SG Americas Securities LLC Boosts Position in Garmin Ltd. (NYSE:GRMN)

SG Americas Securities LLC increased its holdings in shares of Garmin Ltd. (NYSE:GRMNFree Report) by 184.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 198,100 shares of the scientific and technical instruments company’s stock after purchasing an additional 128,429 shares during the quarter. SG Americas Securities LLC owned approximately 0.10% of Garmin worth $29,491,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in GRMN. Wellington Management Group LLP increased its position in Garmin by 17.5% during the third quarter. Wellington Management Group LLP now owns 15,905 shares of the scientific and technical instruments company’s stock worth $1,673,000 after buying an additional 2,372 shares during the period. B. Riley Wealth Advisors Inc. raised its position in Garmin by 8.4% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 3,432 shares of the scientific and technical instruments company’s stock worth $361,000 after buying an additional 267 shares during the last quarter. Headinvest LLC acquired a new stake in shares of Garmin in the 3rd quarter worth $41,000. Arden Trust Co lifted its stake in shares of Garmin by 33.3% in the 4th quarter. Arden Trust Co now owns 2,710 shares of the scientific and technical instruments company’s stock worth $348,000 after acquiring an additional 677 shares during the period. Finally, First Affirmative Financial Network acquired a new stake in shares of Garmin in the 4th quarter worth $228,000. Institutional investors and hedge funds own 73.41% of the company’s stock.

Insider Buying and Selling at Garmin

In other news, EVP Patrick Desbois sold 4,126 shares of Garmin stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $163.52, for a total transaction of $674,683.52. Following the completion of the sale, the executive vice president now directly owns 58,412 shares in the company, valued at $9,551,530.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Patrick Desbois sold 4,126 shares of Garmin stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $163.52, for a total transaction of $674,683.52. Following the completion of the sale, the executive vice president now directly owns 58,412 shares in the company, valued at $9,551,530.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Douglas G. Boessen sold 2,350 shares of Garmin stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $161.63, for a total transaction of $379,830.50. Following the sale, the chief financial officer now owns 28,010 shares of the company’s stock, valued at $4,527,256.30. The disclosure for this sale can be found here. 19.54% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on GRMN. Barclays raised their target price on shares of Garmin from $140.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Tigress Financial raised their target price on shares of Garmin from $175.00 to $210.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, May 14th. StockNews.com upgraded shares of Garmin from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd. Bank of America cut shares of Garmin from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $165.00 to $150.00 in a research note on Wednesday, May 22nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Garmin from $155.00 to $175.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $156.83.

Check Out Our Latest Stock Analysis on Garmin

Garmin Stock Performance

NYSE:GRMN traded up $2.04 during mid-day trading on Friday, hitting $168.80. 734,151 shares of the company’s stock traded hands, compared to its average volume of 609,403. The firm’s 50 day simple moving average is $164.19 and its 200 day simple moving average is $145.52. Garmin Ltd. has a 1 year low of $99.61 and a 1 year high of $171.64. The company has a market cap of $32.42 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 3.59 and a beta of 0.98.

Garmin (NYSE:GRMNGet Free Report) last posted its earnings results on Wednesday, May 1st. The scientific and technical instruments company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.42. Garmin had a net margin of 24.96% and a return on equity of 17.26%. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the firm posted $1.02 EPS. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, research analysts expect that Garmin Ltd. will post 5.77 earnings per share for the current fiscal year.

Garmin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.00 annualized dividend and a yield of 1.78%. Garmin’s dividend payout ratio (DPR) is currently 42.31%.

Garmin Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding GRMN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Garmin Ltd. (NYSE:GRMNFree Report).

Institutional Ownership by Quarter for Garmin (NYSE:GRMN)

Receive News & Ratings for Garmin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Garmin and related companies with MarketBeat.com's FREE daily email newsletter.