4,011 Shares in Garmin Ltd. (NYSE:GRMN) Purchased by Fox Run Management L.L.C.

Fox Run Management L.L.C. purchased a new position in Garmin Ltd. (NYSE:GRMN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 4,011 shares of the scientific and technical instruments company’s stock, valued at approximately $827,000.

A number of other hedge funds also recently bought and sold shares of the company. KLP Kapitalforvaltning AS bought a new position in Garmin in the 4th quarter worth about $22,381,000. AXQ Capital LP bought a new position in Garmin in the 4th quarter worth about $1,010,000. Sei Investments Co. raised its position in Garmin by 55.3% in the 4th quarter. Sei Investments Co. now owns 256,712 shares of the scientific and technical instruments company’s stock worth $52,950,000 after buying an additional 91,402 shares during the last quarter. American Century Companies Inc. raised its position in Garmin by 4.9% in the 4th quarter. American Century Companies Inc. now owns 60,280 shares of the scientific and technical instruments company’s stock worth $12,433,000 after buying an additional 2,841 shares during the last quarter. Finally, Mizuho Securities USA LLC raised its position in Garmin by 46.0% in the 4th quarter. Mizuho Securities USA LLC now owns 14,560 shares of the scientific and technical instruments company’s stock worth $3,003,000 after buying an additional 4,589 shares during the last quarter. Institutional investors own 81.60% of the company’s stock.

Insider Buying and Selling

In related news, CEO Clifton A. Pemble sold 7,202 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $227.14, for a total value of $1,635,862.28. Following the completion of the sale, the chief executive officer now directly owns 149,525 shares of the company’s stock, valued at approximately $33,963,108.50. This represents a 4.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Susan Lyman sold 2,829 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $215.51, for a total transaction of $609,677.79. Following the completion of the sale, the vice president now directly owns 8,432 shares of the company’s stock, valued at $1,817,180.32. This represents a 25.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,342 shares of company stock valued at $5,486,094. 19.54% of the stock is owned by corporate insiders.

Garmin Stock Up 0.5 %

NYSE GRMN opened at $209.78 on Monday. Garmin Ltd. has a 52 week low of $138.86 and a 52 week high of $246.50. The firm has a market capitalization of $40.36 billion, a P/E ratio of 28.70, a PEG ratio of 1.36 and a beta of 0.96. The company has a 50-day moving average price of $216.96 and a 200-day moving average price of $201.81.

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

Garmin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Friday, March 13th. Garmin’s dividend payout ratio is 49.25%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GRMN. Barclays boosted their target price on Garmin from $158.00 to $188.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. Morgan Stanley raised 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. JPMorgan Chase & Co. boosted their target price on Garmin from $219.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Finally, Tigress Financial boosted their target price on Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, February 26th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus 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.