Garmin Ltd. (NYSE:GRMN) Shares Purchased by Corient Private Wealth LLC

Corient Private Wealth LLC boosted its holdings in Garmin Ltd. (NYSE:GRMN) by 5.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,222 shares of the scientific and technical instruments company’s stock after buying an additional 977 shares during the quarter. Corient Private Wealth LLC’s holdings in Garmin were worth $3,759,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Garmin by 192.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,551 shares of the scientific and technical instruments company’s stock valued at $1,351,000 after acquiring an additional 4,311 shares in the last quarter. Frank Rimerman Advisors LLC lifted its position in Garmin by 2.0% during the 4th quarter. Frank Rimerman Advisors LLC now owns 6,357 shares of the scientific and technical instruments company’s stock worth $1,311,000 after acquiring an additional 125 shares during the last quarter. Ironwood Investment Counsel LLC acquired a new position in Garmin during the 4th quarter worth $223,000. Madison Investment Advisors LLC acquired a new position in Garmin during the 4th quarter worth $904,000. Finally, Bowen Hanes & Co. Inc. lifted its position in Garmin by 1.7% during the 4th quarter. Bowen Hanes & Co. Inc. now owns 225,365 shares of the scientific and technical instruments company’s stock worth $46,484,000 after acquiring an additional 3,690 shares during the last quarter. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Garmin Stock Up 0.5 %

NYSE GRMN opened at $209.78 on Friday. The stock has a market cap of $40.36 billion, a P/E ratio of 28.70, a PEG ratio of 1.36 and a beta of 0.96. The company’s 50-day simple moving average is $216.96 and its 200 day simple moving average is $201.66. Garmin Ltd. has a twelve month low of $138.86 and a twelve 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 for the quarter, beating analysts’ consensus estimates of $1.90 by $0.51. The business had revenue of $1.82 billion for 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 firm’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.72 earnings per share. Research analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.60 dividend on an annualized basis and a yield of 1.72%. Garmin’s payout ratio is currently 41.04%.

Wall Street Analysts Forecast Growth

GRMN has been the subject of a number of research analyst reports. Barclays boosted their target price on shares of Garmin from $158.00 to $188.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. Tigress Financial boosted their price objective on shares of Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a report on Wednesday, February 26th. Morgan Stanley upgraded shares of Garmin to a “sell” rating and boosted their price objective for the stock from $164.00 to $171.00 in a report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Garmin from $219.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Three 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 company’s stock. According to data from MarketBeat, Garmin presently has an average rating of “Hold” and a consensus target price of $210.80.

Insider Activity at Garmin

In other Garmin news, VP Susan Lyman sold 2,829 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $215.51, for a total transaction of $609,677.79. Following the sale, the vice president now directly owns 8,432 shares of the company’s stock, valued at approximately $1,817,180.32. This represents a 25.12 % 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 link. Also, Director Matthew Munn sold 4,637 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $225.31, for a total transaction of $1,044,762.47. Following the sale, the director now directly owns 11,450 shares in the company, valued at $2,579,799.50. This represents a 28.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,342 shares of company stock valued at $5,486,094 over the last quarter. 19.54% of the stock is owned by company insiders.

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.