Geneos Wealth Management Inc. Has $318,000 Stock Position in Garmin Ltd. (NYSE:GRMN)

Geneos Wealth Management Inc. reduced its holdings in Garmin Ltd. (NYSE:GRMN) by 19.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,471 shares of the scientific and technical instruments company’s stock after selling 580 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Garmin were worth $318,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its position in Garmin by 213.5% in the 4th quarter. Pacer Advisors Inc. now owns 41,557 shares of the scientific and technical instruments company’s stock valued at $5,342,000 after acquiring an additional 28,301 shares during the period. Envestnet Asset Management Inc. increased its position in Garmin by 42.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 125,389 shares of the scientific and technical instruments company’s stock valued at $13,191,000 after acquiring an additional 37,532 shares during the period. SteelPeak Wealth LLC increased its position in Garmin by 369.6% in the 4th quarter. SteelPeak Wealth LLC now owns 14,087 shares of the scientific and technical instruments company’s stock valued at $1,811,000 after acquiring an additional 11,087 shares during the period. Vontobel Holding Ltd. increased its position in Garmin by 62.7% in the 3rd quarter. Vontobel Holding Ltd. now owns 57,449 shares of the scientific and technical instruments company’s stock valued at $6,044,000 after acquiring an additional 22,130 shares during the period. Finally, Pinnacle Wealth Management LLC acquired a new position in Garmin in the 4th quarter valued at approximately $1,536,000. 73.41% of the stock is currently owned by institutional investors and hedge funds.

Garmin Stock Down 2.0 %

Shares of NYSE GRMN opened at $143.11 on Friday. The firm has a market cap of $27.45 billion, a PE ratio of 21.33, a P/E/G ratio of 4.79 and a beta of 0.98. Garmin Ltd. has a 12-month low of $94.89 and a 12-month high of $149.54. The company’s fifty day simple moving average is $138.61 and its 200 day simple moving average is $125.14.

Garmin (NYSE:GRMN) last released its quarterly earnings data on Wednesday, February 21st. The scientific and technical instruments company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates 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 last year, the firm earned $1.35 earnings per share. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, equities analysts predict that Garmin Ltd. will post 5.45 earnings per share for the current year.

Garmin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Friday, December 13th. Garmin’s dividend payout ratio (DPR) is 43.52%.

Insider Buying and Selling at Garmin

In other Garmin news, VP Susan Lyman sold 2,587 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 7,174 shares of the company’s stock, valued at $969,781.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Jonathan Burrell sold 15,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $140.00, for a total transaction of $2,100,000.00. Following the transaction, the director now directly owns 758,834 shares of the company’s stock, valued at $106,236,760. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Susan Lyman sold 2,587 shares of the firm’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 transaction, the vice president now directly 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. Corporate insiders own 19.89% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on GRMN shares. JPMorgan Chase & Co. increased their price objective on shares of Garmin from $139.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday. Barrington Research increased 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. StockNews.com upgraded shares of Garmin from a “hold” rating to a “buy” rating in a research report on Thursday. Tigress Financial reiterated a “strong-buy” rating and set a $175.00 price objective (up from $165.00) on shares of Garmin in a research report on Tuesday, February 27th. Finally, Bank of America increased their price objective on shares of Garmin from $120.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Six research 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 stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $142.33.

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.