Bigelow Investment Advisors LLC Has $1.04 Million Stock Position in Garmin Ltd. (NYSE:GRMN)

Bigelow Investment Advisors LLC decreased its holdings in Garmin Ltd. (NYSE:GRMN) by 1.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 8,050 shares of the scientific and technical instruments company’s stock after selling 121 shares during the period. Bigelow Investment Advisors LLC’s holdings in Garmin were worth $1,035,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GRMN. Avior Wealth Management LLC increased its holdings in shares of Garmin by 169.5% during the third quarter. Avior Wealth Management LLC now owns 283 shares of the scientific and technical instruments company’s stock worth $30,000 after buying an additional 178 shares in the last quarter. Clear Street Markets LLC raised its position in Garmin by 107.1% in the first quarter. Clear Street Markets LLC now owns 321 shares of the scientific and technical instruments company’s stock valued at $32,000 after purchasing an additional 166 shares during the last quarter. Headinvest LLC acquired a new stake in Garmin during the 3rd quarter worth approximately $41,000. Blue Trust Inc. grew its holdings in Garmin by 35.2% during the 4th quarter. Blue Trust Inc. now owns 380 shares of the scientific and technical instruments company’s stock worth $49,000 after acquiring an additional 99 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in Garmin in the 4th quarter valued at approximately $51,000. Institutional investors and hedge funds own 73.41% of the company’s stock.

Wall Street Analyst Weigh In

GRMN has been the subject of a number of analyst reports. Bank of America raised their price objective on Garmin from $120.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Tigress Financial reaffirmed a “strong-buy” rating and issued a $175.00 price objective (up from $165.00) on shares of Garmin in a research note on Tuesday, February 27th. Barrington Research lifted their target price on shares of Garmin from $119.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 22nd. StockNews.com raised shares of Garmin from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. lifted their target price on Garmin from $139.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Garmin has an average rating of “Hold” and an average target price of $142.33.

Insider Buying and Selling at Garmin

In related news, VP Susan Lyman sold 2,587 shares of Garmin stock in a transaction on Monday, February 26th. The shares were sold at an average price of $135.18, for a total value of $349,710.66. Following the transaction, the vice president now owns 7,174 shares in the company, valued at approximately $969,781.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Garmin news, Director Jonathan Burrell sold 15,000 shares of Garmin stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $148.89, for a total value of $2,233,350.00. Following the transaction, the director now directly owns 653,834 shares of the company’s stock, valued at approximately $97,349,344.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Susan Lyman sold 2,587 shares of Garmin stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $135.18, for a total value of $349,710.66. Following the completion of the transaction, the vice president now directly owns 7,174 shares in the company, valued at $969,781.32. The disclosure for this sale can be found here. Insiders have sold 99,476 shares of company stock worth $14,166,944 over the last ninety days. Insiders own 19.89% of the company’s stock.

Garmin Price Performance

NYSE:GRMN traded down $1.20 during trading hours on Friday, hitting $139.52. The stock had a trading volume of 2,891,481 shares, compared to its average volume of 950,269. The firm has a market capitalization of $26.76 billion, a price-to-earnings ratio of 20.96, a P/E/G ratio of 4.63 and a beta of 0.98. Garmin Ltd. has a one year low of $94.89 and a one year high of $149.54. The company has a 50 day simple moving average of $140.20 and a two-hundred day simple moving average of $126.02.

Garmin (NYSE:GRMN) last announced its earnings results on Wednesday, February 21st. The scientific and technical instruments company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.32. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.41 billion. Garmin had a net margin of 24.67% and a return on equity of 16.60%. Garmin’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.35 earnings per share. Equities research analysts anticipate that Garmin Ltd. will post 5.45 earnings per share for the current year.

Garmin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Friday, December 13th. Garmin’s dividend payout ratio is currently 43.52%.

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.