1832 Asset Management L.P. Has $2.93 Million Stock Holdings in Garmin Ltd. (NYSE:GRMN)

1832 Asset Management L.P. lifted its stake in Garmin Ltd. (NYSE:GRMN) by 11.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 19,646 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,018 shares during the quarter. 1832 Asset Management L.P.’s holdings in Garmin were worth $2,925,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Dorsey & Whitney Trust CO LLC lifted its stake in Garmin by 3.3% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 2,309 shares of the scientific and technical instruments company’s stock valued at $344,000 after buying an additional 73 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of Garmin by 17.6% during the first quarter. Massmutual Trust Co. FSB ADV now owns 542 shares of the scientific and technical instruments company’s stock valued at $81,000 after acquiring an additional 81 shares during the period. 1620 Investment Advisors Inc. lifted its position in shares of Garmin by 4.0% in the 4th quarter. 1620 Investment Advisors Inc. now owns 2,168 shares of the scientific and technical instruments company’s stock valued at $279,000 after acquiring an additional 84 shares in the last quarter. Greenleaf Trust boosted its stake in Garmin by 2.5% in the 4th quarter. Greenleaf Trust now owns 3,518 shares of the scientific and technical instruments company’s stock worth $452,000 after purchasing an additional 87 shares during the period. Finally, Insight Folios Inc grew its position in Garmin by 3.5% during the 1st quarter. Insight Folios Inc now owns 2,768 shares of the scientific and technical instruments company’s stock worth $412,000 after purchasing an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 73.41% of the company’s stock.

Garmin Trading Up 2.6 %

NYSE GRMN traded up $4.54 on Friday, reaching $177.94. The stock had a trading volume of 1,059,479 shares, compared to its average volume of 673,682. Garmin Ltd. has a 1 year low of $99.61 and a 1 year high of $178.51. The business has a 50 day moving average price of $164.80 and a 200 day moving average price of $148.93. The company has a market capitalization of $34.18 billion, a price-to-earnings ratio of 25.10, a P/E/G ratio of 3.74 and a beta of 0.98.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, May 1st. The scientific and technical instruments company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.00 by $0.42. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Garmin had a return on equity of 17.26% and a net margin of 24.96%. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.02 EPS. On average, analysts anticipate that Garmin Ltd. will post 5.77 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.69%. Garmin’s dividend payout ratio is currently 42.31%.

Analyst Ratings Changes

GRMN has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on Garmin from $155.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Tigress Financial increased their price objective on Garmin from $175.00 to $210.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, May 14th. StockNews.com lowered Garmin from a “buy” rating to a “hold” rating in a research report on Friday. Bank of America downgraded Garmin from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $165.00 to $150.00 in a report on Wednesday, May 22nd. Finally, Barclays raised their price target on shares of Garmin from $140.00 to $166.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $156.83.

Insider Activity at Garmin

In other Garmin news, EVP Patrick Desbois sold 4,126 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $163.52, for a total transaction of $674,683.52. Following the completion of the transaction, the executive vice president now owns 58,412 shares in the company, valued at $9,551,530.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Garmin news, EVP Patrick Desbois sold 4,126 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $163.52, for a total value of $674,683.52. Following the completion of the transaction, the executive vice president now directly owns 58,412 shares of the company’s stock, valued at $9,551,530.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Douglas G. Boessen sold 2,350 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $161.63, for a total transaction of $379,830.50. Following the completion of the sale, the chief financial officer now directly owns 28,010 shares of the company’s stock, valued at approximately $4,527,256.30. The disclosure for this sale can be found here. 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.