Metis Global Partners LLC Has $1.11 Million Stock Holdings in Garmin Ltd. (NYSE:GRMN)

Metis Global Partners LLC cut its position in shares of Garmin Ltd. (NYSE:GRMN) by 2.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,595 shares of the scientific and technical instruments company’s stock after selling 222 shares during the period. Metis Global Partners LLC’s holdings in Garmin were worth $1,105,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Garmin by 36.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,586 shares of the scientific and technical instruments company’s stock worth $6,689,000 after buying an additional 16,957 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Garmin by 1.2% during the 3rd quarter. Mackenzie Financial Corp now owns 63,685 shares of the scientific and technical instruments company’s stock worth $6,592,000 after buying an additional 748 shares during the period. Strs Ohio boosted its holdings in shares of Garmin by 3.1% during the 3rd quarter. Strs Ohio now owns 18,837 shares of the scientific and technical instruments company’s stock worth $1,981,000 after buying an additional 572 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Garmin by 6.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 298,473 shares of the scientific and technical instruments company’s stock worth $31,399,000 after buying an additional 18,591 shares during the period. Finally, Advisor Partners II LLC boosted its holdings in shares of Garmin by 20.1% during the 3rd quarter. Advisor Partners II LLC now owns 10,359 shares of the scientific and technical instruments company’s stock worth $1,090,000 after buying an additional 1,735 shares during the period. 73.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Barrington Research lifted their target price on shares of Garmin from $119.00 to $140.00 and gave the stock an “equal weight” rating in a report on Thursday, February 22nd. StockNews.com downgraded shares of Garmin from a “buy” rating to a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of Garmin from $155.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Tigress Financial reissued a “strong-buy” rating and issued a $175.00 price objective (up previously from $165.00) on shares of Garmin in a report on Tuesday, February 27th. Finally, Barclays boosted their price objective on shares of Garmin from $140.00 to $166.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Six analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $153.50.

Insider Transactions at Garmin

In other news, CEO Clifton A. Pemble sold 1,622 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were 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 owns 159,319 shares of the company’s stock, valued at approximately $21,379,016.61. The sale was disclosed in a legal filing with the SEC, which is accessible 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 stock was sold at an average price of $134.19, for a total transaction of $217,656.18. Following the sale, the chief executive officer now owns 159,319 shares of the company’s stock, valued at approximately $21,379,016.61. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jonathan Burrell sold 15,000 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $140.00, for a total value of $2,100,000.00. Following the sale, the director now owns 758,834 shares in the company, valued at approximately $106,236,760. The disclosure for this sale can be found here. In the last 90 days, insiders sold 99,476 shares of company stock valued at $14,166,944. Company insiders own 19.54% of the company’s stock.

Garmin Stock Performance

Shares of Garmin stock opened at $169.96 on Thursday. The company has a 50 day moving average of $147.24 and a 200-day moving average of $130.80. Garmin Ltd. has a 1-year low of $99.61 and a 1-year high of $170.87. The company has a market cap of $32.65 billion, a PE ratio of 23.97, a price-to-earnings-growth ratio of 5.31 and a beta of 0.99.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, May 1st. The scientific and technical instruments company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.42. Garmin had a net margin of 24.96% and a return on equity of 17.26%. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the firm posted $1.02 EPS. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. Research analysts forecast that Garmin Ltd. will post 5.58 earnings per share for the current year.

Garmin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Friday, December 13th. Garmin’s dividend payout ratio (DPR) is presently 42.31%.

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.