Russell Investments Group Ltd. Has $21.92 Million Holdings in Garmin Ltd. (NYSE:GRMN)

Russell Investments Group Ltd. lessened its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 0.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 170,520 shares of the scientific and technical instruments company’s stock after selling 237 shares during the period. Russell Investments Group Ltd. owned 0.09% of Garmin worth $21,920,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Artisan Partners Limited Partnership lifted its holdings in Garmin by 2.5% in the third quarter. Artisan Partners Limited Partnership now owns 7,246,834 shares of the scientific and technical instruments company’s stock valued at $762,367,000 after buying an additional 176,510 shares during the period. Northern Trust Corp lifted its holdings in Garmin by 7.1% in the third quarter. Northern Trust Corp now owns 1,630,148 shares of the scientific and technical instruments company’s stock valued at $171,492,000 after buying an additional 108,427 shares during the period. Invesco Ltd. lifted its holdings in Garmin by 10.7% in the third quarter. Invesco Ltd. now owns 1,411,205 shares of the scientific and technical instruments company’s stock valued at $148,459,000 after buying an additional 136,929 shares during the period. California Public Employees Retirement System lifted its holdings in Garmin by 0.7% in the fourth quarter. California Public Employees Retirement System now owns 932,299 shares of the scientific and technical instruments company’s stock valued at $119,838,000 after buying an additional 6,858 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Garmin by 4.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 813,137 shares of the scientific and technical instruments company’s stock valued at $85,542,000 after buying an additional 33,580 shares during the period. Institutional investors and hedge funds own 73.41% of the company’s stock.

Insider Transactions at Garmin

In other Garmin news, Director Jonathan Burrell sold 15,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $146.15, for a total value of $2,192,250.00. Following the completion of the sale, the director now directly owns 623,834 shares of the company’s stock, valued at approximately $91,173,339.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Garmin news, Director Jonathan Burrell sold 15,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $146.15, for a total value of $2,192,250.00. Following the completion of the sale, the director now directly owns 623,834 shares of the company’s stock, valued at approximately $91,173,339.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Clifton A. Pemble sold 1,622 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $134.19, for a total transaction of $217,656.18. Following the completion of the sale, the chief executive officer now directly owns 159,319 shares of the company’s stock, valued at $21,379,016.61. The disclosure for this sale can be found here. Insiders sold a total of 99,476 shares of company stock valued at $14,166,944 over the last three months. Corporate insiders own 19.89% of the company’s stock.

Garmin Price Performance

NYSE:GRMN opened at $163.44 on Thursday. The firm has a 50-day moving average of $144.00 and a 200-day moving average of $128.62. The company has a market cap of $31.39 billion, a PE ratio of 24.36, a PEG ratio of 4.76 and a beta of 0.98. Garmin Ltd. has a one year low of $95.79 and a one year high of $164.73.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, February 21st. The scientific and technical instruments company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.40 by $0.32. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.41 billion. Garmin had a net margin of 24.67% and a return on equity of 16.60%. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.35 earnings per share. On average, equities research analysts expect that Garmin Ltd. will post 5.45 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Friday, December 13th. Garmin’s payout ratio is presently 43.52%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. StockNews.com upgraded shares of Garmin from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Bank of America upped their price objective on shares of Garmin from $120.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. 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 report on Tuesday, February 27th. JPMorgan Chase & Co. upped their price objective on shares of Garmin from $139.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Finally, Barrington Research upped their price objective on shares of Garmin from $119.00 to $140.00 and gave the company an “equal weight” rating in a report on Thursday, February 22nd. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Garmin has a consensus rating of “Hold” and an average target price of $142.33.

Garmin Company Profile

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.