Garmin Ltd. (NYSE:GRMN) Shares Sold by Twin Tree Management LP

Twin Tree Management LP cut its stake in Garmin Ltd. (NYSE:GRMN) by 40.6% in the fourth quarter, HoldingsChannel reports. The firm owned 39,937 shares of the scientific and technical instruments company’s stock after selling 27,351 shares during the quarter. Twin Tree Management LP’s holdings in Garmin were worth $8,237,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Geneos Wealth Management Inc. grew its holdings in shares of Garmin by 1.7% during the fourth quarter. Geneos Wealth Management Inc. now owns 2,863 shares of the scientific and technical instruments company’s stock worth $591,000 after buying an additional 49 shares during the last quarter. Curbstone Financial Management Corp raised its stake in shares of Garmin by 1.3% during the fourth quarter. Curbstone Financial Management Corp now owns 3,886 shares of the scientific and technical instruments company’s stock worth $802,000 after purchasing an additional 50 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Garmin by 26.8% during the fourth quarter. Larson Financial Group LLC now owns 241 shares of the scientific and technical instruments company’s stock worth $50,000 after purchasing an additional 51 shares during the period. Addison Advisors LLC grew its position in Garmin by 11.1% in the 4th quarter. Addison Advisors LLC now owns 522 shares of the scientific and technical instruments company’s stock valued at $108,000 after buying an additional 52 shares during the last quarter. Finally, HB Wealth Management LLC increased its stake in Garmin by 1.4% in the 4th quarter. HB Wealth Management LLC now owns 3,821 shares of the scientific and technical instruments company’s stock valued at $788,000 after buying an additional 53 shares during the period. 81.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GRMN has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price target on shares of Garmin from $219.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Morgan Stanley upgraded Garmin to a “sell” rating and lifted their price target for the company from $164.00 to $171.00 in a research note on Tuesday, February 11th. Barclays increased their price objective on Garmin from $158.00 to $188.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. Finally, Tigress Financial boosted their target price on shares of Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, February 26th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Garmin has a consensus rating of “Hold” and a consensus price target of $210.80.

Insiders Place Their Bets

In other Garmin news, COO Patrick Desbois sold 6,911 shares of the firm’s stock in a transaction 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 directly owns 63,048 shares of the company’s stock, valued at $14,321,353.20. This trade represents a 9.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Clifton A. Pemble sold 7,202 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $227.14, for a total transaction of $1,635,862.28. Following the completion of the sale, the chief executive officer now directly owns 149,525 shares of the company’s stock, valued at $33,963,108.50. The trade was a 4.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,103 shares of company stock worth $5,852,364 in the last quarter. 19.54% of the stock is owned by corporate insiders.

Garmin Stock Performance

Shares of NYSE:GRMN opened at $212.43 on Tuesday. The stock has a market capitalization of $40.87 billion, a P/E ratio of 29.06, a PEG ratio of 1.36 and a beta of 0.96. Garmin Ltd. has a 1 year low of $138.86 and a 1 year high of $246.50. The stock has a 50-day simple moving average of $217.09 and a 200-day simple moving average of $201.06.

Garmin (NYSE:GRMN) last released its quarterly earnings data on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 EPS 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 company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period last year, the company posted $1.72 earnings per share. The firm’s revenue was up 22.9% compared to the same quarter last year. Analysts predict that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Friday, March 13th. Garmin’s dividend payout ratio (DPR) is 41.04%.

Garmin Company 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.