AGF Management Ltd. lessened its position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 2.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 65,214 shares of the scientific and technical instruments company's stock after selling 1,329 shares during the quarter. AGF Management Ltd.'s holdings in Garmin were worth $13,451,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Wealthfront Advisers LLC raised its position in shares of Garmin by 10.6% in the fourth quarter. Wealthfront Advisers LLC now owns 29,082 shares of the scientific and technical instruments company's stock valued at $5,998,000 after buying an additional 2,778 shares during the last quarter. Inspire Advisors LLC raised its holdings in Garmin by 4.1% in the 4th quarter. Inspire Advisors LLC now owns 8,181 shares of the scientific and technical instruments company's stock valued at $1,687,000 after acquiring an additional 323 shares during the last quarter. Miller Financial Services LLC acquired a new position in Garmin in the 4th quarter valued at $637,000. King Luther Capital Management Corp lifted its stake in shares of Garmin by 1.7% during the 4th quarter. King Luther Capital Management Corp now owns 9,125 shares of the scientific and technical instruments company's stock worth $1,882,000 after purchasing an additional 152 shares during the period. Finally, Sage Mountain Advisors LLC boosted its holdings in shares of Garmin by 25.5% during the fourth quarter. Sage Mountain Advisors LLC now owns 1,619 shares of the scientific and technical instruments company's stock worth $334,000 after purchasing an additional 329 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company's stock.
Garmin stock traded up $2.57 during midday trading on Wednesday, hitting $215.78. 814,788 shares of the stock were exchanged, compared to its average volume of 868,819. Garmin Ltd. has a 1 year low of $138.86 and a 1 year high of $246.50. The firm has a market cap of $41.52 billion, a P/E ratio of 29.52, a P/E/G ratio of 1.36 and a beta of 0.96. The company has a 50 day moving average price of $216.57 and a two-hundred day moving average price of $200.15.
Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 EPS for the quarter, topping the consensus estimate of $1.90 by $0.51. Garmin had a return on equity of 19.31% and a net margin of 22.42%. The business 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 firm posted $1.72 earnings per share. The company's revenue was up 22.9% compared to the same quarter last year. As a group, analysts predict that Garmin Ltd. will post 7.8 EPS for the current year.
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 issued a $0.90 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.60 annualized dividend and a yield of 1.67%. Garmin's dividend payout ratio is presently 41.04%.
In related news, COO Patrick Desbois sold 6,911 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $227.15, for a total transaction of $1,569,833.65. Following the sale, the chief operating officer now directly owns 63,048 shares of the company's stock, valued at approximately $14,321,353.20. This represents a 9.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Susan Lyman sold 2,829 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $215.51, for a total value of $609,677.79. Following the transaction, the vice president now owns 8,432 shares in the company, valued at $1,817,180.32. This trade represents a 25.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,103 shares of company stock worth $5,852,364 in the last ninety days. 19.54% of the stock is owned by insiders.
Several equities analysts recently commented on the company. JPMorgan Chase & Co. upped their target price on Garmin from $219.00 to $260.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Morgan Stanley raised shares of Garmin to a "sell" rating and upped their price objective for the company from $164.00 to $171.00 in a research note on Tuesday, February 11th. Barclays increased their price objective on shares of Garmin from $158.00 to $188.00 and gave the stock an "underweight" rating in a report on Thursday, February 20th. Finally, Tigress Financial boosted their target price on shares of Garmin from $265.00 to $285.00 and gave the company a "strong-buy" rating in a report on Wednesday, February 26th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Garmin presently has a consensus rating of "Hold" and a consensus price target of $210.80.
View Our Latest Research Report on 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.
Before you consider Garmin, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Garmin wasn't on the list.
While Garmin currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.