,023 shares of the company’s stock, valued at approximately $887,502.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sean Biddlecombe sold 867 shares of the firm’s stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $98.71, for a total value of $85,581.57. Following the completion of the sale, the director now directly owns 6,130 shares of the company’s stock, valued at $605,092.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,610 shares of company stock worth $1,635,921. 20.34% of the stock is currently owned by insiders.

Garmin Company Profile

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Garmin Ltd. is a holding company, which engages in the provision of navigation, communications and information devices, most of which are enabled by Global Positioning System (GPS) technology. It operates through the following segments: Marine, Outdoor, Fitness, Auto OEM, Consumer Auto, and Aviation.