2,655 Shares in Garmin Ltd. (NYSE:GRMN) Purchased by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC purchased a new position in Garmin Ltd. (NYSE:GRMN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,655 shares of the scientific and technical instruments company’s stock, valued at approximately $341,000.

A number of other hedge funds also recently bought and sold shares of GRMN. Avior Wealth Management LLC boosted its stake in Garmin by 169.5% in the 3rd quarter. Avior Wealth Management LLC now owns 283 shares of the scientific and technical instruments company’s stock worth $30,000 after purchasing an additional 178 shares in the last quarter. Clear Street Markets LLC boosted its stake in Garmin by 107.1% in the 1st quarter. Clear Street Markets LLC now owns 321 shares of the scientific and technical instruments company’s stock worth $32,000 after purchasing an additional 166 shares in the last quarter. Headinvest LLC bought a new position in Garmin in the 3rd quarter worth about $41,000. Industrial Alliance Investment Management Inc. bought a new position in Garmin in the 4th quarter worth about $53,000. Finally, Resurgent Financial Advisors LLC bought a new position in Garmin in the 4th quarter worth about $54,000. Institutional investors own 73.41% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity

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

Garmin Stock Up 0.6 %

NYSE GRMN opened at $148.93 on Friday. Garmin Ltd. has a 52 week low of $94.89 and a 52 week high of $149.54. The firm has a market capitalization of $28.56 billion, a P/E ratio of 22.20, a PEG ratio of 4.85 and a beta of 0.97. The company has a 50-day moving average price of $133.59 and a 200-day moving average price of $121.89.

Garmin (NYSE:GRMN) last released its quarterly earnings results on Wednesday, February 21st. The scientific and technical instruments company reported $1.72 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the prior year, the firm earned $1.35 EPS. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Garmin Ltd. will post 5.43 EPS for the current year.

Garmin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders 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 dividend yield of 2.01%. The ex-dividend date is Friday, December 13th. Garmin’s payout ratio is currently 43.52%.

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.