Intrepid Capital Management Inc. Has $2.60 Million Stake in Garmin Ltd. (NYSE:GRMN)

Intrepid Capital Management Inc. reduced its position in shares of Garmin Ltd. (NYSE:GRMN) by 25.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,580 shares of the scientific and technical instruments company’s stock after selling 4,369 shares during the period. Garmin makes up approximately 1.3% of Intrepid Capital Management Inc.’s investment portfolio, making the stock its 19th biggest position. Intrepid Capital Management Inc.’s holdings in Garmin were worth $2,595,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GRMN. Townsquare Capital LLC increased its position in Garmin by 74.9% during the 3rd quarter. Townsquare Capital LLC now owns 2,700 shares of the scientific and technical instruments company’s stock worth $475,000 after purchasing an additional 1,156 shares in the last quarter. Glenmede Trust Co. NA grew its position in Garmin by 44.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 2,326 shares of the scientific and technical instruments company’s stock worth $409,000 after acquiring an additional 712 shares during the last quarter. Public Sector Pension Investment Board raised its position in Garmin by 11.7% in the third quarter. Public Sector Pension Investment Board now owns 6,682 shares of the scientific and technical instruments company’s stock valued at $1,176,000 after purchasing an additional 700 shares during the last quarter. Benjamin Edwards Inc. increased its stake in shares of Garmin by 16,646.2% in the third quarter. Benjamin Edwards Inc. now owns 39,186 shares of the scientific and technical instruments company’s stock valued at $6,899,000 after buying an additional 38,952 shares during the period. Finally, HighTower Advisors LLC raised its stake in shares of Garmin by 12.0% during the third quarter. HighTower Advisors LLC now owns 54,922 shares of the scientific and technical instruments company’s stock valued at $9,672,000 after acquiring an additional 5,890 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Garmin

In other news, CFO Douglas G. Boessen sold 2,763 shares of the business’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 transaction, the chief financial officer now owns 30,936 shares in the company, valued at $7,008,550.80. The trade was a 8.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Clifton A. Pemble sold 7,202 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $227.14, for a total value of $1,635,862.28. Following the sale, the chief executive officer now directly owns 149,525 shares of the company’s stock, valued at $33,963,108.50. The trade was a 4.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,342 shares of company stock worth $5,486,094. Corporate insiders own 19.54% of the company’s stock.

Analyst Upgrades and Downgrades

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

Garmin Trading Up 0.2 %

Garmin stock opened at $217.48 on Wednesday. The firm has a market capitalization of $41.84 billion, a price-to-earnings ratio of 29.75, a price-to-earnings-growth ratio of 1.36 and a beta of 0.96. The firm’s fifty day moving average price is $217.34 and its two-hundred day moving average price is $203.59. Garmin Ltd. has a 1-year low of $138.86 and a 1-year high of $246.50.

Garmin (NYSE:GRMN) last released 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 analysts’ consensus estimates of $1.90 by $0.51. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.70 billion. Garmin had a return on equity of 19.31% and a net margin of 22.42%. The company’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.72 EPS. On average, research analysts forecast that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Friday, March 13th. Garmin’s payout ratio is currently 49.25%.

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.