Signaturefd LLC Has $1.07 Million Holdings in Garmin Ltd. (NYSE:GRMN)

Signaturefd LLC trimmed its position in shares of Garmin Ltd. (NYSE:GRMN) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,163 shares of the scientific and technical instruments company’s stock after selling 92 shares during the period. Signaturefd LLC’s holdings in Garmin were worth $1,065,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of GRMN. OneDigital Investment Advisors LLC grew its stake in Garmin by 11.0% during the third quarter. OneDigital Investment Advisors LLC now owns 7,318 shares of the scientific and technical instruments company’s stock worth $1,288,000 after buying an additional 725 shares in the last quarter. CIBC Asset Management Inc grew its stake in Garmin by 9.8% during the third quarter. CIBC Asset Management Inc now owns 17,998 shares of the scientific and technical instruments company’s stock worth $3,168,000 after buying an additional 1,607 shares in the last quarter. Claro Advisors LLC acquired a new stake in Garmin during the third quarter worth about $242,000. Swiss National Bank grew its stake in Garmin by 0.4% during the third quarter. Swiss National Bank now owns 456,000 shares of the scientific and technical instruments company’s stock worth $80,270,000 after buying an additional 1,700 shares in the last quarter. Finally, Prospera Financial Services Inc grew its stake in Garmin by 5.5% during the third quarter. Prospera Financial Services Inc now owns 5,290 shares of the scientific and technical instruments company’s stock worth $932,000 after buying an additional 276 shares in the last quarter. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Garmin Trading Down 2.8 %

GRMN stock opened at $206.47 on Wednesday. The firm has a 50-day moving average price of $217.05 and a 200-day moving average price of $201.23. The stock has a market capitalization of $39.73 billion, a P/E ratio of 28.25, a price-to-earnings-growth ratio of 1.36 and a beta of 0.96. Garmin Ltd. has a 12 month low of $138.86 and a 12 month high of $246.50.

Garmin (NYSE:GRMN) last issued its quarterly earnings data 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. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.70 billion. Garmin had a net margin of 22.42% and a return on equity of 19.31%. The firm’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter last year, the business earned $1.72 EPS. As a group, equities analysts predict that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 1.74%. Garmin’s dividend payout ratio (DPR) is presently 41.04%.

Insider Activity at Garmin

In other Garmin news, VP Susan Lyman sold 2,829 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $215.51, for a total transaction of $609,677.79. Following the completion of the transaction, the vice president now owns 8,432 shares in the company, valued at approximately $1,817,180.32. This trade represents a 25.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Clifton A. Pemble sold 7,202 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 149,525 shares of the company’s stock, valued at approximately $33,963,108.50. The trade was a 4.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,103 shares of company stock worth $5,852,364 in the last quarter. 19.54% of the stock is owned by insiders.

Analysts Set New Price Targets

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

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.