698 Shares in Garmin Ltd. (NYSE:GRMN) Acquired by ORG Partners LLC

ORG Partners LLC bought a new position in shares of Garmin Ltd. (NYSE:GRMN) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 698 shares of the scientific and technical instruments company’s stock, valued at approximately $112,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new stake in shares of Garmin during the fourth quarter worth approximately $8,691,000. Sequoia Financial Advisors LLC bought a new stake in Garmin in the fourth quarter valued at $413,000. Cerity Partners LLC lifted its stake in Garmin by 5.9% in the fourth quarter. Cerity Partners LLC now owns 36,854 shares of the scientific and technical instruments company’s stock valued at $4,737,000 after buying an additional 2,060 shares during the last quarter. Simplicity Solutions LLC lifted its stake in Garmin by 104.6% in the fourth quarter. Simplicity Solutions LLC now owns 4,477 shares of the scientific and technical instruments company’s stock valued at $575,000 after buying an additional 2,289 shares during the last quarter. Finally, Louisiana State Employees Retirement System bought a new stake in Garmin in the fourth quarter valued at $1,195,000. Institutional investors and hedge funds own 73.41% of the company’s stock.

Garmin Trading Up 0.3 %

NYSE GRMN traded up $0.45 during trading on Thursday, reaching $170.45. 100,099 shares of the company’s stock were exchanged, compared to its average volume of 848,850. Garmin Ltd. has a fifty-two week low of $99.61 and a fifty-two week high of $179.76. The firm has a market capitalization of $32.74 billion, a PE ratio of 24.07, a P/E/G ratio of 3.55 and a beta of 0.98. The company’s fifty day simple moving average is $166.07 and its 200-day simple moving average is $152.97.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.18. Garmin had a return on equity of 17.09% and a net margin of 24.36%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period in the previous year, the company earned $1.45 EPS. The firm’s revenue was up 14.3% on a year-over-year basis. Equities analysts forecast that Garmin Ltd. will post 6 EPS for the current fiscal year.

Garmin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.00 annualized dividend and a yield of 1.76%. Garmin’s dividend payout ratio (DPR) is currently 42.31%.

Insider Buying and Selling

In other Garmin news, CFO Douglas G. Boessen sold 2,350 shares of Garmin stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $161.63, for a total value of $379,830.50. Following the transaction, the chief financial officer now directly owns 28,010 shares of the company’s stock, valued at approximately $4,527,256.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Garmin news, EVP Patrick Desbois sold 4,126 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $163.52, for a total value of $674,683.52. Following the sale, the executive vice president now directly owns 58,412 shares in the company, valued at $9,551,530.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Douglas G. Boessen sold 2,350 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $161.63, for a total value of $379,830.50. Following the completion of the sale, the chief financial officer now owns 28,010 shares in the company, valued at $4,527,256.30. The disclosure for this sale can be found here. Corporate insiders own 19.54% of the company’s stock.

Wall Street Analyst Weigh In

GRMN has been the topic of a number of recent research reports. Bank of America cut Garmin from a “neutral” rating to an “underperform” rating and cut their target price for the company from $165.00 to $150.00 in a research note on Wednesday, May 22nd. Tigress Financial lifted their price objective on shares of Garmin from $175.00 to $210.00 and gave the company a “strong-buy” rating in a research note on Tuesday, May 14th. Barclays lifted their price objective on shares of Garmin from $140.00 to $166.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. StockNews.com upgraded shares of Garmin from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Garmin from $155.00 to $175.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Garmin currently has an average rating of “Hold” and an average price target of $156.83.

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.