1,517 Shares in Garmin Ltd. (NYSE:GRMN) Purchased by Petros Family Wealth LLC

Petros Family Wealth LLC acquired a new stake in shares of Garmin Ltd. (NYSE:GRMN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,517 shares of the scientific and technical instruments company’s stock, valued at approximately $313,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new stake in shares of Garmin in the 4th quarter valued at about $26,000. Aster Capital Management DIFC Ltd increased its holdings in Garmin by 864.3% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company’s stock valued at $28,000 after buying an additional 121 shares during the last quarter. Pinnacle Bancorp Inc. acquired a new stake in Garmin during the fourth quarter valued at approximately $29,000. SOA Wealth Advisors LLC. bought a new position in Garmin during the 4th quarter worth approximately $37,000. Finally, Kentucky Trust Co acquired a new position in shares of Garmin in the 4th quarter worth approximately $41,000. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Garmin Stock Performance

Shares of GRMN opened at $189.67 on Friday. The firm has a fifty day moving average of $211.57 and a 200-day moving average of $204.16. The company has a market cap of $36.49 billion, a price-to-earnings ratio of 25.95, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92. Garmin Ltd. has a 1 year low of $138.86 and a 1 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. 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 period in the previous year, the business posted $1.72 EPS. Garmin’s revenue was up 22.9% on a year-over-year basis. Analysts predict 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 paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Friday, March 13th. Garmin’s payout ratio is currently 49.25%.

Insiders Place Their Bets

In other Garmin news, VP Susan Lyman sold 2,829 shares of the stock in a transaction 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 transaction, the vice president now directly owns 8,432 shares of the company’s stock, valued at approximately $1,817,180.32. This trade represents a 25.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Clifton A. Pemble sold 7,202 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was 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 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 quarter, insiders sold 24,342 shares of company stock worth $5,486,094. 19.54% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Morgan Stanley upgraded Garmin to a “sell” rating and raised their price objective for the stock from $164.00 to $171.00 in a research note on Tuesday, February 11th. JPMorgan Chase & Co. raised their price target on shares of Garmin from $219.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. 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. Finally, Tigress Financial increased their price objective on shares of Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, February 26th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $210.80.

Garmin Company 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.