Signaturefd LLC raised its holdings in shares of Garmin Ltd. (NASDAQ:GRMN) by 7.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,937 shares of the scientific and technical instruments company’s stock after buying an additional 141 shares during the quarter. Signaturefd LLC’s holdings in Garmin were worth $155,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of GRMN. JPMorgan Chase & Co. raised its stake in shares of Garmin by 162.8% in the first quarter. JPMorgan Chase & Co. now owns 519,802 shares of the scientific and technical instruments company’s stock valued at $44,885,000 after purchasing an additional 321,985 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Garmin by 26.3% in the first quarter. First Trust Advisors LP now owns 1,120,558 shares of the scientific and technical instruments company’s stock valued at $96,760,000 after purchasing an additional 233,543 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Garmin in the first quarter valued at $18,720,000. State of Wisconsin Investment Board raised its stake in shares of Garmin by 172.0% in the first quarter. State of Wisconsin Investment Board now owns 295,490 shares of the scientific and technical instruments company’s stock valued at $25,516,000 after purchasing an additional 186,856 shares in the last quarter. Finally, Marshall Wace North America L.P. acquired a new position in shares of Garmin in the first quarter valued at $15,903,000. Institutional investors and hedge funds own 42.19% of the company’s stock.
Garmin stock opened at $77.23 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.39 and a quick ratio of 1.76. The stock has a fifty day moving average price of $79.00 and a two-hundred day moving average price of $80.41. Garmin Ltd. has a 52-week low of $59.98 and a 52-week high of $89.72. The firm has a market capitalization of $15.67 billion, a P/E ratio of 20.93, a P/E/G ratio of 2.76 and a beta of 0.91.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.28 annualized dividend and a yield of 2.95%. Garmin’s dividend payout ratio is currently 61.79%.
A number of research analysts recently commented on GRMN shares. JPMorgan Chase & Co. upgraded Garmin from an “underweight” rating to a “neutral” rating and cut their target price for the company from $77.00 to $75.00 in a research note on Friday, June 7th. Zacks Investment Research lowered Garmin from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 24th. Tigress Financial restated a “buy” rating on shares of Garmin in a research note on Tuesday, June 11th. BidaskClub upgraded Garmin from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Morgan Stanley set a $81.00 target price on Garmin and gave the company a “hold” rating in a research note on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. Garmin presently has an average rating of “Hold” and a consensus target price of $78.66.
In other Garmin news, insider Min H. Kao sold 362,080 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $79.09, for a total transaction of $28,636,907.20. Following the completion of the transaction, the insider now directly owns 1,799,429 shares in the company, valued at $142,316,839.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Min H. Kao sold 116,124 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $79.78, for a total value of $9,264,372.72. Following the transaction, the chairman now owns 1,799,429 shares of the company’s stock, valued at $143,558,445.62. The disclosure for this sale can be found here. Insiders have sold 5,419,145 shares of company stock valued at $426,199,229 over the last quarter. Corporate insiders own 23.83% of the company’s stock.
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.
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