Marshall Financial Group LLC Sells 183 Shares of Garmin Ltd. (NYSE:GRMN)

Marshall Financial Group LLC trimmed its position in shares of Garmin Ltd. (NYSE:GRMN) by 1.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 15,824 shares of the scientific and technical instruments company’s stock after selling 183 shares during the period. Garmin makes up about 0.7% of Marshall Financial Group LLC’s holdings, making the stock its 29th biggest holding. Marshall Financial Group LLC’s holdings in Garmin were worth $2,578,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Artisan Partners Limited Partnership boosted its holdings in shares of Garmin by 0.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 7,310,112 shares of the scientific and technical instruments company’s stock valued at $939,642,000 after acquiring an additional 63,278 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Garmin by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,715,703 shares of the scientific and technical instruments company’s stock worth $220,541,000 after buying an additional 45,242 shares during the last quarter. Boston Partners boosted its holdings in shares of Garmin by 4.3% in the first quarter. Boston Partners now owns 1,416,130 shares of the scientific and technical instruments company’s stock worth $210,799,000 after buying an additional 58,343 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Garmin by 4.4% in the fourth quarter. Wells Fargo & Company MN now owns 1,291,589 shares of the scientific and technical instruments company’s stock worth $166,021,000 after buying an additional 54,001 shares during the last quarter. Finally, California Public Employees Retirement System boosted its holdings in shares of Garmin by 0.7% in the fourth quarter. California Public Employees Retirement System now owns 932,299 shares of the scientific and technical instruments company’s stock worth $119,838,000 after buying an additional 6,858 shares during the last quarter. 73.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GRMN shares. Tigress Financial raised their price objective on shares of Garmin from $175.00 to $210.00 and gave the stock a “strong-buy” rating in a report on Tuesday, May 14th. Bank of America downgraded shares of Garmin from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $165.00 to $150.00 in a report on Wednesday, May 22nd. JPMorgan Chase & Co. raised their price objective on shares of Garmin from $155.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Barclays raised their target price on shares of Garmin from $140.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Finally, StockNews.com upgraded shares of Garmin from a “hold” rating to a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Garmin currently has an average rating of “Hold” and a consensus target price of $156.83.

Insiders Place Their Bets

In other Garmin news, EVP Patrick Desbois sold 4,126 shares of Garmin stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $163.52, for a total transaction of $674,683.52. Following the completion of the transaction, the executive vice president now directly owns 58,412 shares of the company’s stock, valued at $9,551,530.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Douglas G. Boessen sold 2,350 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $161.63, for a total transaction of $379,830.50. Following the completion of the sale, the chief financial officer now directly owns 28,010 shares of the company’s stock, valued at $4,527,256.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Patrick Desbois sold 4,126 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $163.52, for a total transaction of $674,683.52. Following the sale, the executive vice president now directly owns 58,412 shares of the company’s stock, valued at $9,551,530.24. The disclosure for this sale can be found here. 19.54% of the stock is owned by insiders.

Garmin Trading Up 0.7 %

Shares of GRMN stock traded up $1.24 on Friday, reaching $172.06. The company’s stock had a trading volume of 728,219 shares, compared to its average volume of 852,055. The stock’s fifty day simple moving average is $166.39 and its 200-day simple moving average is $153.65. Garmin Ltd. has a 1 year low of $99.61 and a 1 year high of $179.76. The company has a market capitalization of $33.05 billion, a price-to-earnings ratio of 24.27, a price-to-earnings-growth ratio of 3.55 and a beta of 0.98.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.18. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.42 billion. Garmin had a net margin of 24.36% and a return on equity of 17.09%. Garmin’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period last year, the firm posted $1.45 earnings per share. Equities research analysts forecast that Garmin Ltd. will post 6 earnings per share for the current year.

Garmin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Friday, March 14th. Garmin’s payout ratio is 42.31%.

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.