Stevens Capital Management LP Has $559,000 Stake in Garmin Ltd. (NYSE:GRMN)

Stevens Capital Management LP raised its position in Garmin Ltd. (NYSE:GRMN) by 55.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,708 shares of the scientific and technical instruments company’s stock after buying an additional 968 shares during the quarter. Stevens Capital Management LP’s holdings in Garmin were worth $559,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of GRMN. Golden State Wealth Management LLC bought a new position in Garmin in the 4th quarter valued at about $26,000. Pinnacle Bancorp Inc. bought a new position in Garmin in the 4th quarter valued at about $29,000. Larson Financial Group LLC grew its holdings in shares of Garmin by 578.6% during the 3rd quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock valued at $33,000 after purchasing an additional 162 shares during the last quarter. SOA Wealth Advisors LLC. bought a new stake in shares of Garmin during the 4th quarter valued at approximately $37,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Garmin during the 3rd quarter valued at approximately $39,000. 81.60% of the stock is owned by institutional investors.

Garmin Price Performance

GRMN opened at $209.78 on Monday. Garmin Ltd. has a fifty-two week low of $138.86 and a fifty-two week high of $246.50. The firm has a market capitalization of $40.36 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 1.36 and a beta of 0.96. The company’s 50 day moving average price is $216.96 and its two-hundred day moving average price is $201.81.

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, topping analysts’ consensus estimates of $1.90 by $0.51. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.70 billion. Garmin had a net margin of 22.42% and a return on equity of 19.31%. The company’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.72 EPS. As a group, equities research analysts predict that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be given a $0.90 dividend. The ex-dividend date is Friday, March 13th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.72%. Garmin’s dividend payout ratio (DPR) is currently 49.25%.

Insider Transactions at Garmin

In related news, VP Susan Lyman sold 2,829 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $215.51, for a total transaction of $609,677.79. Following the transaction, the vice president now owns 8,432 shares in the company, valued at $1,817,180.32. The trade was a 25.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Clifton A. Pemble sold 7,202 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $227.14, for a total transaction of $1,635,862.28. Following the transaction, the chief executive officer now owns 149,525 shares in the company, valued at approximately $33,963,108.50. The trade was a 4.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,342 shares of company stock worth $5,486,094. Company insiders own 19.54% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on GRMN shares. 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. 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, Morgan Stanley raised shares of Garmin to a “sell” rating and lifted their price target for the company from $164.00 to $171.00 in a report on Tuesday, February 11th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $210.80.

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.