Meeder Asset Management Inc. Has $1.46 Million Position in Garmin Ltd. (NYSE:GRMN)

Meeder Asset Management Inc. trimmed its position in Garmin Ltd. (NYSE:GRMN) by 15.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,079 shares of the scientific and technical instruments company’s stock after selling 1,296 shares during the quarter. Meeder Asset Management Inc.’s holdings in Garmin were worth $1,460,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of Garmin by 10.0% in the fourth quarter. Wellington Management Group LLP now owns 18,281 shares of the scientific and technical instruments company’s stock valued at $3,771,000 after acquiring an additional 1,669 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in shares of Garmin by 30.6% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 10,286 shares of the scientific and technical instruments company’s stock worth $2,122,000 after purchasing an additional 2,413 shares in the last quarter. Bcwm LLC acquired a new position in shares of Garmin during the 4th quarter worth approximately $7,189,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Garmin by 229.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 24,203 shares of the scientific and technical instruments company’s stock worth $4,992,000 after purchasing an additional 16,850 shares during the period. Finally, Allianz SE acquired a new stake in shares of Garmin in the fourth quarter valued at approximately $172,000. Institutional investors own 81.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on GRMN. Barclays increased their price target on Garmin from $158.00 to $188.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. increased their target price on Garmin from $219.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Tigress Financial raised their price target on Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, February 26th. Finally, Morgan Stanley raised shares of Garmin to a “sell” rating and upped their price objective for the stock from $164.00 to $171.00 in a research report on Tuesday, February 11th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $210.80.

Insider Buying and Selling at Garmin

In other Garmin news, VP Susan Lyman sold 2,829 shares of the business’s stock in a transaction that occurred on 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 $1,817,180.32. The trade was a 25.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Patrick Desbois sold 6,911 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were 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 of the company’s stock, valued at approximately $14,321,353.20. This trade represents a 9.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,342 shares of company stock worth $5,486,094 over the last quarter. Corporate insiders own 19.54% of the company’s stock.

Garmin Stock Performance

Shares of GRMN stock opened at $213.59 on Monday. Garmin Ltd. has a fifty-two week low of $138.86 and a fifty-two week high of $246.50. The stock’s fifty day moving average price is $217.31 and its two-hundred day moving average price is $203.03. The company has a market cap of $41.10 billion, a PE ratio of 29.22, a P/E/G ratio of 1.36 and a beta of 0.96.

Garmin (NYSE:GRMN) last released its quarterly earnings data on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.51. Garmin had a return on equity of 19.31% and a net margin of 22.42%. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period last year, the firm posted $1.72 earnings per share. Garmin’s revenue was up 22.9% compared to the same quarter last year. On average, equities analysts predict that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Announces Dividend

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 given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Friday, March 13th. Garmin’s dividend payout ratio is 49.25%.

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.