True Wealth Design LLC Increases Stock Holdings in Garmin Ltd. (NYSE:GRMN)

True Wealth Design LLC lifted its stake in shares of Garmin Ltd. (NYSE:GRMN) by 3,511.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 325 shares of the scientific and technical instruments company’s stock after buying an additional 316 shares during the period. True Wealth Design LLC’s holdings in Garmin were worth $67,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new position in shares of Garmin during the fourth quarter valued at approximately $26,000. Aster Capital Management DIFC Ltd boosted its position in shares of Garmin by 864.3% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company’s stock valued at $28,000 after buying an additional 121 shares during the last quarter. Pinnacle Bancorp Inc. purchased a new position in shares of Garmin during the fourth quarter valued at approximately $29,000. SOA Wealth Advisors LLC. purchased a new position in shares of Garmin during the fourth quarter valued at approximately $37,000. Finally, Kentucky Trust Co purchased a new position in shares of Garmin during the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Garmin Trading Up 1.6%

Shares of Garmin stock opened at $205.11 on Friday. The business’s fifty day simple moving average is $198.41 and its 200 day simple moving average is $208.52. The firm has a market capitalization of $39.49 billion, a P/E ratio of 28.06, a price-to-earnings-growth ratio of 1.36 and a beta of 0.99. Garmin Ltd. has a 12 month low of $158.38 and a 12 month high of $246.50.

Garmin (NYSE:GRMN) last released its earnings results on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.01). Garmin had a return on equity of 19.31% and a net margin of 22.42%. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the business earned $1.42 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. Analysts predict that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Friday, March 13th. Garmin’s dividend payout ratio is currently 47.37%.

Insiders Place Their Bets

In related news, VP Susan Lyman sold 2,829 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $215.51, for a total transaction of $609,677.79. Following the sale, the vice president now directly owns 8,432 shares in the company, valued at approximately $1,817,180.32. The trade was a 25.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Douglas G. Boessen sold 2,763 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $226.55, for a total value of $625,957.65. Following the sale, the chief financial officer now owns 30,936 shares in the company, valued at approximately $7,008,550.80. The trade was a 8.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,342 shares of company stock valued at $5,486,094 over the last ninety days. 15.38% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on GRMN shares. Morgan Stanley lifted their target price on Garmin from $159.00 to $172.00 and gave the company an “underweight” rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. dropped their price target on Garmin from $220.00 to $215.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. Tigress Financial lifted their price target 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 dropped their price target on Garmin from $188.00 to $152.00 and set an “underweight” rating on the stock in a report on Wednesday, April 30th. 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 stock. According to data from MarketBeat, Garmin presently has a consensus rating of “Hold” and a consensus target price of $194.80.

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.