Garmin Ltd. (NYSE:GRMN) Holdings Increased by Xponance Inc.

Xponance Inc. increased its stake in Garmin Ltd. (NYSE:GRMN) by 6.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,397 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,292 shares during the period. Xponance Inc.’s holdings in Garmin were worth $4,620,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Prospera Financial Services Inc boosted its stake in Garmin by 5.5% in the 3rd quarter. Prospera Financial Services Inc now owns 5,290 shares of the scientific and technical instruments company’s stock worth $932,000 after purchasing an additional 276 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Garmin by 10.3% during the third quarter. PNC Financial Services Group Inc. now owns 17,604 shares of the scientific and technical instruments company’s stock valued at $3,099,000 after buying an additional 1,637 shares in the last quarter. Strategy Asset Managers LLC acquired a new position in Garmin during the third quarter valued at $470,000. Advisors Asset Management Inc. increased its holdings in shares of Garmin by 24.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 17,529 shares of the scientific and technical instruments company’s stock valued at $3,086,000 after purchasing an additional 3,415 shares during the period. Finally, King Luther Capital Management Corp boosted its holdings in shares of Garmin by 1.6% during the third quarter. King Luther Capital Management Corp now owns 8,973 shares of the scientific and technical instruments company’s stock worth $1,580,000 after purchasing an additional 141 shares during the period. Institutional investors and hedge funds own 81.60% of the company’s stock.

Analysts Set New Price Targets

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

Insider Transactions at Garmin

In other news, CFO Douglas G. Boessen sold 2,763 shares of Garmin stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $226.55, for a total value of $625,957.65. Following the transaction, the chief financial officer now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Clifton A. Pemble sold 7,202 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $227.14, for a total value of $1,635,862.28. Following the sale, the chief executive officer now owns 149,525 shares of the company’s stock, valued at approximately $33,963,108.50. The trade was a 4.60 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,342 shares of company stock worth $5,486,094. 19.54% of the stock is owned by insiders.

Garmin Trading Down 0.1 %

Garmin stock opened at $208.50 on Friday. The company has a market capitalization of $40.12 billion, a P/E ratio of 28.52, a P/E/G ratio of 1.36 and a beta of 0.96. Garmin Ltd. has a 1-year low of $138.86 and a 1-year high of $246.50. The firm’s fifty day simple moving average is $216.95 and its 200-day simple moving average is $201.33.

Garmin (NYSE:GRMN) last announced its quarterly earnings results 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. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Garmin had a return on equity of 19.31% and a net margin of 22.42%. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.72 earnings per share. On average, equities research analysts predict that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders 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 dividend yield of 1.73%. The ex-dividend date of this dividend is Friday, March 13th. Garmin’s dividend payout ratio is 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.