NewSquare Capital LLC Decreases Position in Garmin Ltd. (NYSE:GRMN)

NewSquare Capital LLC trimmed its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 0.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 33,852 shares of the scientific and technical instruments company’s stock after selling 123 shares during the period. NewSquare Capital LLC’s holdings in Garmin were worth $6,888,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new stake in shares of Garmin in the 4th quarter valued at about $26,000. Pinnacle Bancorp Inc. bought a new position in Garmin during the 4th quarter worth approximately $29,000. Larson Financial Group LLC increased its stake in Garmin by 578.6% in the 3rd quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 162 shares during the period. SOA Wealth Advisors LLC. bought a new stake in Garmin in the fourth quarter valued at approximately $37,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of Garmin during the third quarter valued at approximately $39,000. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 1,761 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $207.99, for a total transaction of $366,270.39. Following the transaction, the chief financial officer now owns 27,612 shares in the company, valued at approximately $5,743,019.88. This represents a 6.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Clifton A. Pemble sold 7,202 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $227.14, for a total transaction of $1,635,862.28. Following the sale, the chief executive officer now directly owns 149,525 shares in the company, 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. Insiders sold 23,274 shares of company stock valued at $5,242,686 over the last 90 days. Corporate insiders own 19.54% of the company’s stock.

Garmin Trading Down 2.7 %

Garmin stock opened at $220.03 on Wednesday. Garmin Ltd. has a 12 month low of $138.30 and a 12 month high of $246.50. The company has a market capitalization of $42.33 billion, a price-to-earnings ratio of 30.10, a price-to-earnings-growth ratio of 1.36 and a beta of 0.98. The business’s fifty day simple moving average is $215.57 and its two-hundred day simple moving average is $198.69.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.51. Garmin had a net margin of 22.42% and a return on equity of 19.31%. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Garmin’s revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.72 EPS. On average, equities research analysts predict that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Announces Dividend

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 issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Friday, March 13th. Garmin’s payout ratio is 41.04%.

Garmin Company 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.