Garmin Ltd. (NYSE:GRMN) Holdings Raised by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC grew its position in Garmin Ltd. (NYSE:GRMN) by 16.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,039 shares of the scientific and technical instruments company’s stock after acquiring an additional 147 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Garmin were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in GRMN. FMR LLC increased its holdings in shares of Garmin by 40.8% in the 3rd quarter. FMR LLC now owns 3,775,154 shares of the scientific and technical instruments company’s stock valued at $664,540,000 after acquiring an additional 1,093,219 shares during the last quarter. Montrusco Bolton Investments Inc. bought a new stake in shares of Garmin in the 3rd quarter valued at approximately $53,252,000. Jacobs Levy Equity Management Inc. increased its holdings in shares of Garmin by 1,580.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 287,283 shares of the scientific and technical instruments company’s stock valued at $50,570,000 after acquiring an additional 270,186 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Garmin by 32.2% in the 4th quarter. Allianz Asset Management GmbH now owns 675,950 shares of the scientific and technical instruments company’s stock valued at $139,421,000 after acquiring an additional 164,818 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Garmin in the 4th quarter valued at approximately $32,795,000. 81.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GRMN. Barclays boosted their price objective on Garmin from $158.00 to $188.00 and gave the company an “underweight” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. boosted 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. Tigress Financial boosted 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, February 26th. Finally, Morgan Stanley upgraded Garmin to a “sell” rating and boosted their price objective for the company from $164.00 to $171.00 in a research report on Tuesday, February 11th. Three research 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 stock presently has an average rating of “Hold” and a consensus price target of $210.80.

Insider Transactions at Garmin

In other news, CEO Clifton A. Pemble sold 7,202 shares of the business’s stock in a transaction on 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Susan Lyman sold 2,829 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $215.51, for a total value of $609,677.79. Following the sale, the vice president now directly owns 8,432 shares in the company, valued at $1,817,180.32. This trade represents a 25.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,103 shares of company stock valued at $5,852,364. Corporate insiders own 19.54% of the company’s stock.

Garmin Stock Performance

Shares of GRMN stock opened at $214.00 on Monday. Garmin Ltd. has a 1 year low of $138.86 and a 1 year high of $246.50. The stock has a fifty day moving average of $216.99 and a two-hundred day moving average of $200.84. The firm has a market capitalization of $41.18 billion, a PE ratio of 29.28, a price-to-earnings-growth ratio of 1.36 and a beta of 0.96.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 EPS for the quarter, topping 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 company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the previous year, the business earned $1.72 EPS. The company’s quarterly revenue was up 22.9% compared to the same quarter last year. Equities research analysts predict that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Announces Dividend

The company 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 $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend is Friday, March 13th. Garmin’s dividend payout ratio is presently 41.04%.

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.