1,789 Shares in Garmin Ltd. (NYSE:GRMN) Acquired by Trust Asset Management LLC

Trust Asset Management LLC bought a new position in shares of Garmin Ltd. (NYSE:GRMN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,789 shares of the scientific and technical instruments company’s stock, valued at approximately $230,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wetzel Investment Advisors Inc. acquired a new stake in Garmin during the 4th quarter valued at $26,000. Avior Wealth Management LLC increased its holdings in Garmin by 169.5% during the 3rd quarter. Avior Wealth Management LLC now owns 283 shares of the scientific and technical instruments company’s stock valued at $30,000 after purchasing an additional 178 shares in the last quarter. Headinvest LLC acquired a new stake in Garmin during the 3rd quarter valued at $41,000. Blue Trust Inc. increased its holdings in Garmin by 35.2% during the 4th quarter. Blue Trust Inc. now owns 380 shares of the scientific and technical instruments company’s stock valued at $49,000 after purchasing an additional 99 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in Garmin during the 4th quarter valued at $51,000. Institutional investors own 73.41% of the company’s stock.

Garmin Trading Up 0.2 %

Shares of Garmin stock traded up $0.24 during trading on Thursday, reaching $143.03. The stock had a trading volume of 528,226 shares, compared to its average volume of 938,937. The company has a market capitalization of $27.43 billion, a price-to-earnings ratio of 21.32, a P/E/G ratio of 4.67 and a beta of 0.98. The stock has a fifty day moving average price of $142.08 and a two-hundred day moving average price of $127.32. Garmin Ltd. has a 52 week low of $94.89 and a 52 week high of $149.54.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, February 21st. The scientific and technical instruments company reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.32. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.41 billion. Garmin had a return on equity of 16.60% and a net margin of 24.67%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.35 earnings per share. On average, equities analysts forecast that Garmin Ltd. will post 5.45 EPS for the current fiscal year.

Garmin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Friday, December 13th. Garmin’s dividend payout ratio is currently 43.52%.

Analyst Ratings Changes

Several research firms have recently commented on GRMN. Tigress Financial reissued a “strong-buy” rating and issued a $175.00 target price (up from $165.00) on shares of Garmin in a research note on Tuesday, February 27th. StockNews.com raised Garmin from a “hold” rating to a “buy” rating in a research note on Tuesday. Barrington Research lifted their target price on Garmin from $119.00 to $140.00 and gave the company an “equal weight” rating in a research note on Thursday, February 22nd. Bank of America lifted their target price on Garmin from $120.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. lifted their target price on Garmin from $139.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $142.33.

Insiders Place Their Bets

In other Garmin news, VP Susan Lyman sold 2,587 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $135.18, for a total transaction of $349,710.66. Following the transaction, the vice president now owns 7,174 shares of the company’s stock, valued at $969,781.32. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Jonathan Burrell sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $140.00, for a total value of $2,100,000.00. Following the transaction, the director now owns 758,834 shares of the company’s stock, valued at $106,236,760. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Susan Lyman sold 2,587 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $135.18, for a total value of $349,710.66. Following the completion of the sale, the vice president now owns 7,174 shares of the company’s stock, valued at $969,781.32. The disclosure for this sale can be found here. Insiders have sold a total of 99,476 shares of company stock valued at $14,166,944 over the last 90 days. 19.89% of the stock is currently owned by insiders.

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.