Kestra Private Wealth Services LLC Grows Stake in Garmin Ltd. (NYSE:GRMN)

Kestra Private Wealth Services LLC boosted its position in Garmin Ltd. (NYSE:GRMN) by 3.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,610 shares of the scientific and technical instruments company’s stock after purchasing an additional 138 shares during the period. Kestra Private Wealth Services LLC’s holdings in Garmin were worth $593,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Wetzel Investment Advisors Inc. bought a new stake in shares of Garmin during the 4th quarter valued at $26,000. Blue Trust Inc. raised its holdings 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 acquiring an additional 99 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Garmin in the fourth quarter valued at about $51,000. Headinvest LLC bought a new position in shares of Garmin in the third quarter worth about $41,000. Finally, Lindbrook Capital LLC grew its position in shares of Garmin by 32.0% during the fourth quarter. Lindbrook Capital LLC now owns 466 shares of the scientific and technical instruments company’s stock worth $60,000 after purchasing an additional 113 shares in the last quarter. Hedge funds and other institutional investors own 73.41% of the company’s stock.

Insider Buying and Selling at Garmin

In other Garmin news, Director Jonathan Burrell sold 15,000 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $148.89, for a total transaction of $2,233,350.00. Following the completion of the sale, the director now directly owns 653,834 shares of the company’s stock, valued at $97,349,344.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Garmin news, VP Susan Lyman sold 2,587 shares of the stock in a transaction dated Monday, February 26th. The stock was 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 in the company, valued at $969,781.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jonathan Burrell sold 15,000 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $148.89, for a total value of $2,233,350.00. Following the sale, the director now owns 653,834 shares in the company, valued at approximately $97,349,344.26. The disclosure for this sale can be found here. Insiders have sold 99,476 shares of company stock worth $14,166,944 over the last quarter. Insiders own 19.89% of the company’s stock.

Garmin Price Performance

Shares of Garmin stock opened at $165.97 on Monday. Garmin Ltd. has a 1 year low of $99.56 and a 1 year high of $166.43. The stock has a market cap of $31.88 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 5.44 and a beta of 0.99. The firm’s 50-day moving average is $145.23 and its two-hundred day moving average is $129.61.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, May 1st. The scientific and technical instruments company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.42. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.25 billion. Garmin had a net margin of 24.96% and a return on equity of 17.26%. Garmin’s revenue was up 20.4% compared to the same quarter last year. During the same period last year, the company posted $1.02 earnings per share. On average, equities analysts expect that Garmin Ltd. will post 5.58 earnings per share for the current year.

Garmin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Friday, December 13th. Garmin’s payout ratio is currently 41.18%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Barrington Research boosted their price target on Garmin from $119.00 to $140.00 and gave the stock an “equal weight” rating in a report on Thursday, February 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Garmin from $155.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday. StockNews.com lowered Garmin from a “buy” rating to a “hold” rating in a research note on Thursday. Bank of America upped their price objective on Garmin from $120.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. Finally, Barclays boosted their target price on shares of Garmin from $140.00 to $166.00 and gave the company an “equal weight” rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $153.50.

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.