Schnieders Capital Management LLC Purchases Shares of 1,026 Garmin Ltd. (NYSE:GRMN)

Schnieders Capital Management LLC purchased a new stake in shares of Garmin Ltd. (NYSE:GRMN) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,026 shares of the scientific and technical instruments company’s stock, valued at approximately $212,000.

Several other hedge funds have also added to or reduced their stakes in GRMN. Private Advisor Group LLC lifted its holdings in shares of Garmin by 2.0% during the third quarter. Private Advisor Group LLC now owns 4,314 shares of the scientific and technical instruments company’s stock worth $759,000 after buying an additional 83 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Garmin during the third quarter worth $13,448,000. Assenagon Asset Management S.A. lifted its holdings in shares of Garmin by 16.3% during the third quarter. Assenagon Asset Management S.A. now owns 16,794 shares of the scientific and technical instruments company’s stock worth $2,956,000 after buying an additional 2,349 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Garmin by 34.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,935 shares of the scientific and technical instruments company’s stock worth $1,729,000 after buying an additional 2,547 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Garmin by 96.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 23,021 shares of the scientific and technical instruments company’s stock worth $4,052,000 after buying an additional 11,295 shares in the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on GRMN shares. Morgan Stanley raised 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. raised their price target on Garmin from $219.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Barclays raised their price target 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 raised their price target on Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a research report on Wednesday. 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $210.80.

Garmin Stock Performance

Shares of NYSE GRMN opened at $226.39 on Thursday. Garmin Ltd. has a 52 week low of $134.01 and a 52 week high of $246.50. The stock has a market capitalization of $43.56 billion, a P/E ratio of 30.97, a PEG ratio of 1.36 and a beta of 0.98. The stock’s fifty day moving average is $214.29 and its 200 day moving average is $196.97.

Garmin (NYSE:GRMN) last released its earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.51. Garmin had a return on equity of 19.31% and a net margin of 22.42%. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter in the previous year, the business posted $1.72 earnings per share. The business’s revenue for the quarter was up 22.9% on a year-over-year basis. Equities research analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Friday, March 13th. Garmin’s dividend payout ratio is presently 41.04%.

Insider Buying and Selling at Garmin

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 transaction of $366,270.39. Following the sale, the chief financial officer now directly owns 27,612 shares in the company, valued at approximately $5,743,019.88. The trade was a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.