TD Waterhouse Canada Inc. Has $3.63 Million Position in Garmin Ltd. (NYSE:GRMN)

TD Waterhouse Canada Inc. raised its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 11.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 17,589 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,835 shares during the period. TD Waterhouse Canada Inc.’s holdings in Garmin were worth $3,629,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new position in Garmin during the fourth quarter worth about $26,000. Aster Capital Management DIFC Ltd raised its position in shares of Garmin by 864.3% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company’s stock valued at $28,000 after acquiring an additional 121 shares during the period. Pinnacle Bancorp Inc. bought a new position in Garmin during the 4th quarter worth approximately $29,000. SOA Wealth Advisors LLC. acquired a new position in Garmin during the fourth quarter valued at approximately $37,000. Finally, Kentucky Trust Co bought a new stake in Garmin in the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Analyst Upgrades and Downgrades

GRMN has been the topic of a number of recent analyst reports. Barclays lifted their price target 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. Morgan Stanley upgraded Garmin to a “sell” rating and lifted their target price for the stock from $164.00 to $171.00 in a report on Tuesday, February 11th. JPMorgan Chase & Co. lowered their price target on Garmin from $260.00 to $220.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. Finally, Tigress Financial lifted their price objective on Garmin from $265.00 to $285.00 and gave the company a “strong-buy” rating in a report on Wednesday, February 26th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Garmin has an average rating of “Hold” and an average price target of $202.80.

Garmin Price Performance

GRMN opened at $191.40 on Wednesday. The company has a market capitalization of $36.83 billion, a price-to-earnings ratio of 26.18, a P/E/G ratio of 1.36 and a beta of 0.92. The business’s 50-day moving average price is $208.18 and its two-hundred day moving average price is $205.03. Garmin Ltd. has a 1 year low of $140.46 and a 1 year high of $246.50.

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

Garmin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Friday, March 13th. Garmin’s dividend payout ratio (DPR) is 49.25%.

Insiders Place Their Bets

In other Garmin news, VP Susan Lyman sold 2,829 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $215.51, for a total value of $609,677.79. Following the transaction, the vice president now directly owns 8,432 shares in the company, valued at $1,817,180.32. The trade was a 25.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Clifton A. Pemble sold 7,202 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $227.14, for a total transaction of $1,635,862.28. Following the completion of the transaction, the chief executive officer now directly owns 149,525 shares in the company, 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 have sold 24,342 shares of company stock valued at $5,486,094. 19.54% of the stock is currently owned by corporate insiders.

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.