Signition LP Purchases Shares of 4,046 Garmin Ltd. (NASDAQ:GRMN)

Signition LP purchased a new stake in shares of Garmin Ltd. (NASDAQ:GRMN) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 4,046 shares of the scientific and technical instruments company’s stock, valued at approximately $323,000.

A number of other institutional investors have also recently bought and sold shares of the business. Hilton Capital Management LLC acquired a new position in shares of Garmin in the 1st quarter valued at about $29,000. Hanseatic Management Services Inc. acquired a new position in shares of Garmin in the 1st quarter valued at about $30,000. Trust Co. of Vermont lifted its holdings in shares of Garmin by 762.1% in the 1st quarter. Trust Co. of Vermont now owns 500 shares of the scientific and technical instruments company’s stock valued at $43,000 after buying an additional 442 shares during the period. Amica Retiree Medical Trust acquired a new position in shares of Garmin in the 2nd quarter valued at about $43,000. Finally, Farmers National Bank acquired a new position in shares of Garmin in the 1st quarter valued at about $44,000. Institutional investors and hedge funds own 42.49% of the company’s stock.

In other Garmin news, insider Min H. Kao sold 362,080 shares of the stock in a transaction that occurred 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 owns 1,799,429 shares of the company’s stock, valued at $142,316,839.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Min H. Kao sold 241,179 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $76.81, for a total value of $18,524,958.99. Following the transaction, the insider now directly owns 1,779,429 shares of the company’s stock, valued at approximately $136,677,941.49. The disclosure for this sale can be found here. Insiders sold a total of 5,419,145 shares of company stock valued at $426,199,229 in the last ninety days. 23.83% of the stock is currently owned by insiders.



Several equities analysts have recently issued reports on the company. ValuEngine cut Garmin from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. BidaskClub raised Garmin from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Morgan Stanley set a $81.00 price objective on Garmin and gave the company a “hold” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. raised Garmin from an “underweight” rating to a “neutral” rating and decreased their price objective for the company from $77.00 to $75.00 in a report on Friday, June 7th. Finally, Tigress Financial reissued a “buy” rating on shares of Garmin in a report on Friday, August 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $78.66.

NASDAQ GRMN traded down $1.92 during trading hours on Friday, reaching $78.36. The company’s stock had a trading volume of 823,483 shares, compared to its average volume of 1,400,722. The firm has a market capitalization of $15.87 billion, a price-to-earnings ratio of 21.24, a P/E/G ratio of 2.80 and a beta of 0.91. Garmin Ltd. has a 1-year low of $59.98 and a 1-year high of $89.72. 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 company’s 50-day moving average is $78.77 and its two-hundred day moving average is $80.56.

Garmin (NASDAQ:GRMN) last released its quarterly earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. The company had revenue of $955.00 million during the quarter, compared to analysts’ expectations of $930.98 million. Garmin had a return on equity of 17.97% and a net margin of 21.32%. Garmin’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.99 EPS. Equities analysts forecast that Garmin Ltd. will post 3.9 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.28 dividend on an annualized basis and a yield of 2.91%. Garmin’s payout ratio is 61.79%.

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.

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Institutional Ownership by Quarter for Garmin (NASDAQ:GRMN)

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