Schnieders Capital Management LLC Invests $212,000 in Garmin Ltd. (NYSE:GRMN)

Schnieders Capital Management LLC purchased a new position in shares of Garmin Ltd. (NYSE:GRMN) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 1,026 shares of the scientific and technical instruments company’s stock, valued at approximately $212,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in GRMN. Golden State Wealth Management LLC bought a new stake in shares of Garmin during the fourth quarter worth about $26,000. Pinnacle Bancorp Inc. acquired a new position in shares of Garmin in the fourth quarter worth approximately $29,000. Larson Financial Group LLC lifted its stake in shares of Garmin by 578.6% in the third quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock worth $33,000 after acquiring an additional 162 shares during the period. SOA Wealth Advisors LLC. acquired a new position in shares of Garmin in the fourth quarter worth approximately $37,000. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Garmin in the third quarter worth approximately $39,000. 81.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GRMN shares. Morgan Stanley raised Garmin to a “sell” rating and lifted their price objective for the stock from $164.00 to $171.00 in a research note on Tuesday, February 11th. JPMorgan Chase & Co. lifted their price objective on Garmin from $219.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Tigress Financial lifted their price objective on Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a research note on Wednesday. Finally, Barclays lifted their price objective on Garmin from $158.00 to $188.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $210.80.

Insider Activity

In other news, CFO Douglas G. Boessen sold 1,761 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $207.99, for a total transaction of $366,270.39. Following the completion of the sale, the chief financial officer now owns 27,612 shares in the company, valued at $5,743,019.88. The trade was a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 19.54% of the company’s stock.

Garmin Stock Performance

Shares of GRMN opened at $226.39 on Thursday. Garmin Ltd. has a 52-week low of $134.01 and a 52-week high of $246.50. The business’s 50 day moving average price is $214.29 and its two-hundred day moving average price is $196.97. The firm has a market cap of $43.56 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 1.36 and a beta of 0.98.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.51. Garmin had a return on equity of 19.31% and a net margin of 22.42%. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period in the previous year, the firm earned $1.72 earnings per share. The company’s revenue was up 22.9% compared to the same quarter last year. Research analysts predict that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a dividend of $0.90 per share. The ex-dividend date is Friday, March 13th. This represents a $3.60 annualized dividend and a dividend yield of 1.59%. Garmin’s dividend payout ratio is 41.04%.

About Garmin

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.