Commonwealth Equity Services LLC reduced its position in Garmin Ltd. (NYSE:GRMN – Free Report) by 0.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,681 shares of the scientific and technical instruments company’s stock after selling 99 shares during the period. Commonwealth Equity Services LLC’s holdings in Garmin were worth $2,692,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of GRMN. American Century Companies Inc. raised its holdings in shares of Garmin by 9.6% during the 1st quarter. American Century Companies Inc. now owns 9,116 shares of the scientific and technical instruments company’s stock valued at $1,081,000 after buying an additional 798 shares during the period. Private Advisor Group LLC lifted its position in shares of Garmin by 17.5% during the first quarter. Private Advisor Group LLC now owns 2,831 shares of the scientific and technical instruments company’s stock worth $336,000 after purchasing an additional 422 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Garmin by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,329 shares of the scientific and technical instruments company’s stock worth $2,411,000 after acquiring an additional 1,259 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Garmin by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,475,149 shares of the scientific and technical instruments company’s stock valued at $174,989,000 after acquiring an additional 11,011 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in Garmin by 378.8% during the first quarter. Sei Investments Co. now owns 37,785 shares of the scientific and technical instruments company’s stock worth $4,414,000 after purchasing an additional 29,893 shares during the last quarter. Hedge funds and other institutional investors own 63.26% of the company’s stock.
Garmin Trading Down 1.1 %
Shares of GRMN stock opened at $104.92 on Wednesday. The firm has a market capitalization of $20.07 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 3.67 and a beta of 0.91. The firm’s 50 day moving average is $105.04 and its 200-day moving average is $102.40. Garmin Ltd. has a 1 year low of $76.37 and a 1 year high of $108.56.
Garmin Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be paid a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 2.78%. The ex-dividend date is Thursday, March 14th. Garmin’s payout ratio is presently 56.48%.
Insider Buying and Selling at Garmin
In other Garmin news, CFO Douglas G. Boessen sold 15,653 shares of the business’s stock in a transaction dated 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 owns 23,843 shares of the company’s stock, valued at $2,514,721.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Cheng-Wei Wang sold 4,794 shares of Garmin stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $105.62, for a total value of $506,342.28. Following the completion of the sale, the insider now owns 44,808 shares of the company’s stock, valued at approximately $4,732,620.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Douglas G. Boessen sold 15,653 shares of the stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $105.47, for a total value of $1,650,921.91. Following the completion of the sale, the chief financial officer now directly owns 23,843 shares of the company’s stock, valued at $2,514,721.21. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,304 shares of company stock valued at $2,248,123. 19.89% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Several research analysts have recently commented on the stock. Tigress Financial reaffirmed a “strong-buy” rating and issued a $165.00 price target on shares of Garmin in a report on Thursday, August 10th. StockNews.com started coverage on Garmin in a research report on Wednesday, August 23rd. They issued a “hold” rating on the stock. Barclays upped their price target on shares of Garmin from $106.00 to $113.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 3rd. Bank of America boosted their price objective on Garmin from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 8th. Finally, Morgan Stanley decreased their target price on Garmin from $104.00 to $103.00 and set an “equal weight” rating for the company in a research note 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Garmin presently has an average rating of “Hold” and a consensus target price of $123.20.
Check Out Our Latest Analysis on GRMN
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.
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