Insight Folios Inc Purchases 93 Shares of Garmin Ltd. (NYSE:GRMN)

Insight Folios Inc boosted its position in Garmin Ltd. (NYSE:GRMN) by 3.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,768 shares of the scientific and technical instruments company’s stock after acquiring an additional 93 shares during the quarter. Insight Folios Inc’s holdings in Garmin were worth $412,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in GRMN. Wetzel Investment Advisors Inc. bought a new position in shares of Garmin during the fourth quarter valued at about $26,000. Frazier Financial Advisors LLC purchased a new stake in shares of Garmin during the fourth quarter worth about $33,000. Headinvest LLC purchased a new stake in shares of Garmin during the third quarter worth about $41,000. Blue Trust Inc. boosted its holdings in shares of Garmin by 35.2% during the fourth quarter. Blue Trust Inc. now owns 380 shares of the scientific and technical instruments company’s stock worth $49,000 after purchasing an additional 99 shares during the period. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Garmin during the fourth quarter worth about $51,000. Institutional investors own 73.41% of the company’s stock.

Insider Activity at Garmin

In related news, EVP Patrick Desbois sold 4,126 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $163.52, for a total value of $674,683.52. Following the completion of the transaction, the executive vice president now directly owns 58,412 shares in the company, valued at approximately $9,551,530.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Garmin news, CFO Douglas G. Boessen sold 2,350 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $161.63, for a total transaction of $379,830.50. Following the completion of the transaction, the chief financial officer now directly owns 28,010 shares in the company, valued at $4,527,256.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Patrick Desbois sold 4,126 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $163.52, for a total transaction of $674,683.52. Following the transaction, the executive vice president now owns 58,412 shares of the company’s stock, valued at $9,551,530.24. The disclosure for this sale can be found here. Company insiders own 19.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GRMN shares. Barclays lifted their price objective on shares of Garmin from $140.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. StockNews.com upgraded shares of Garmin from a “hold” rating to a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. raised their target price on shares of Garmin from $155.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Bank of America lowered shares of Garmin from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $165.00 to $150.00 in a report on Wednesday, May 22nd. Finally, Tigress Financial raised their target price on shares of Garmin from $175.00 to $210.00 and gave the stock a “strong-buy” rating in a report on Tuesday, May 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Garmin currently has an average rating of “Hold” and a consensus target price of $156.83.

Garmin Trading Down 0.2 %

Shares of GRMN stock traded down $0.34 during trading hours on Thursday, hitting $161.15. The company’s stock had a trading volume of 442,550 shares, compared to its average volume of 609,054. The company has a 50 day moving average of $162.70 and a 200 day moving average of $143.86. The stock has a market cap of $30.95 billion, a PE ratio of 22.73, a price-to-earnings-growth ratio of 3.48 and a beta of 0.98. Garmin Ltd. has a 12-month low of $99.61 and a 12-month high of $171.64.

Garmin (NYSE:GRMN) last released its quarterly earnings data on Wednesday, May 1st. The scientific and technical instruments company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.00 by $0.42. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.25 billion. Garmin had a net margin of 24.96% and a return on equity of 17.26%. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.02 EPS. As a group, analysts anticipate that Garmin Ltd. will post 5.77 earnings per share for the current fiscal year.

Garmin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Friday, March 14th. Garmin’s dividend payout ratio is currently 42.31%.

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.