TRUE Private Wealth Advisors Invests $229,000 in Garmin Ltd. (NYSE:GRMN)

TRUE Private Wealth Advisors acquired a new position in shares of Garmin Ltd. (NYSE:GRMN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,783 shares of the scientific and technical instruments company’s stock, valued at approximately $229,000.

Several other institutional investors also recently modified their holdings of the company. SVB Wealth LLC acquired a new stake in shares of Garmin during the 4th quarter worth approximately $207,000. Cullen Investment Group LTD. acquired a new stake in shares of Garmin during the 4th quarter worth approximately $4,307,000. Beverly Hills Private Wealth LLC acquired a new stake in Garmin in the 4th quarter valued at $239,000. PCG Wealth Advisors LLC acquired a new stake in Garmin in the 4th quarter valued at $230,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Garmin by 0.3% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 560,985 shares of the scientific and technical instruments company’s stock valued at $72,109,000 after buying an additional 1,468 shares in the last quarter. Institutional investors and hedge funds own 73.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GRMN. Bank of America boosted their price target on Garmin from $120.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Barrington Research boosted their price target on Garmin from $119.00 to $140.00 and gave the company an “equal weight” rating in a research note on Thursday, February 22nd. StockNews.com upgraded Garmin from a “hold” rating to a “buy” rating in a research report on Wednesday. Tigress Financial reiterated a “strong-buy” rating and issued a $175.00 price objective (up previously from $165.00) on shares of Garmin in a research report on Tuesday, February 27th. Finally, JPMorgan Chase & Co. lifted their price objective on Garmin from $139.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $142.33.

Garmin Stock Down 0.3 %

GRMN stock opened at $140.63 on Friday. The company has a market cap of $26.97 billion, a P/E ratio of 20.96, a PEG ratio of 4.63 and a beta of 0.98. Garmin Ltd. has a twelve month low of $94.89 and a twelve month high of $149.54. The business has a fifty day moving average of $140.20 and a 200-day moving average of $126.02.

Garmin (NYSE:GRMN) last released its earnings results on Wednesday, February 21st. The scientific and technical instruments company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.32. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.41 billion. Garmin had a return on equity of 16.60% and a net margin of 24.67%. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.35 earnings per share. As a group, equities research analysts anticipate that Garmin Ltd. will post 5.45 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, December 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.13%. Garmin’s payout ratio is currently 43.52%.

Insider Transactions at Garmin

In related news, Director Jonathan Burrell sold 15,000 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $146.15, for a total value of $2,192,250.00. Following the completion of the sale, the director now owns 623,834 shares in the company, valued at $91,173,339.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Douglas G. Boessen sold 5,267 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $134.56, for a total value of $708,727.52. Following the completion of the sale, the chief financial officer now owns 30,360 shares in the company, valued at $4,085,241.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonathan Burrell sold 15,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $146.15, for a total value of $2,192,250.00. Following the completion of the sale, the director now owns 623,834 shares of the company’s stock, valued at approximately $91,173,339.10. The disclosure for this sale can be found here. Insiders sold a total of 99,476 shares of company stock worth $14,166,944 over the last 90 days. 19.89% of the stock is owned by insiders.

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.