Tocqueville Asset Management L.P. Purchases Shares of 1,080 Garmin Ltd. (NYSE:GRMN)

Tocqueville Asset Management L.P. purchased a new stake in shares of Garmin Ltd. (NYSE:GRMN) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,080 shares of the scientific and technical instruments company’s stock, valued at approximately $223,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Parallel Advisors LLC grew its position in Garmin by 2.6% during the fourth quarter. Parallel Advisors LLC now owns 5,078 shares of the scientific and technical instruments company’s stock valued at $1,047,000 after acquiring an additional 128 shares during the last quarter. Cibc World Markets Corp grew its holdings in shares of Garmin by 15.9% in the fourth quarter. Cibc World Markets Corp now owns 24,224 shares of the scientific and technical instruments company’s stock worth $4,996,000 after purchasing an additional 3,325 shares during the last quarter. Corient Private Wealth LLC grew its holdings in shares of Garmin by 5.7% in the fourth quarter. Corient Private Wealth LLC now owns 18,222 shares of the scientific and technical instruments company’s stock worth $3,759,000 after purchasing an additional 977 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Garmin by 192.5% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 6,551 shares of the scientific and technical instruments company’s stock worth $1,351,000 after purchasing an additional 4,311 shares during the last quarter. Finally, Frank Rimerman Advisors LLC grew its holdings in shares of Garmin by 2.0% in the fourth quarter. Frank Rimerman Advisors LLC now owns 6,357 shares of the scientific and technical instruments company’s stock worth $1,311,000 after purchasing an additional 125 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors.

Garmin Stock Down 0.1 %

Shares of GRMN stock opened at $208.50 on Friday. The stock has a fifty day moving average of $216.95 and a 200 day moving average of $201.33. Garmin Ltd. has a 52 week low of $138.86 and a 52 week high of $246.50. The firm has a market capitalization of $40.12 billion, a price-to-earnings ratio of 28.52, a PEG ratio of 1.36 and a beta of 0.96.

Garmin (NYSE:GRMN) last announced 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. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.70 billion. Garmin had a return on equity of 19.31% and a net margin of 22.42%. The company’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.72 earnings per share. Equities research analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.73%. The ex-dividend date is Friday, March 13th. Garmin’s dividend payout ratio is currently 41.04%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on GRMN shares. Barclays raised their target price on shares of Garmin from $158.00 to $188.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Tigress Financial raised 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. JPMorgan Chase & Co. raised 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. Finally, Morgan Stanley raised Garmin to a “sell” rating and raised their price target for the stock from $164.00 to $171.00 in a research note on Tuesday, February 11th. Three investment 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $210.80.

Insider Buying and Selling at Garmin

In other news, VP Susan Lyman sold 2,829 shares of Garmin stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $215.51, for a total value of $609,677.79. Following the completion of the transaction, the vice president now owns 8,432 shares of the company’s stock, valued at $1,817,180.32. The trade was a 25.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Clifton A. Pemble sold 7,202 shares of Garmin stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $227.14, for a total value of $1,635,862.28. Following the completion of the transaction, the chief executive officer now directly owns 149,525 shares of the company’s stock, valued at approximately $33,963,108.50. This represents a 4.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,342 shares of company stock valued at $5,486,094. 19.54% of the stock is currently owned by company insiders.

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.