11,663 Shares in Garmin Ltd. (NYSE:GRMN) Bought by Intech Investment Management LLC

Intech Investment Management LLC purchased a new position in shares of Garmin Ltd. (NYSE:GRMN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 11,663 shares of the scientific and technical instruments company’s stock, valued at approximately $2,406,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new stake in Garmin during the 4th quarter worth $26,000. Pinnacle Bancorp Inc. bought a new stake in shares of Garmin in the 4th quarter worth about $29,000. SOA Wealth Advisors LLC. bought a new stake in shares of Garmin in the 4th quarter worth about $37,000. Larson Financial Group LLC increased its position in shares of Garmin by 578.6% in the 3rd quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 162 shares during the last quarter. Finally, Kentucky Trust Co bought a new stake in shares of Garmin in the 4th quarter worth about $41,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Insider Transactions at Garmin

In other news, COO Patrick Desbois sold 6,911 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $227.15, for a total transaction of $1,569,833.65. Following the sale, the chief operating officer now owns 63,048 shares in the company, valued at $14,321,353.20. The trade was a 9.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Clifton A. Pemble sold 7,202 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $227.14, for a total transaction of $1,635,862.28. Following the sale, the chief executive officer now owns 149,525 shares in the company, valued at $33,963,108.50. This represents a 4.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 24,342 shares of company stock valued at $5,486,094. Company insiders own 19.54% of the company’s stock.

Garmin Stock Performance

NYSE GRMN opened at $208.50 on Friday. The company has a 50-day simple moving average of $216.95 and a 200-day simple moving average of $201.33. The firm has a market capitalization of $40.12 billion, a PE ratio of 28.52, a price-to-earnings-growth ratio of 1.36 and a beta of 0.96. Garmin Ltd. has a one year low of $138.86 and a one year high of $246.50.

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

Garmin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Friday, March 13th. Garmin’s dividend payout ratio is currently 41.04%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Morgan Stanley raised shares of Garmin to a “sell” rating and boosted their target price for the stock from $164.00 to $171.00 in a research report on Tuesday, February 11th. Tigress Financial lifted their price target on shares of Garmin from $265.00 to $285.00 and gave the company a “strong-buy” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price target on shares of Garmin from $219.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Finally, Barclays lifted their price target on shares of Garmin from $158.00 to $188.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $210.80.

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.