1,838 Shares in Garmin Ltd. (NYSE:GRMN) Purchased by Williamson Legacy Group LLC

Williamson Legacy Group LLC purchased a new position in Garmin Ltd. (NYSE:GRMN) in the 4th quarter, Holdings Channel.com reports. The firm purchased 1,838 shares of the scientific and technical instruments company’s stock, valued at approximately $379,000.

Several other hedge funds have also recently added to or reduced their stakes in GRMN. Golden State Wealth Management LLC acquired a new position in Garmin in the fourth quarter worth about $26,000. Pinnacle Bancorp Inc. acquired a new position in Garmin in the fourth quarter worth about $29,000. Larson Financial Group LLC raised its position in Garmin by 578.6% in the third 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 in the last quarter. SOA Wealth Advisors LLC. acquired a new position in Garmin in the fourth quarter worth about $37,000. Finally, Itau Unibanco Holding S.A. acquired a new position in Garmin in the third quarter worth about $39,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Insider Activity

In other Garmin 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 transaction, the chief financial officer now directly owns 27,612 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Patrick Desbois sold 6,911 shares of the firm’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 completion of the transaction, the chief operating officer now directly owns 63,048 shares in the company, valued at approximately $14,321,353.20. The trade was a 9.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,274 shares of company stock valued at $5,242,686 over the last three months. 19.54% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on GRMN shares. Morgan Stanley raised shares of Garmin to a “sell” rating and increased their price target for the stock from $164.00 to $171.00 in a research report on Tuesday, February 11th. JPMorgan Chase & Co. raised their price objective on shares of Garmin from $219.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Barclays raised their price objective on shares of Garmin from $158.00 to $188.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Finally, Tigress Financial raised their price objective on shares of Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a report on Wednesday. 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. Based on data from MarketBeat.com, Garmin has an average rating of “Hold” and a consensus target price of $210.80.

Garmin Trading Up 2.2 %

NYSE GRMN opened at $228.88 on Friday. Garmin Ltd. has a 1-year low of $136.25 and a 1-year high of $246.50. The company has a 50 day moving average of $215.06 and a 200-day moving average of $197.58. The firm has a market cap of $44.04 billion, a price-to-earnings ratio of 31.31, a PEG ratio of 1.36 and a beta of 0.98.

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 business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the prior year, the firm earned $1.72 earnings per share. Garmin’s revenue was up 22.9% compared to the same quarter last year. On average, analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Dividend Announcement

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 dividend of $0.90 per share. The ex-dividend date is Friday, March 13th. This represents a $3.60 annualized dividend and a dividend yield of 1.57%. Garmin’s dividend payout ratio (DPR) is currently 41.04%.

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.