Brown Advisory Inc. decreased its stake in shares of Garmin Ltd. (NYSE:GRMN – Free Report) by 1.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,669 shares of the scientific and technical instruments company’s stock after selling 236 shares during the period. Brown Advisory Inc.’s holdings in Garmin were worth $2,288,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of GRMN. Private Trust Co. NA grew its stake in Garmin by 84.6% during the first quarter. Private Trust Co. NA now owns 288 shares of the scientific and technical instruments company’s stock worth $29,000 after buying an additional 132 shares during the period. U.S. Capital Wealth Advisors LLC purchased a new position in shares of Garmin in the fourth quarter valued at $27,000. Carmel Capital Partners LLC purchased a new position in shares of Garmin in the first quarter valued at $30,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of Garmin by 107.1% in the first quarter. Massmutual Trust Co. FSB ADV now owns 352 shares of the scientific and technical instruments company’s stock valued at $36,000 after purchasing an additional 182 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Garmin by 754.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 410 shares of the scientific and technical instruments company’s stock valued at $38,000 after purchasing an additional 362 shares during the period. Institutional investors and hedge funds own 52.63% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the stock. VNET Group reaffirmed a “maintains” rating on shares of Garmin in a report on Thursday, May 4th. KeyCorp assumed coverage on shares of Garmin in a report on Tuesday, April 18th. They issued a “sector weight” rating on the stock. StockNews.com assumed coverage on shares of Garmin in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Morgan Stanley cut their price target on shares of Garmin from $104.00 to $103.00 and set an “equal weight” rating on the stock in a report on Thursday, August 3rd. Finally, Barclays increased their target price on shares of Garmin from $106.00 to $113.00 and gave the stock an “equal weight” rating in a report on Thursday, August 3rd. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $123.20.
Garmin Stock Up 0.5 %
Shares of NYSE:GRMN opened at $104.02 on Tuesday. The company has a market cap of $19.90 billion, a PE ratio of 20.12, a P/E/G ratio of 3.58 and a beta of 0.92. The company’s 50-day moving average price is $105.45 and its 200 day moving average price is $101.66. Garmin Ltd. has a fifty-two week low of $76.37 and a fifty-two week high of $108.56.
Garmin (NYSE:GRMN – Get Free Report) last issued its quarterly earnings data on Wednesday, August 2nd. The scientific and technical instruments company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.02. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.26 billion. Garmin had a net margin of 20.23% and a return on equity of 15.81%. Garmin’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the firm posted $1.44 EPS. As a group, equities analysts anticipate that Garmin Ltd. will post 5.16 EPS for the current year.
Garmin Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be paid a $0.73 dividend. The ex-dividend date is Thursday, March 14th. This represents a $2.92 annualized dividend and a dividend yield of 2.81%. Garmin’s dividend payout ratio is currently 56.48%.
Insider Transactions at Garmin
In other news, CFO Douglas G. Boessen sold 15,653 shares of Garmin stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $105.47, for a total value of $1,650,921.91. Following the transaction, the chief financial officer now owns 23,843 shares of the company’s stock, valued at approximately $2,514,721.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Sean Biddlecombe sold 857 shares of Garmin stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $106.02, for a total value of $90,859.14. Following the transaction, the director now directly owns 4,834 shares of the company’s stock, valued at $512,500.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Douglas G. Boessen sold 15,653 shares of Garmin stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $105.47, for a total transaction of $1,650,921.91. Following the completion of the transaction, the chief financial officer now directly owns 23,843 shares in the company, valued at $2,514,721.21. The disclosure for this sale can be found here. Corporate insiders own 19.89% of the company’s stock.
Garmin Profile
Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices in the Americas, the Asia Pacific, Australian Continent, Europe, the Middle East, and Africa. Its Fitness segment offers running and multi-sport watches; cycling products; activity tracking and smartwatch devices; fitness and cycling accessories.
Featured Articles
- Five stocks we like better than Garmin
- What Percentage Gainers Tell Investors and Why They Don’t Tell the Whole Story
- 3 Sizzling Dividends That Are Going On Sale
- Which Wall Street Analysts are the Most Accurate?
- 3 Ways To Trade, Trade Desk Stock Post Earnings
- How to Use the MarketBeat Stock Split Calculator
- Inflation, The Fed, and Oil Prices: Interest Rates Are Going Up
Want to see what other hedge funds are holding GRMN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Garmin Ltd. (NYSE:GRMN – Free Report).
Receive News & Ratings for Garmin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Garmin and related companies with MarketBeat.com's FREE daily email newsletter.
