Garmin Ltd. (NYSE:GRMN) Shares Acquired by Modern Wealth Management LLC

Modern Wealth Management LLC lifted its stake in Garmin Ltd. (NYSE:GRMN) by 15.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,089 shares of the scientific and technical instruments company’s stock after purchasing an additional 279 shares during the period. Modern Wealth Management LLC’s holdings in Garmin were worth $451,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Cerity Partners LLC grew its holdings in Garmin by 53.0% in the third quarter. Cerity Partners LLC now owns 43,035 shares of the scientific and technical instruments company’s stock valued at $7,575,000 after purchasing an additional 14,912 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of Garmin by 578.6% in the 3rd quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock worth $33,000 after buying an additional 162 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in Garmin by 12.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 18,877 shares of the scientific and technical instruments company’s stock valued at $3,323,000 after acquiring an additional 2,114 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Garmin by 0.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 109,361 shares of the scientific and technical instruments company’s stock valued at $19,251,000 after acquiring an additional 366 shares in the last quarter. Finally, FMR LLC raised its position in Garmin by 40.8% during the third quarter. FMR LLC now owns 3,775,154 shares of the scientific and technical instruments company’s stock worth $664,540,000 after acquiring an additional 1,093,219 shares during the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Insider Buying and Selling

In other Garmin news, CEO Clifton A. Pemble sold 7,202 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was 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 directly owns 149,525 shares in the company, valued at $33,963,108.50. This represents a 4.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Susan Lyman sold 2,829 shares of Garmin stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $215.51, for a total value of $609,677.79. Following the completion of the transaction, the vice president now directly owns 8,432 shares in the company, valued at $1,817,180.32. This represents a 25.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,342 shares of company stock valued at $5,486,094. Insiders own 19.54% of the company’s stock.

Garmin Stock Performance

GRMN stock opened at $216.61 on Friday. Garmin Ltd. has a one year low of $138.86 and a one year high of $246.50. The stock has a market capitalization of $41.68 billion, a P/E ratio of 29.63, a PEG ratio of 1.36 and a beta of 0.96. The company has a 50 day moving average price of $217.34 and a two-hundred day moving average price of $202.52.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the business earned $1.72 earnings per share. The business’s revenue for the quarter was up 22.9% on a year-over-year basis. Research analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors 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 annualized dividend and a dividend yield of 1.66%. Garmin’s dividend payout ratio is presently 49.25%.

Analyst Ratings Changes

GRMN has been the topic of several research reports. JPMorgan Chase & Co. increased their price target on shares of Garmin from $219.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Barclays upped their target price on Garmin from $158.00 to $188.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. Tigress Financial raised their price target on Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, February 26th. Finally, Morgan Stanley raised Garmin to a “sell” rating and boosted their price target for the stock from $164.00 to $171.00 in a report on Tuesday, February 11th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Garmin presently has an average rating of “Hold” and a consensus target price 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.