Larson Financial Group LLC Has $50,000 Position in Garmin Ltd. (NYSE:GRMN)

Larson Financial Group LLC lifted its position in Garmin Ltd. (NYSE:GRMN) by 26.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 241 shares of the scientific and technical instruments company’s stock after acquiring an additional 51 shares during the period. Larson Financial Group LLC’s holdings in Garmin were worth $50,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of GRMN. Golden State Wealth Management LLC acquired a new stake in Garmin in the fourth quarter worth $26,000. Pinnacle Bancorp Inc. acquired a new stake in Garmin during the 4th quarter worth $29,000. SOA Wealth Advisors LLC. acquired a new stake in Garmin during the 4th quarter worth $37,000. Kentucky Trust Co bought a new position in Garmin during the fourth quarter worth about $41,000. Finally, Venturi Wealth Management LLC grew its stake in Garmin by 67.7% in the fourth quarter. Venturi Wealth Management LLC now owns 208 shares of the scientific and technical instruments company’s stock valued at $43,000 after acquiring an additional 84 shares during the period. Institutional investors own 81.60% of the company’s stock.

Insider Activity

In related news, CEO Clifton A. Pemble sold 7,202 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were 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 approximately $33,963,108.50. This trade represents a 4.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Douglas G. Boessen sold 1,761 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was 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 in the company, valued at approximately $5,743,019.88. This trade represents a 6.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,103 shares of company stock valued at $5,852,364. 19.54% of the stock is owned by insiders.

Garmin Stock Up 1.2 %

NYSE:GRMN opened at $215.78 on Thursday. Garmin Ltd. has a twelve month low of $138.86 and a twelve month high of $246.50. The company has a market cap of $41.52 billion, a P/E ratio of 29.52, a price-to-earnings-growth ratio of 1.36 and a beta of 0.96. The business has a 50 day moving average price of $216.76 and a two-hundred day moving average price of $200.26.

Garmin (NYSE:GRMN) last announced its earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter in the prior year, the company posted $1.72 earnings per share. The firm’s revenue was up 22.9% on a year-over-year basis. As a group, analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Announces Dividend

The business also recently disclosed 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. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Friday, March 13th. Garmin’s dividend payout ratio is currently 41.04%.

Wall Street Analyst Weigh In

GRMN has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on Garmin from $219.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Tigress Financial raised their target price on shares of Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a report on Wednesday, February 26th. Morgan Stanley upgraded shares of Garmin to a “sell” rating and upped their price target for the company from $164.00 to $171.00 in a report on Tuesday, February 11th. Finally, 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. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $210.80.

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.