912 Shares in Garmin Ltd. (NYSE:GRMN) Bought by Synergy Investment Management LLC

Synergy Investment Management LLC bought a new stake in shares of Garmin Ltd. (NYSE:GRMN) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 912 shares of the scientific and technical instruments company’s stock, valued at approximately $188,000.

A number of other institutional investors and hedge funds also recently modified their holdings of GRMN. Golden State Wealth Management LLC bought a new position in Garmin during the 4th quarter worth $26,000. Pinnacle Bancorp Inc. acquired a new position in shares of Garmin during the fourth quarter valued at $29,000. Larson Financial Group LLC grew its position in shares of Garmin by 578.6% during the third quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock worth $33,000 after acquiring an additional 162 shares during the last quarter. SOA Wealth Advisors LLC. acquired a new stake in shares of Garmin in the 4th quarter worth about $37,000. Finally, Itau Unibanco Holding S.A. bought a new stake in Garmin in the 3rd quarter valued at about $39,000. 81.60% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Garmin

In other news, CEO Clifton A. Pemble sold 7,202 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 149,525 shares of the company’s stock, valued at $33,963,108.50. This trade represents a 4.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Douglas G. Boessen sold 1,761 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $207.99, for a total value of $366,270.39. Following the sale, the chief financial officer now directly owns 27,612 shares in the company, valued at $5,743,019.88. This trade represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,274 shares of company stock valued at $5,242,686 in the last quarter. Insiders own 19.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented 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 research note on Thursday, February 20th. Morgan Stanley upgraded Garmin to a “sell” rating and raised their target price for the company from $164.00 to $171.00 in a research report on Tuesday, February 11th. Tigress Financial lifted their target price on Garmin from $265.00 to $285.00 and gave the company a “strong-buy” rating in a research note on Wednesday, February 26th. Finally, Barclays increased their price target on Garmin from $158.00 to $188.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Three 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 company. Based on data from MarketBeat.com, Garmin has a consensus rating of “Hold” and an average price target of $210.80.

Garmin Price Performance

Shares of NYSE:GRMN opened at $225.95 on Tuesday. The stock has a market cap of $43.47 billion, a price-to-earnings ratio of 30.91, a PEG ratio of 1.36 and a beta of 0.98. Garmin Ltd. has a 12 month low of $137.00 and a 12 month high of $246.50. The stock’s 50 day moving average price is $215.39 and its 200 day moving average price is $198.35.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.51. Garmin had a return on equity of 19.31% and a net margin of 22.42%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the previous year, the business earned $1.72 EPS. The company’s quarterly revenue was up 22.9% compared to the same quarter last year. On average, sell-side analysts expect that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.60 annualized dividend and a dividend yield of 1.59%. Garmin’s dividend payout ratio (DPR) 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.