Keybank National Association OH Boosts Stock Holdings in Garmin Ltd. (NYSE:GRMN)

Keybank National Association OH boosted its stake in shares of Garmin Ltd. (NYSE:GRMN) by 27.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,859 shares of the scientific and technical instruments company’s stock after acquiring an additional 623 shares during the period. Keybank National Association OH’s holdings in Garmin were worth $590,000 at the end of the most recent quarter.

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

Insider Activity at Garmin

In related news, CFO Douglas G. Boessen sold 1,761 shares of Garmin stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $207.99, for a total transaction of $366,270.39. Following the completion of the sale, the chief financial officer now owns 27,612 shares in the company, valued at $5,743,019.88. This trade represents a 6.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Matthew Munn sold 4,637 shares of Garmin stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $225.31, for a total transaction of $1,044,762.47. Following the sale, the director now owns 11,450 shares of the company’s stock, valued at $2,579,799.50. The trade was a 28.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,274 shares of company stock worth $5,242,686 in the last 90 days. 19.54% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on GRMN shares. JPMorgan Chase & Co. lifted their price objective 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. Morgan Stanley raised shares of Garmin to a “sell” rating and lifted their price objective for the stock from $164.00 to $171.00 in a research note on Tuesday, February 11th. Barclays lifted their price objective on shares of Garmin from $158.00 to $188.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Finally, Tigress Financial lifted their price objective on shares of Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, February 26th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Garmin currently has an average rating of “Hold” and a consensus target price of $210.80.

Garmin Trading Down 1.1 %

GRMN stock 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 company has a 50-day moving average price of $216.28 and a 200 day moving average price of $199.50. 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 0.96.

Garmin (NYSE:GRMN) last released its quarterly earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.51. Garmin had a net margin of 22.42% and a return on equity of 19.31%. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the previous year, the company earned $1.72 EPS. The firm’s revenue for the quarter was up 22.9% compared to the same quarter last year. Sell-side analysts forecast that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be issued a dividend of $0.90 per share. The ex-dividend date is Friday, March 13th. This represents a $3.60 dividend on an annualized basis and a yield of 1.64%. Garmin’s payout ratio is 41.04%.

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.