Garmin Ltd. (NYSE:GRMN) Shares Purchased by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. raised its holdings in Garmin Ltd. (NYSE:GRMN) by 299.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,139 shares of the scientific and technical instruments company’s stock after purchasing an additional 36,831 shares during the period. Crossmark Global Holdings Inc.’s holdings in Garmin were worth $8,006,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Clearstead Trust LLC acquired a new position in shares of Garmin in the 1st quarter valued at approximately $30,000. Frazier Financial Advisors LLC acquired a new position in shares of Garmin in the 4th quarter valued at approximately $33,000. Family Firm Inc. acquired a new position in shares of Garmin in the 2nd quarter valued at approximately $35,000. EdgeRock Capital LLC acquired a new position in shares of Garmin in the 4th quarter valued at approximately $53,000. Finally, West Oak Capital LLC acquired a new position in shares of Garmin in the 2nd quarter valued at approximately $53,000. 73.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on GRMN shares. StockNews.com raised Garmin from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Tigress Financial boosted their price target on Garmin from $175.00 to $210.00 and gave the company a “strong-buy” rating in a report on Tuesday, May 14th. Bank of America downgraded Garmin from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $165.00 to $150.00 in a report on Wednesday, May 22nd. JPMorgan Chase & Co. boosted their price target on Garmin from $155.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Finally, Barclays boosted their price target on Garmin from $140.00 to $166.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Garmin presently has an average rating of “Hold” and an average price target of $156.83.

Insider Activity

In other news, EVP Patrick Desbois sold 4,126 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was 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 of the company’s stock, valued at $9,551,530.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Patrick Desbois sold 4,126 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was 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 of the company’s stock, valued at $9,551,530.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Douglas G. Boessen sold 2,350 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $161.63, for a total value of $379,830.50. Following the sale, the chief financial officer now directly owns 28,010 shares of the company’s stock, valued at $4,527,256.30. The disclosure for this sale can be found here. Insiders sold a total of 16,618 shares of company stock valued at $2,851,673 over the last three months. Insiders own 19.54% of the company’s stock.

Garmin Trading Up 1.5 %

GRMN traded up $2.64 during trading on Friday, reaching $183.29. 1,179,739 shares of the company were exchanged, compared to its average volume of 839,992. The stock has a market cap of $35.21 billion, a P/E ratio of 25.85, a PEG ratio of 3.55 and a beta of 0.98. The firm has a 50 day moving average of $169.98 and a 200 day moving average of $157.43. Garmin Ltd. has a 52 week low of $99.61 and a 52 week high of $183.88.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.18. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.42 billion. Garmin had a return on equity of 17.09% and a net margin of 24.36%. The company’s revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.45 earnings per share. As a group, analysts forecast that Garmin Ltd. will post 6 earnings per share for the current fiscal year.

Garmin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Friday, March 14th. Garmin’s dividend payout ratio is 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.