Tredje AP fonden Reduces Position in Garmin Ltd. (NYSE:GRMN)

Tredje AP fonden decreased its position in Garmin Ltd. (NYSE:GRMN) by 50.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 13,693 shares of the scientific and technical instruments company’s stock after selling 13,692 shares during the period. Tredje AP fonden’s holdings in Garmin were worth $2,824,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new stake in Garmin in the 4th quarter worth $26,000. Pinnacle Bancorp Inc. purchased a new stake in shares of Garmin during the fourth quarter worth about $29,000. Larson Financial Group LLC grew its stake in shares of Garmin by 578.6% in the third quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 162 shares during the last quarter. SOA Wealth Advisors LLC. purchased a new position in Garmin during the 4th quarter valued at about $37,000. Finally, Itau Unibanco Holding S.A. bought a new position in Garmin during the 3rd quarter valued at approximately $39,000. 81.60% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Garmin

In related news, Director Matthew Munn sold 4,637 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $225.31, for a total value of $1,044,762.47. Following the completion of the transaction, the director now directly owns 11,450 shares in the company, valued at $2,579,799.50. The trade was a 28.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Susan Lyman sold 2,829 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $215.51, for a total value of $609,677.79. Following the sale, the vice president now owns 8,432 shares in the company, valued at approximately $1,817,180.32. This represents a 25.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,103 shares of company stock valued at $5,852,364. Insiders own 19.54% of the company’s stock.

Garmin Price Performance

Shares of Garmin stock opened at $208.95 on Friday. Garmin Ltd. has a 1 year low of $138.86 and a 1 year high of $246.50. The company has a 50-day moving average of $216.85 and a 200 day moving average of $200.32. The firm has a market cap of $40.20 billion, a price-to-earnings ratio of 28.58, a PEG ratio of 1.36 and a beta of 0.96.

Garmin (NYSE:GRMN) last released its earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.51. Garmin had a net margin of 22.42% and a return on equity of 19.31%. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.70 billion. The business’s revenue was up 22.9% on a year-over-year basis. During the same period last year, the business earned $1.72 earnings per share. On average, equities analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Friday, March 13th. Garmin’s dividend payout ratio (DPR) is 41.04%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. upped their target price on Garmin from $219.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Tigress Financial boosted their price target on shares of Garmin from $265.00 to $285.00 and gave the company a “strong-buy” rating in a research report on Wednesday, February 26th. Morgan Stanley upgraded shares of Garmin to a “sell” rating and raised their price objective for the stock from $164.00 to $171.00 in a report on Tuesday, February 11th. Finally, Barclays lifted their price objective on Garmin from $158.00 to $188.00 and gave the company an “underweight” rating in a research report on Thursday, February 20th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $210.80.

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.