DekaBank Deutsche Girozentrale Buys 13,754 Shares of Garmin Ltd. (NYSE:GRMN)

DekaBank Deutsche Girozentrale boosted its position in Garmin Ltd. (NYSE:GRMN) by 4.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 305,672 shares of the scientific and technical instruments company’s stock after buying an additional 13,754 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.16% of Garmin worth $45,405,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of GRMN. Peterson Wealth Services bought a new stake in Garmin in the 4th quarter valued at $2,365,000. International Assets Investment Management LLC bought a new position in Garmin during the 4th quarter worth $8,691,000. Natixis Advisors L.P. boosted its holdings in shares of Garmin by 30.0% during the 4th quarter. Natixis Advisors L.P. now owns 30,041 shares of the scientific and technical instruments company’s stock worth $3,861,000 after buying an additional 6,939 shares in the last quarter. SteelPeak Wealth LLC increased its holdings in shares of Garmin by 369.6% during the fourth quarter. SteelPeak Wealth LLC now owns 14,087 shares of the scientific and technical instruments company’s stock valued at $1,811,000 after acquiring an additional 11,087 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Garmin in the first quarter worth approximately $1,389,000. Institutional investors own 73.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GRMN shares. Tigress Financial lifted their price objective on shares of Garmin from $175.00 to $210.00 and gave the company a “strong-buy” rating in a research note on Tuesday, May 14th. Bank of America cut shares of Garmin from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $165.00 to $150.00 in a research note on Wednesday, May 22nd. JPMorgan Chase & Co. raised their price target on shares of Garmin from $155.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Barclays boosted their target price on Garmin from $140.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Finally, StockNews.com upgraded shares of Garmin from a “hold” rating to a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Garmin has a consensus rating of “Hold” and a consensus target price of $156.83.

Garmin Trading Down 1.5 %

GRMN traded down $2.54 on Friday, hitting $168.52. 943,885 shares of the company’s stock traded hands, compared to its average volume of 822,842. The firm has a market cap of $32.39 billion, a price-to-earnings ratio of 23.77, a P/E/G ratio of 3.55 and a beta of 0.98. The company’s 50 day simple moving average is $165.54 and its 200-day simple moving average is $150.67. Garmin Ltd. has a one year low of $99.61 and a one year high of $179.76.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.18. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.42 billion. Garmin had a return on equity of 17.09% and a net margin of 24.36%. The business’s revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.45 EPS. As a group, equities analysts anticipate that Garmin Ltd. will post 6 EPS for the current fiscal year.

Garmin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a yield of 1.78%. Garmin’s dividend payout ratio is currently 42.31%.

Insider Transactions at Garmin

In related news, EVP Patrick Desbois sold 4,126 shares of the company’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 approximately $9,551,530.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Garmin news, CFO Douglas G. Boessen sold 2,350 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $161.63, for a total value of $379,830.50. Following the transaction, the chief financial officer now directly owns 28,010 shares in the company, valued at approximately $4,527,256.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Patrick Desbois sold 4,126 shares of Garmin stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $163.52, for a total transaction of $674,683.52. Following the sale, the executive vice president now directly owns 58,412 shares in the company, valued at approximately $9,551,530.24. The disclosure for this sale can be found here. Company insiders own 19.54% of the company’s stock.

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.