Garmin Ltd. (NYSE:GRMN) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its holdings in Garmin Ltd. (NYSE:GRMN) by 7.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,432 shares of the scientific and technical instruments company’s stock after selling 2,756 shares during the quarter. Amalgamated Bank’s holdings in Garmin were worth $6,689,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GRMN. Geneos Wealth Management Inc. lifted its position in shares of Garmin by 1.7% during the 4th quarter. Geneos Wealth Management Inc. now owns 2,863 shares of the scientific and technical instruments company’s stock valued at $591,000 after acquiring an additional 49 shares during the last quarter. Curbstone Financial Management Corp raised its position in shares of Garmin by 1.3% during the fourth quarter. Curbstone Financial Management Corp now owns 3,886 shares of the scientific and technical instruments company’s stock worth $802,000 after purchasing an additional 50 shares during the period. Addison Advisors LLC lifted its holdings in shares of Garmin by 11.1% during the fourth quarter. Addison Advisors LLC now owns 522 shares of the scientific and technical instruments company’s stock valued at $108,000 after purchasing an additional 52 shares during the last quarter. HB Wealth Management LLC boosted its position in shares of Garmin by 1.4% in the 4th quarter. HB Wealth Management LLC now owns 3,821 shares of the scientific and technical instruments company’s stock valued at $788,000 after purchasing an additional 53 shares during the period. Finally, Outlook Wealth Advisors LLC increased its stake in Garmin by 2.6% in the 4th quarter. Outlook Wealth Advisors LLC now owns 2,332 shares of the scientific and technical instruments company’s stock worth $481,000 after purchasing an additional 58 shares in the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

Garmin Stock Performance

Garmin stock opened at $226.39 on Thursday. Garmin Ltd. has a twelve month low of $134.01 and a twelve month high of $246.50. The firm has a market cap of $43.56 billion, a PE ratio of 30.97, a P/E/G ratio of 1.36 and a beta of 0.98. The firm’s 50 day moving average price is $214.29 and its two-hundred day moving average price is $196.97.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.51. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.70 billion. Garmin had a net margin of 22.42% and a return on equity of 19.31%. Garmin’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.72 earnings per share. Equities analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.60 annualized dividend and a dividend yield of 1.59%. Garmin’s dividend payout ratio is 41.04%.

Insider Buying and Selling

In other Garmin news, CFO Douglas G. Boessen sold 1,761 shares of Garmin stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $207.99, for a total value of $366,270.39. Following the completion of the sale, the chief financial officer now directly owns 27,612 shares in the company, valued at $5,743,019.88. The trade was a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 19.54% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GRMN has been the subject of a number of analyst reports. Morgan Stanley raised shares of Garmin to a “sell” rating and upped their price objective for the company from $164.00 to $171.00 in a research note on Tuesday, February 11th. JPMorgan Chase & Co. upped their price target on shares of Garmin from $219.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Barclays lifted their price objective on shares of Garmin from $158.00 to $188.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. Finally, Tigress Financial increased their target price on Garmin from $265.00 to $285.00 and gave the company a “strong-buy” rating in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $210.80.

About Garmin

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.