Addison Advisors LLC Grows Position in Garmin Ltd. (NYSE:GRMN)

Addison Advisors LLC raised its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 11.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 522 shares of the scientific and technical instruments company’s stock after purchasing an additional 52 shares during the period. Addison Advisors LLC’s holdings in Garmin were worth $108,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. BankPlus Trust Department bought a new position in shares of Garmin in the 4th quarter worth $1,550,000. Y Intercept Hong Kong Ltd boosted its position in Garmin by 37.9% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 3,779 shares of the scientific and technical instruments company’s stock valued at $779,000 after purchasing an additional 1,039 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in Garmin by 8.5% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 42,101 shares of the scientific and technical instruments company’s stock valued at $8,684,000 after purchasing an additional 3,300 shares during the last quarter. Howard Capital Management Inc. bought a new position in Garmin in the fourth quarter worth about $226,000. Finally, TCW Group Inc. lifted its position in shares of Garmin by 5.9% during the fourth quarter. TCW Group Inc. now owns 50,906 shares of the scientific and technical instruments company’s stock valued at $10,500,000 after buying an additional 2,828 shares during the last quarter. Institutional investors own 81.60% of the company’s stock.

Garmin Trading Up 1.5 %

NYSE GRMN opened at $226.14 on Wednesday. The stock has a market cap of $43.51 billion, a P/E ratio of 30.94, a P/E/G ratio of 1.36 and a beta of 0.98. Garmin Ltd. has a 12-month low of $133.16 and a 12-month high of $246.50. The company has a fifty day simple moving average of $213.89 and a two-hundred day simple moving average of $196.76.

Garmin (NYSE:GRMN) last issued 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. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Garmin had a return on equity of 19.31% and a net margin of 22.42%. The firm’s revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.72 EPS. As a group, sell-side analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be issued a $0.90 dividend. The ex-dividend date is Friday, March 13th. This represents a $3.60 annualized dividend and a yield of 1.59%. Garmin’s dividend payout ratio (DPR) is presently 41.04%.

Analyst Ratings Changes

GRMN has been the topic of a number of analyst reports. 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 report on Thursday, February 20th. Tigress Financial upped their price target on Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research report on Monday, December 16th. Morgan Stanley raised Garmin to a “sell” rating and raised their price objective for the stock from $164.00 to $171.00 in a research report on Tuesday, February 11th. Finally, Barclays upped their target price on Garmin from $158.00 to $188.00 and gave the company an “underweight” rating in a research report on Thursday, February 20th. Three investment 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $206.80.

Insiders Place Their Bets

In other news, CFO Douglas G. Boessen sold 1,761 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $207.99, for a total value of $366,270.39. Following the completion of the transaction, the chief financial officer now owns 27,612 shares of the company’s stock, valued at $5,743,019.88. The trade was a 6.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 19.54% of the stock is currently owned by 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.