13.8% Stake of Garmin Ltd. (GRMN) Maintained by Burrell Jonathan

Burrell Jonathan recently stated that they own 13.8% of Garmin Ltd. (NASDAQ:GRMN) in a Schedule 13G/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Monday, May 21st. The investor owns 26,042,130 shares of the stock worth approximately $1,573,725,916. The disclosure is available through EDGAR at this link.

Several other large investors have also recently bought and sold shares of GRMN. Point72 Asia Hong Kong Ltd boosted its stake in Garmin by 105.4% during the first quarter. Point72 Asia Hong Kong Ltd now owns 1,736 shares of the scientific and technical instruments company’s stock worth $102,000 after acquiring an additional 891 shares in the last quarter. ING Groep NV boosted its stake in Garmin by 10.0% during the fourth quarter. ING Groep NV now owns 10,551 shares of the scientific and technical instruments company’s stock worth $629,000 after acquiring an additional 961 shares in the last quarter. Crescent Grove Advisors LLC boosted its stake in Garmin by 12.5% during the fourth quarter. Crescent Grove Advisors LLC now owns 9,000 shares of the scientific and technical instruments company’s stock worth $536,000 after acquiring an additional 1,000 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in Garmin by 11.4% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,373 shares of the scientific and technical instruments company’s stock worth $668,000 after acquiring an additional 1,162 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Garmin by 8.3% during the fourth quarter. Victory Capital Management Inc. now owns 15,359 shares of the scientific and technical instruments company’s stock worth $915,000 after acquiring an additional 1,175 shares in the last quarter. 40.07% of the stock is currently owned by institutional investors.

Several research analysts recently issued reports on the stock. BidaskClub raised shares of Garmin from a “hold” rating to a “buy” rating in a research note on Thursday, February 8th. Robert W. Baird reaffirmed a “neutral” rating and issued a $60.00 price objective (up from $57.00) on shares of Garmin in a research note on Thursday, February 22nd. Credit Suisse Group reaffirmed a “hold” rating on shares of Garmin in a research note on Thursday, February 22nd. Tigress Financial reaffirmed a “buy” rating on shares of Garmin in a research note on Monday, March 12th. Finally, Zacks Investment Research raised shares of Garmin from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a research note on Tuesday, March 20th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $60.40.



Shares of Garmin stock traded up $0.67 during trading hours on Monday, reaching $60.43. The company’s stock had a trading volume of 39,060 shares, compared to its average volume of 1,095,070. Garmin Ltd. has a one year low of $49.80 and a one year high of $65.96. The firm has a market capitalization of $11.27 billion, a price-to-earnings ratio of 20.56, a price-to-earnings-growth ratio of 2.29 and a beta of 0.98.

Garmin (NASDAQ:GRMN) last released its quarterly earnings data on Wednesday, May 2nd. The scientific and technical instruments company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.12. Garmin had a net margin of 18.57% and a return on equity of 15.66%. The firm had revenue of $711.00 million for the quarter, compared to analyst estimates of $670.71 million. During the same period last year, the firm earned $0.52 earnings per share. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. sell-side analysts forecast that Garmin Ltd. will post 3.13 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Monday, June 18th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 3.51%. This is an increase from Garmin’s previous quarterly dividend of $0.51. Garmin’s dividend payout ratio is currently 69.39%.

In other news, VP Andrew R. Etkind sold 1,929 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $60.61, for a total value of $116,916.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Charles Peffer sold 9,905 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $60.55, for a total transaction of $599,747.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,691,034 shares of company stock valued at $160,925,924. 17.85% of the stock is currently owned by corporate insiders.

Garmin Profile

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices worldwide. It operates through five segments: Auto, Aviation, Marine, Outdoor, and Fitness. The Auto segment offers personal navigation devices; infotainment systems; and action cameras, as well as mobile applications under the Garmin and NAVIGON names.

Institutional Ownership by Quarter for Garmin (NASDAQ:GRMN)

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