SBI Securities Co. Ltd. Purchases Shares of 699 Garmin Ltd. (NYSE:GRMN)

SBI Securities Co. Ltd. acquired a new position in shares of Garmin Ltd. (NYSE:GRMN) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 699 shares of the scientific and technical instruments company’s stock, valued at approximately $144,000.

A number of other hedge funds also recently made changes to their positions in the stock. Jones Financial Companies Lllp lifted its holdings in shares of Garmin by 37.6% during the 4th quarter. Jones Financial Companies Lllp now owns 5,866 shares of the scientific and technical instruments company’s stock worth $1,210,000 after acquiring an additional 1,604 shares during the last quarter. SRS Capital Advisors Inc. raised its position in Garmin by 49.3% in the 4th quarter. SRS Capital Advisors Inc. now owns 309 shares of the scientific and technical instruments company’s stock worth $64,000 after purchasing an additional 102 shares during the period. Norden Group LLC purchased a new position in Garmin in the 4th quarter worth $216,000. Smartleaf Asset Management LLC raised its position in Garmin by 32.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 909 shares of the scientific and technical instruments company’s stock worth $189,000 after purchasing an additional 224 shares during the period. Finally, Tower View Wealth Management LLC purchased a new position in Garmin in the 4th quarter worth $3,357,000. 81.60% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Douglas G. Boessen sold 1,761 shares of the business’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 sale, the chief financial officer now owns 27,612 shares of the company’s stock, valued at $5,743,019.88. The trade was a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Clifton A. Pemble sold 7,202 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was 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 $33,963,108.50. The trade was a 4.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,274 shares of company stock valued at $5,242,686 over the last quarter. Corporate insiders own 19.54% of the company’s stock.

Garmin Price Performance

Shares of NYSE GRMN opened at $219.51 on Friday. Garmin Ltd. has a 1 year low of $138.86 and a 1 year high of $246.50. The company’s 50-day moving average is $216.28 and its 200 day moving average is $199.34. The stock has a market capitalization of $42.23 billion, a P/E ratio of 30.03, a P/E/G ratio of 1.36 and a beta of 0.98.

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, beating the consensus estimate 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. During the same quarter in the previous year, the company earned $1.72 earnings per share. Garmin’s quarterly revenue was up 22.9% on a year-over-year basis. Research analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Friday, March 13th. Garmin’s payout ratio is currently 41.04%.

Wall Street Analysts Forecast Growth

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

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.