Garmin Ltd. (NYSE:GRMN) Shares Bought by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. raised its stake in Garmin Ltd. (NYSE:GRMN) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 73,227 shares of the scientific and technical instruments company’s stock after purchasing an additional 300 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Garmin were worth $9,413,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Avior Wealth Management LLC boosted its stake in Garmin by 169.5% during the 3rd quarter. Avior Wealth Management LLC now owns 283 shares of the scientific and technical instruments company’s stock valued at $30,000 after purchasing an additional 178 shares during the period. Clear Street Markets LLC grew its position in Garmin by 107.1% during the first quarter. Clear Street Markets LLC now owns 321 shares of the scientific and technical instruments company’s stock valued at $32,000 after purchasing an additional 166 shares in the last quarter. Blue Trust Inc. grew its position in Garmin by 35.2% during the fourth quarter. Blue Trust Inc. now owns 380 shares of the scientific and technical instruments company’s stock valued at $49,000 after purchasing an additional 99 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in Garmin in the fourth quarter worth approximately $51,000. Finally, Headinvest LLC bought a new stake in Garmin in the third quarter worth approximately $41,000. Hedge funds and other institutional investors own 73.41% of the company’s stock.

Garmin Stock Performance

Shares of GRMN stock opened at $141.61 on Tuesday. The company has a market capitalization of $27.16 billion, a P/E ratio of 21.10, a price-to-earnings-growth ratio of 4.69 and a beta of 0.98. The company’s 50 day moving average price is $139.04 and its two-hundred day moving average price is $125.55. Garmin Ltd. has a 52 week low of $94.89 and a 52 week high of $149.54.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, February 21st. The scientific and technical instruments company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.32. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Garmin had a net margin of 24.67% and a return on equity of 16.60%. The business’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period last year, the business earned $1.35 EPS. Analysts forecast that Garmin Ltd. will post 5.45 earnings per share 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 paid a dividend of $0.75 per share. The ex-dividend date is Friday, December 13th. This represents a $3.00 annualized dividend and a dividend yield of 2.12%. Garmin’s dividend payout ratio is currently 43.52%.

Insider Transactions at Garmin

In other news, VP Susan Lyman sold 2,587 shares of the firm’s stock in a transaction that occurred on 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 directly owns 7,174 shares of the company’s stock, valued at approximately $969,781.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Clifton A. Pemble sold 1,622 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $134.19, for a total value of $217,656.18. Following the completion of the transaction, the chief executive officer now directly owns 159,319 shares of the company’s stock, valued at $21,379,016.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $349,710.66. Following the completion of the transaction, the vice president now directly owns 7,174 shares of the company’s stock, valued at $969,781.32. 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 ninety days. 19.89% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

GRMN has been the subject of a number of analyst reports. Tigress Financial restated a “strong-buy” rating and issued a $175.00 price objective (up from $165.00) on shares of Garmin in a research note 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 note on Thursday, February 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Garmin from $139.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Bank of America upped their target price on shares of Garmin from $120.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Finally, StockNews.com upgraded shares of Garmin from a “hold” rating to a “buy” rating in a research note on Thursday, April 11th. Six research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $142.33.

Garmin Company Profile

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.