Garmin Ltd. (NYSE:GRMN) Stock Holdings Lifted by Cibc World Markets Corp

Cibc World Markets Corp lifted its position in Garmin Ltd. (NYSE:GRMN) by 15.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 24,224 shares of the scientific and technical instruments company’s stock after buying an additional 3,325 shares during the quarter. Cibc World Markets Corp’s holdings in Garmin were worth $4,996,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in shares of Garmin in the fourth quarter worth approximately $26,000. Pinnacle Bancorp Inc. purchased a new position in Garmin during the fourth quarter valued at approximately $29,000. SOA Wealth Advisors LLC. purchased a new position in Garmin during the fourth quarter valued at approximately $37,000. Larson Financial Group LLC grew its position in 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 valued at $33,000 after purchasing an additional 162 shares in the last quarter. Finally, Kentucky Trust Co purchased a new position in Garmin during the fourth quarter valued at approximately $41,000. 81.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GRMN. JPMorgan Chase & Co. boosted their price objective on shares of Garmin from $219.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. 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. Tigress Financial boosted their price objective on shares of Garmin from $265.00 to $285.00 and gave the company a “strong-buy” rating in a research report on Wednesday, February 26th. Finally, Barclays boosted their price objective on shares of Garmin from $158.00 to $188.00 and gave the company an “underweight” rating in a research report on Thursday, February 20th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Garmin has an average rating of “Hold” and an average target price of $210.80.

Insider Transactions at Garmin

In other news, CFO Douglas G. Boessen sold 1,761 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $207.99, for a total value of $366,270.39. Following the completion of the sale, the chief financial officer now directly owns 27,612 shares in the company, valued at approximately $5,743,019.88. The trade was a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Clifton A. Pemble sold 7,202 shares of the business’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 owns 149,525 shares of the company’s stock, valued at $33,963,108.50. The trade was a 4.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,103 shares of company stock worth $5,852,364. 19.54% of the stock is owned by insiders.

Garmin Stock Up 1.1 %

NYSE GRMN opened at $208.90 on Thursday. The stock has a market capitalization of $40.19 billion, a PE ratio of 28.58, a price-to-earnings-growth ratio of 1.36 and a beta of 0.96. The company has a 50 day moving average price of $217.00 and a two-hundred day moving average price of $201.28. Garmin Ltd. has a 12-month low of $138.86 and a 12-month high of $246.50.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share (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 analysts’ expectations of $1.70 billion. Garmin had a net margin of 22.42% and a return on equity of 19.31%. The company’s revenue was up 22.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.72 earnings per share. As a group, equities analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Friday, March 13th. Garmin’s payout ratio 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.