SRS Capital Advisors Inc. Buys 102 Shares of Garmin Ltd. (NYSE:GRMN)

SRS Capital Advisors Inc. grew its stake in Garmin Ltd. (NYSE:GRMN) by 49.3% in the 4th quarter, Holdings Channel reports. The firm owned 309 shares of the scientific and technical instruments company’s stock after purchasing an additional 102 shares during the period. SRS Capital Advisors Inc.’s holdings in Garmin were worth $64,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Golden State Wealth Management LLC purchased a new position in shares of Garmin during the fourth quarter valued at about $26,000. Pinnacle Bancorp Inc. bought a new stake in Garmin during the 4th quarter valued at approximately $29,000. SOA Wealth Advisors LLC. purchased a new position in shares of Garmin during the 4th quarter worth approximately $37,000. Larson Financial Group LLC raised 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 acquiring an additional 162 shares in the last quarter. Finally, Kentucky Trust Co bought a new position in shares of Garmin in the 4th quarter worth approximately $41,000. 81.60% of the stock is currently owned by institutional investors.

Garmin Price Performance

GRMN opened at $221.86 on Friday. The firm has a market cap of $42.69 billion, a PE ratio of 30.35, a P/E/G ratio of 1.36 and a beta of 0.98. The stock has a 50-day moving average price of $216.07 and a 200-day moving average price of $199.03. Garmin Ltd. has a 1 year low of $138.86 and a 1 year high of $246.50.

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

Garmin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Friday, March 13th. Garmin’s payout ratio is 41.04%.

Insider Transactions at Garmin

In related news, CFO Douglas G. Boessen sold 1,761 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $207.99, for a total value of $366,270.39. Following the sale, the chief financial officer now owns 27,612 shares in the company, valued at approximately $5,743,019.88. This trade represents a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Matthew Munn sold 4,637 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $225.31, for a total transaction of $1,044,762.47. Following the sale, the director now owns 11,450 shares of the company’s stock, valued at approximately $2,579,799.50. This represents a 28.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,274 shares of company stock worth $5,242,686 over the last quarter. 19.54% of the stock is currently owned by insiders.

Analyst Ratings Changes

GRMN has been the topic of several research reports. Morgan Stanley upgraded Garmin to a “sell” rating and lifted their price target for the company from $164.00 to $171.00 in a research report on Tuesday, February 11th. Tigress Financial upped their target price on shares of Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, February 26th. Barclays increased their price target on shares of Garmin from $158.00 to $188.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Garmin from $219.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Three research 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.