Ossiam Raises Position in Garmin Ltd. (NYSE:GRMN)

Ossiam increased its stake in shares of Garmin Ltd. (NYSE:GRMN) by 190.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 12,929 shares of the scientific and technical instruments company’s stock after purchasing an additional 8,474 shares during the quarter. Ossiam’s holdings in Garmin were worth $2,667,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new position in shares of Garmin during the 4th quarter worth about $26,000. Aster Capital Management DIFC Ltd raised its holdings in shares of Garmin by 864.3% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company’s stock worth $28,000 after buying an additional 121 shares during the period. Pinnacle Bancorp Inc. bought a new stake in shares of Garmin during the 4th quarter worth approximately $29,000. SOA Wealth Advisors LLC. bought a new position in Garmin in the 4th quarter valued at $37,000. Finally, Kentucky Trust Co bought a new stake in shares of Garmin during the fourth quarter worth $41,000. 81.60% of the stock is currently owned by institutional investors.

Garmin Stock Performance

GRMN stock opened at $190.53 on Friday. The firm has a 50-day simple moving average of $209.00 and a two-hundred day simple moving average of $204.75. Garmin Ltd. has a one year low of $139.65 and a one year high of $246.50. The firm has a market cap of $36.66 billion, a price-to-earnings ratio of 26.06, a PEG ratio of 1.36 and a beta of 0.92.

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

Garmin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.89%. Garmin’s payout ratio is 49.25%.

Insider Activity

In other Garmin news, CEO Clifton A. Pemble sold 7,202 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $227.14, for a total transaction of $1,635,862.28. Following the sale, the chief executive officer now owns 149,525 shares in the company, valued at approximately $33,963,108.50. The trade was a 4.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Susan Lyman sold 2,829 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $215.51, for a total value of $609,677.79. Following the completion of the transaction, the vice president now owns 8,432 shares of the company’s stock, valued at approximately $1,817,180.32. The trade was a 25.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,342 shares of company stock worth $5,486,094 over the last 90 days. 19.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on GRMN. Morgan Stanley raised shares of Garmin to a “sell” rating and raised their price target for the stock from $164.00 to $171.00 in a research note on Tuesday, February 11th. JPMorgan Chase & Co. dropped their price objective on Garmin from $260.00 to $220.00 and set a “neutral” rating on the stock in a research note on Thursday. Tigress Financial upped their target price on Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a report on Wednesday, February 26th. Finally, Barclays lifted their price objective on Garmin from $158.00 to $188.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. Three 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $202.80.

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.