Garmin Ltd. (NYSE:GRMN) Shares Purchased by Lindbrook Capital LLC

Lindbrook Capital LLC increased its position in shares of Garmin Ltd. (NYSE:GRMN) by 32.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 466 shares of the scientific and technical instruments company’s stock after purchasing an additional 113 shares during the period. Lindbrook Capital LLC’s holdings in Garmin were worth $60,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Wetzel Investment Advisors Inc. acquired a new position in Garmin in the fourth quarter valued at $26,000. Avior Wealth Management LLC boosted its stake in Garmin by 169.5% in the third quarter. Avior Wealth Management LLC now owns 283 shares of the scientific and technical instruments company’s stock valued at $30,000 after acquiring an additional 178 shares in the last quarter. Headinvest LLC acquired a new position in Garmin in the third quarter valued at $41,000. Blue Trust Inc. boosted its stake in Garmin by 35.2% in the fourth quarter. Blue Trust Inc. now owns 380 shares of the scientific and technical instruments company’s stock valued at $49,000 after acquiring an additional 99 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in Garmin in the fourth quarter valued at $51,000. Institutional investors and hedge funds own 73.41% of the company’s stock.

Insider Buying and Selling

In other Garmin news, Director Jonathan Burrell sold 15,000 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $146.15, for a total value of $2,192,250.00. Following the completion of the transaction, the director now directly owns 623,834 shares of the company’s stock, valued at $91,173,339.10. The sale was disclosed in a filing with the SEC, which is available at this link. In other Garmin news, Director Jonathan Burrell sold 15,000 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $146.15, for a total value of $2,192,250.00. Following the completion of the transaction, the director now directly owns 623,834 shares of the company’s stock, valued at $91,173,339.10. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 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 over the last ninety days. Corporate insiders own 19.89% of the company’s stock.

Garmin Stock Up 0.2 %

NYSE GRMN opened at $143.03 on Friday. The stock has a market capitalization of $27.43 billion, a P/E ratio of 21.32, a P/E/G ratio of 4.68 and a beta of 0.98. Garmin Ltd. has a 52-week low of $94.89 and a 52-week high of $149.54. The firm has a 50-day moving average price of $142.08 and a 200 day moving average price of $127.32.

Garmin (NYSE:GRMN) 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. The firm 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 firm’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.35 earnings per share. On average, equities research analysts expect that Garmin Ltd. will post 5.45 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a dividend of $0.75 per share. The ex-dividend date is Friday, December 13th. This represents a $3.00 annualized dividend and a yield of 2.10%. Garmin’s dividend payout ratio is currently 43.52%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GRMN. Tigress Financial restated a “strong-buy” rating and issued a $175.00 price objective (up previously from $165.00) on shares of Garmin in a research note on Tuesday, February 27th. StockNews.com upgraded shares of Garmin from a “hold” rating to a “buy” rating in a research note on Tuesday. Barrington Research upped their target price on shares of Garmin from $119.00 to $140.00 and gave the company an “equal weight” rating in a report on Thursday, February 22nd. JPMorgan Chase & Co. upped their target price on shares of Garmin from $139.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Finally, 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 report on Wednesday, April 3rd. Five 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 stock. Based on data from MarketBeat.com, Garmin presently has a consensus rating of “Hold” and a consensus price target of $142.33.

Garmin 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.