Lifeworks Advisors LLC Increases Stock Holdings in Garmin Ltd. (NYSE:GRMN)

Lifeworks Advisors LLC increased its holdings in Garmin Ltd. (NYSE:GRMN) by 0.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,169 shares of the scientific and technical instruments company’s stock after buying an additional 58 shares during the period. Lifeworks Advisors LLC’s holdings in Garmin were worth $4,160,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in Garmin during the fourth quarter worth about $26,000. Pinnacle Bancorp Inc. acquired a new position in shares of Garmin during the 4th quarter worth approximately $29,000. Larson Financial Group LLC raised its position in shares of Garmin by 578.6% during the 3rd quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 162 shares during the last quarter. SOA Wealth Advisors LLC. purchased a new stake in Garmin in the 4th quarter valued at approximately $37,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in Garmin during the 3rd quarter valued at $39,000. 81.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Tigress Financial boosted their price target on Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a report on Wednesday, February 26th. Barclays boosted their target price on shares of Garmin from $158.00 to $188.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. raised their price target on shares of Garmin from $219.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Finally, Morgan Stanley raised shares of Garmin to a “sell” rating and boosted their price objective for the company from $164.00 to $171.00 in a research report on Tuesday, February 11th. Three investment 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 company’s stock. Based on data from MarketBeat, Garmin has a consensus rating of “Hold” and a consensus price target of $210.80.

Garmin Price Performance

Shares of GRMN opened at $219.51 on Friday. Garmin Ltd. has a 12 month low of $138.86 and a 12 month high of $246.50. The stock’s 50-day moving average is $216.28 and its two-hundred day moving average is $199.34. The stock has a market cap of $42.23 billion, a PE ratio of 30.03, a P/E/G ratio of 1.36 and a beta of 0.98.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.51. The firm 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%. Garmin’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.72 earnings per share. On average, research analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Announces Dividend

The company also recently declared 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 is Friday, March 13th. This represents a $3.60 annualized dividend and a dividend yield of 1.64%. Garmin’s dividend payout ratio is currently 41.04%.

Insider Buying and Selling

In other Garmin news, COO Patrick Desbois sold 6,911 shares of the business’s stock in a transaction 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 completion of the transaction, the chief operating officer now owns 63,048 shares in the company, valued at approximately $14,321,353.20. The trade was a 9.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Clifton A. Pemble sold 7,202 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 149,525 shares in the company, valued at $33,963,108.50. This trade represents a 4.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,274 shares of company stock valued at $5,242,686 in the last quarter. Company insiders own 19.54% of the company’s stock.

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.