Elo Mutual Pension Insurance Co Has $3.24 Million Stock Holdings in Garmin Ltd. (NYSE:GRMN)

Elo Mutual Pension Insurance Co increased its position in shares of Garmin Ltd. (NYSE:GRMN) by 15.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,702 shares of the scientific and technical instruments company’s stock after acquiring an additional 2,104 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Garmin were worth $3,239,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of GRMN. Geneos Wealth Management Inc. raised its stake in shares of Garmin by 1.7% during the 4th quarter. Geneos Wealth Management Inc. now owns 2,863 shares of the scientific and technical instruments company’s stock worth $591,000 after purchasing an additional 49 shares in the last quarter. Curbstone Financial Management Corp raised its position in Garmin by 1.3% during the fourth quarter. Curbstone Financial Management Corp now owns 3,886 shares of the scientific and technical instruments company’s stock valued at $802,000 after acquiring an additional 50 shares in the last quarter. Larson Financial Group LLC lifted its stake in Garmin by 26.8% in the fourth quarter. Larson Financial Group LLC now owns 241 shares of the scientific and technical instruments company’s stock valued at $50,000 after acquiring an additional 51 shares during the last quarter. Addison Advisors LLC lifted its stake in Garmin by 11.1% in the fourth quarter. Addison Advisors LLC now owns 522 shares of the scientific and technical instruments company’s stock valued at $108,000 after acquiring an additional 52 shares during the last quarter. Finally, HB Wealth Management LLC grew its position in Garmin by 1.4% in the fourth quarter. HB Wealth Management LLC now owns 3,821 shares of the scientific and technical instruments company’s stock worth $788,000 after acquiring an additional 53 shares in the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Insider Buying and Selling

In other Garmin news, CFO Douglas G. Boessen sold 2,763 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $226.55, for a total value of $625,957.65. Following the completion of the sale, the chief financial officer now owns 30,936 shares in the company, valued at approximately $7,008,550.80. This trade represents a 8.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Susan Lyman sold 2,829 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $215.51, for a total value of $609,677.79. Following the sale, the vice president now owns 8,432 shares in the company, valued at approximately $1,817,180.32. This represents a 25.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,342 shares of company stock valued at $5,486,094. 19.54% of the stock is owned by company insiders.

Garmin Price Performance

Garmin stock opened at $213.59 on Friday. Garmin Ltd. has a fifty-two week low of $138.86 and a fifty-two week high of $246.50. The firm has a fifty day moving average price of $217.31 and a two-hundred day moving average price of $202.73. The firm has a market cap of $41.10 billion, a price-to-earnings ratio of 29.22, a P/E/G ratio of 1.36 and a beta of 0.96.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.51. The business 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 firm’s 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 EPS. As a group, sell-side analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a $0.90 dividend. The ex-dividend date is Friday, March 13th. This represents a $3.60 annualized dividend and a dividend yield of 1.69%. Garmin’s payout ratio is 49.25%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on GRMN shares. JPMorgan Chase & Co. raised 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. Barclays raised their target price on Garmin from $158.00 to $188.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. Morgan Stanley raised Garmin to a “sell” rating and boosted their price target for the stock from $164.00 to $171.00 in a research report on Tuesday, February 11th. Finally, Tigress Financial increased their price objective on Garmin from $265.00 to $285.00 and gave the company a “strong-buy” rating in a report on Wednesday, February 26th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Garmin has a consensus rating of “Hold” and a consensus price target of $210.80.

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.