Garmin Ltd. (NYSE:GRMN) Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. lifted its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 4.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 68,985 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,692 shares during the quarter. QRG Capital Management Inc.’s holdings in Garmin were worth $14,229,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC acquired a new stake in shares of Garmin during the fourth quarter worth $26,000. Pinnacle Bancorp Inc. acquired a new position in Garmin in the fourth quarter valued at $29,000. SOA Wealth Advisors LLC. acquired a new position in Garmin in the fourth quarter valued at $37,000. Larson Financial Group LLC boosted its holdings 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 valued at $33,000 after acquiring an additional 162 shares during the last quarter. Finally, Kentucky Trust Co acquired a new position in Garmin in the fourth quarter valued at $41,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Garmin Stock Down 1.3 %

Shares of Garmin stock opened at $223.98 on Friday. The business has a 50-day moving average price of $214.66 and a 200 day moving average price of $197.16. Garmin Ltd. has a fifty-two week low of $134.11 and a fifty-two week high of $246.50. The firm has a market cap of $43.09 billion, a P/E ratio of 30.64, a P/E/G ratio of 1.36 and a beta of 0.98.

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

Garmin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.60 annualized dividend and a dividend yield of 1.61%. Garmin’s dividend payout ratio is currently 41.04%.

Insider Buying and Selling at Garmin

In other Garmin news, CEO Clifton A. Pemble sold 7,202 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 149,525 shares of the company’s stock, valued at $33,963,108.50. The trade was a 4.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Patrick Desbois sold 6,911 shares of the business’s stock in a transaction 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 sale, the chief operating officer now directly owns 63,048 shares in the company, valued at approximately $14,321,353.20. This trade represents a 9.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,874 shares of company stock valued at $3,571,966. Corporate insiders own 19.54% of the company’s stock.

Analysts Set New Price Targets

GRMN has been the topic of a number of research analyst reports. Morgan Stanley upgraded Garmin to a “sell” rating and lifted their target price for the company from $164.00 to $171.00 in a report on Tuesday, February 11th. Barclays lifted their target price on Garmin from $158.00 to $188.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. Tigress Financial raised their price objective on Garmin from $265.00 to $285.00 and gave the company a “strong-buy” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. raised their price objective on Garmin from $219.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.