Moody National Bank Trust Division Has $512,000 Position in Garmin Ltd. (NYSE:GRMN)

Moody National Bank Trust Division lowered its position in shares of Garmin Ltd. (NYSE:GRMNFree Report) by 53.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,982 shares of the scientific and technical instruments company’s stock after selling 4,514 shares during the quarter. Moody National Bank Trust Division’s holdings in Garmin were worth $512,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. American Century Companies Inc. boosted its holdings in shares of Garmin by 9.6% in the first quarter. American Century Companies Inc. now owns 9,116 shares of the scientific and technical instruments company’s stock valued at $1,081,000 after buying an additional 798 shares during the period. Private Advisor Group LLC boosted its holdings in shares of Garmin by 17.5% in the first quarter. Private Advisor Group LLC now owns 2,831 shares of the scientific and technical instruments company’s stock valued at $336,000 after buying an additional 422 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Garmin by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,329 shares of the scientific and technical instruments company’s stock valued at $2,411,000 after buying an additional 1,259 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Garmin by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,475,149 shares of the scientific and technical instruments company’s stock valued at $174,989,000 after buying an additional 11,011 shares during the period. Finally, Sei Investments Co. boosted its holdings in shares of Garmin by 378.8% in the first quarter. Sei Investments Co. now owns 37,785 shares of the scientific and technical instruments company’s stock valued at $4,414,000 after buying an additional 29,893 shares during the period. Institutional investors and hedge funds own 63.26% of the company’s stock.

Garmin Trading Down 0.6 %

NYSE GRMN opened at $147.29 on Friday. The firm’s fifty day moving average price is $131.67 and its two-hundred day moving average price is $120.66. Garmin Ltd. has a 1 year low of $94.33 and a 1 year high of $149.42. The firm has a market capitalization of $28.25 billion, a P/E ratio of 21.95, a price-to-earnings-growth ratio of 4.83 and a beta of 0.97.

Garmin (NYSE:GRMNGet Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The scientific and technical instruments company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.32. Garmin had a net margin of 24.67% and a return on equity of 16.60%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the firm posted $1.35 earnings per share. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, research analysts anticipate that Garmin Ltd. will post 5.43 EPS for the current fiscal year.

Garmin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Friday, December 13th. Garmin’s dividend payout ratio (DPR) is currently 43.52%.

Insiders Place Their Bets

In other news, VP Susan Lyman sold 2,587 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $135.18, for a total value of $349,710.66. Following the transaction, the vice president now directly owns 7,174 shares of the company’s stock, valued at $969,781.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Clifton A. Pemble sold 1,622 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $134.19, for a total value of $217,656.18. Following the transaction, the chief executive officer now directly owns 159,319 shares in the company, valued at $21,379,016.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Susan Lyman sold 2,587 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $135.18, for a total transaction of $349,710.66. Following the completion of the transaction, the vice president now owns 7,174 shares in the company, valued at $969,781.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 99,476 shares of company stock valued at $14,166,944. 19.89% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. cut shares of Garmin from an “overweight” rating to a “neutral” rating and set a $135.00 price target for the company. in a report on Monday, January 8th. Tigress Financial reissued a “strong-buy” rating and issued a $175.00 price objective (up previously from $165.00) on shares of Garmin in a research report on Tuesday, February 27th. Barrington Research boosted their price objective on shares of Garmin from $119.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 22nd. Finally, StockNews.com lowered shares of Garmin from a “buy” rating to a “hold” rating in a research report on Tuesday, March 5th. Seven equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Garmin has a consensus rating of “Hold” and an average target price of $131.50.

Read Our Latest Report on Garmin

About Garmin

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Garmin (NYSE:GRMN)

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