3,089 Shares in Garmin Ltd. (NYSE:GRMN) Acquired by Miller Financial Services LLC

Miller Financial Services LLC bought a new position in Garmin Ltd. (NYSE:GRMN) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,089 shares of the scientific and technical instruments company’s stock, valued at approximately $637,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GRMN. Farther Finance Advisors LLC increased its holdings in Garmin by 10.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 986 shares of the scientific and technical instruments company’s stock worth $173,000 after acquiring an additional 93 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Garmin by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 199,713 shares of the scientific and technical instruments company’s stock worth $35,155,000 after acquiring an additional 5,965 shares in the last quarter. Assetmark Inc. boosted its stake in Garmin by 24.6% in the 3rd quarter. Assetmark Inc. now owns 8,005 shares of the scientific and technical instruments company’s stock worth $1,409,000 after purchasing an additional 1,580 shares during the period. Crossmark Global Holdings Inc. boosted its stake in Garmin by 14.7% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 56,375 shares of the scientific and technical instruments company’s stock worth $9,924,000 after purchasing an additional 7,236 shares during the period. Finally, Buckingham Capital Management Inc. boosted its stake in Garmin by 0.7% in the 3rd quarter. Buckingham Capital Management Inc. now owns 11,715 shares of the scientific and technical instruments company’s stock worth $2,062,000 after purchasing an additional 80 shares during the period. 81.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GRMN shares. JPMorgan Chase & Co. upped their price target on Garmin from $219.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Tigress Financial upped their price target on Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, February 26th. Morgan Stanley upgraded Garmin to a “sell” rating and upped their price target for the stock from $164.00 to $171.00 in a research note on Tuesday, February 11th. Finally, Barclays upped their price target on Garmin from $158.00 to $188.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Three 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $210.80.

Insider Buying and Selling

In related news, CEO Clifton A. Pemble sold 7,202 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $227.14, for a total value of $1,635,862.28. Following the completion of the sale, the chief executive officer now directly owns 149,525 shares in the company, valued at $33,963,108.50. This trade represents a 4.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Douglas G. Boessen sold 2,763 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $226.55, for a total value 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 represents a 8.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,274 shares of company stock worth $5,242,686 over the last three months. 19.54% of the stock is owned by insiders.

Garmin Stock Performance

NYSE GRMN opened at $215.11 on Tuesday. The company has a market capitalization of $41.39 billion, a P/E ratio of 29.43, a P/E/G ratio of 1.36 and a beta of 0.96. Garmin Ltd. has a one year low of $138.86 and a one year high of $246.50. The stock has a 50 day moving average price of $216.43 and a 200-day moving average price of $199.91.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.51. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.70 billion. Garmin had a return on equity of 19.31% and a net margin of 22.42%. The company’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.72 EPS. As a group, equities 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. Stockholders of record on Friday, March 13th will be given a dividend of $0.90 per share. The ex-dividend date is Friday, March 13th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.67%. Garmin’s dividend payout ratio is currently 41.04%.

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.