Cozad Asset Management Inc. Sells 653 Shares of Garmin Ltd. (NYSE:GRMN)

Cozad Asset Management Inc. trimmed its position in shares of Garmin Ltd. (NYSE:GRMN) by 3.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 20,050 shares of the scientific and technical instruments company’s stock after selling 653 shares during the quarter. Cozad Asset Management Inc.’s holdings in Garmin were worth $4,136,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Parallel Advisors LLC raised its position in shares of Garmin by 2.6% in the fourth quarter. Parallel Advisors LLC now owns 5,078 shares of the scientific and technical instruments company’s stock worth $1,047,000 after buying an additional 128 shares in the last quarter. Cibc World Markets Corp grew its stake in shares of Garmin by 15.9% in the fourth quarter. Cibc World Markets Corp now owns 24,224 shares of the scientific and technical instruments company’s stock worth $4,996,000 after purchasing an additional 3,325 shares during the last quarter. Corient Private Wealth LLC grew its stake in shares of Garmin by 5.7% in the fourth quarter. Corient Private Wealth LLC now owns 18,222 shares of the scientific and technical instruments company’s stock worth $3,759,000 after purchasing an additional 977 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Garmin by 192.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,551 shares of the scientific and technical instruments company’s stock worth $1,351,000 after acquiring an additional 4,311 shares during the period. Finally, Frank Rimerman Advisors LLC grew its holdings in shares of Garmin by 2.0% during the 4th quarter. Frank Rimerman Advisors LLC now owns 6,357 shares of the scientific and technical instruments company’s stock worth $1,311,000 after acquiring an additional 125 shares during the period. 81.60% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Clifton A. Pemble sold 7,202 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $227.14, for a total transaction of $1,635,862.28. Following the completion of the sale, the chief executive officer now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Patrick Desbois sold 6,911 shares of the 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 sale, the chief operating officer now directly owns 63,048 shares of the company’s stock, valued at approximately $14,321,353.20. This trade represents a 9.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,103 shares of company stock worth $5,852,364. Company insiders own 19.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on GRMN shares. Barclays upped their price target on Garmin from $158.00 to $188.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Tigress Financial raised their target price on Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. increased their price target on Garmin from $219.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Finally, Morgan Stanley upgraded Garmin to a “sell” rating and increased their price target for the stock from $164.00 to $171.00 in a research note on Tuesday, February 11th. Three 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $210.80.

Garmin Stock Up 2.2 %

Shares of GRMN stock opened at $214.00 on Monday. The firm has a market cap of $41.18 billion, a price-to-earnings ratio of 29.28, a PEG ratio of 1.36 and a beta of 0.96. The company’s 50 day moving average is $216.99 and its 200 day moving average is $200.84. Garmin Ltd. has a 52-week low of $138.86 and a 52-week high of $246.50.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.51. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.70 billion. Garmin had a net margin of 22.42% and a return on equity of 19.31%. The business’s quarterly revenue 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. Analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders 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 1.68%. Garmin’s dividend payout ratio (DPR) is currently 41.04%.

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.