Garmin Ltd. (NYSE:GRMN) Shares Sold by TD Private Client Wealth LLC

TD Private Client Wealth LLC trimmed its position in shares of Garmin Ltd. (NYSE:GRMN) by 70.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 550 shares of the scientific and technical instruments company’s stock after selling 1,309 shares during the quarter. TD Private Client Wealth LLC’s holdings in Garmin were worth $113,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its stake in shares of Garmin by 2.0% in the third quarter. State Street Corp now owns 6,912,536 shares of the scientific and technical instruments company’s stock valued at $1,216,819,000 after purchasing an additional 134,303 shares during the period. Geode Capital Management LLC boosted its position in Garmin by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,363,464 shares of the scientific and technical instruments company’s stock valued at $765,912,000 after buying an additional 112,815 shares during the period. FMR LLC boosted its position in Garmin by 40.8% in the 3rd quarter. FMR LLC now owns 3,775,154 shares of the scientific and technical instruments company’s stock valued at $664,540,000 after buying an additional 1,093,219 shares during the period. Disciplined Growth Investors Inc. MN grew its stake in shares of Garmin by 3.6% in the third quarter. Disciplined Growth Investors Inc. MN now owns 1,401,004 shares of the scientific and technical instruments company’s stock worth $246,619,000 after acquiring an additional 48,645 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Garmin by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 889,838 shares of the scientific and technical instruments company’s stock worth $183,538,000 after acquiring an additional 14,200 shares during the period. 81.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, CEO Clifton A. Pemble sold 7,202 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $227.14, for a total transaction of $1,635,862.28. Following the transaction, the chief executive officer now directly owns 149,525 shares in the company, valued at approximately $33,963,108.50. This trade represents a 4.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Douglas G. Boessen sold 2,763 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $226.55, for a total transaction of $625,957.65. Following the completion of the sale, the chief financial officer now owns 30,936 shares of the company’s stock, valued at approximately $7,008,550.80. This trade represents a 8.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,342 shares of company stock valued at $5,486,094. 19.54% of the stock is currently owned by insiders.

Garmin Stock Performance

Shares of NYSE GRMN opened at $218.47 on Wednesday. The stock’s 50-day simple moving average is $217.23 and its 200-day simple moving average is $202.32. The firm has a market capitalization of $42.03 billion, a PE ratio of 29.89, a price-to-earnings-growth ratio of 1.36 and a beta of 0.96. Garmin Ltd. has a fifty-two week low of $138.86 and a fifty-two week high of $246.50.

Garmin (NYSE:GRMN) last released its quarterly earnings data 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. Garmin had a net margin of 22.42% and a return on equity of 19.31%. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter last year, the company earned $1.72 earnings per share. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. On average, sell-side analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.60 annualized dividend and a yield of 1.65%. Garmin’s dividend payout ratio is presently 49.25%.

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.