FAS Wealth Partners Inc. Increases Stock Holdings in Garmin Ltd. (NYSE:GRMN)

FAS Wealth Partners Inc. grew its position in Garmin Ltd. (NYSE:GRMNFree Report) by 10.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,412 shares of the scientific and technical instruments company’s stock after buying an additional 1,685 shares during the quarter. FAS Wealth Partners Inc.’s holdings in Garmin were worth $2,367,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Avior Wealth Management LLC increased its position in shares of Garmin by 169.5% in the third quarter. Avior Wealth Management LLC now owns 283 shares of the scientific and technical instruments company’s stock valued at $30,000 after buying an additional 178 shares in the last quarter. Clear Street Markets LLC increased its position in Garmin by 107.1% during the 1st quarter. Clear Street Markets LLC now owns 321 shares of the scientific and technical instruments company’s stock worth $32,000 after purchasing an additional 166 shares in the last quarter. Blue Trust Inc. increased its position in Garmin by 35.2% during the 4th quarter. Blue Trust Inc. now owns 380 shares of the scientific and technical instruments company’s stock worth $49,000 after purchasing an additional 99 shares in the last quarter. Headinvest LLC purchased a new stake in Garmin during the 3rd quarter worth about $41,000. Finally, NBC Securities Inc. purchased a new stake in Garmin during the 3rd quarter worth about $57,000. Hedge funds and other institutional investors own 73.41% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on GRMN. JPMorgan Chase & Co. cut Garmin from an “overweight” rating to a “neutral” rating and set a $135.00 price objective for the company. in a research report on Monday, January 8th. Barrington Research lifted their price objective on Garmin from $119.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 22nd. Tigress Financial reiterated a “strong-buy” rating and set a $175.00 price objective (up previously from $165.00) on shares of Garmin in a research report on Tuesday, February 27th. Finally, StockNews.com cut Garmin from a “buy” rating to a “hold” rating in a research report on Tuesday, March 5th. Seven research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $131.50.

Read Our Latest Stock Analysis on Garmin

Garmin Trading Down 1.1 %

Shares of NYSE:GRMN opened at $145.74 on Wednesday. The stock’s 50-day moving average price is $134.84 and its two-hundred day moving average price is $122.98. Garmin Ltd. has a 12-month low of $94.89 and a 12-month high of $149.54. The firm has a market cap of $27.95 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 4.85 and a beta of 0.98.

Garmin (NYSE:GRMNGet Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The scientific and technical instruments company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.32. Garmin had a return on equity of 16.60% and a net margin of 24.67%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period last year, the company earned $1.35 EPS. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. As a group, research analysts forecast that Garmin Ltd. will post 5.43 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, December 27th. Stockholders of record on Friday, December 13th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Friday, December 13th. Garmin’s dividend payout ratio is currently 43.52%.

Insider Activity

In other news, VP Susan Lyman sold 2,587 shares of Garmin stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $135.18, for a total value of $349,710.66. Following the transaction, the vice president now directly owns 7,174 shares of the company’s stock, valued at approximately $969,781.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Susan Lyman sold 2,587 shares of Garmin stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $135.18, for a total value of $349,710.66. Following the transaction, the vice president now directly owns 7,174 shares of the company’s stock, valued at approximately $969,781.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Clifton A. Pemble sold 1,622 shares of Garmin stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $134.19, for a total value of $217,656.18. Following the completion of the transaction, the chief executive officer now directly owns 159,319 shares in the company, valued at $21,379,016.61. The disclosure for this sale can be found here. Insiders have sold 99,476 shares of company stock valued at $14,166,944 in the last three months. Corporate insiders own 19.89% of the company’s stock.

Garmin Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Garmin (NYSE:GRMN)

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