Zurcher Kantonalbank Zurich Cantonalbank Has $21.13 Million Stock Holdings in Garmin Ltd. (NYSE:GRMN)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Garmin Ltd. (NYSE:GRMN) by 10.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 102,425 shares of the scientific and technical instruments company’s stock after buying an additional 9,741 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Garmin were worth $21,126,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. State Street Corp raised its holdings in shares of Garmin by 2.0% during the third quarter. State Street Corp now owns 6,912,536 shares of the scientific and technical instruments company’s stock worth $1,216,819,000 after acquiring an additional 134,303 shares in the last quarter. Geode Capital Management LLC grew its stake in Garmin by 2.7% in the third 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 purchasing an additional 112,815 shares in the last quarter. FMR LLC increased 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 worth $664,540,000 after purchasing an additional 1,093,219 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its stake in shares of Garmin by 3.6% during the 3rd 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 purchasing an additional 48,645 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Garmin by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 889,838 shares of the scientific and technical instruments company’s stock valued at $183,538,000 after buying an additional 14,200 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Insider Buying and Selling

In other Garmin news, CFO Douglas G. Boessen sold 1,761 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $207.99, for a total value of $366,270.39. Following the sale, the chief financial officer now directly owns 27,612 shares in the company, valued at $5,743,019.88. This trade represents a 6.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Susan Lyman sold 2,829 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $215.51, for a total transaction of $609,677.79. Following the transaction, the vice president now 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 26,103 shares of company stock valued at $5,852,364. Insiders own 19.54% of the company’s stock.

Wall Street Analyst Weigh In

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

Garmin Stock Down 0.9 %

Shares of GRMN stock opened at $213.48 on Wednesday. Garmin Ltd. has a 12 month low of $138.86 and a 12 month high of $246.50. The company has a market cap of $41.07 billion, a PE ratio of 29.20, a price-to-earnings-growth ratio of 1.36 and a beta of 0.96. The business’s 50 day moving average is $216.57 and its two-hundred day moving average is $200.15.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Garmin’s revenue was up 22.9% compared to the same quarter last year. During the same period last year, the business posted $1.72 EPS. As a group, equities analysts expect that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a $0.90 dividend. The ex-dividend date is Friday, March 13th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.69%. Garmin’s payout ratio is presently 41.04%.

Garmin 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.