Garmin Ltd. (NYSE:GRMN) Shares Bought by Outlook Wealth Advisors LLC

Outlook Wealth Advisors LLC increased its holdings in Garmin Ltd. (NYSE:GRMN) by 25.9% during the 1st quarter, HoldingsChannel reports. The fund owned 2,366 shares of the scientific and technical instruments company’s stock after acquiring an additional 487 shares during the quarter. Outlook Wealth Advisors LLC’s holdings in Garmin were worth $352,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GRMN. Massmutual Trust Co. FSB ADV raised its holdings in Garmin by 17.6% in the first quarter. Massmutual Trust Co. FSB ADV now owns 542 shares of the scientific and technical instruments company’s stock valued at $81,000 after acquiring an additional 81 shares in the last quarter. 1620 Investment Advisors Inc. raised its stake in shares of Garmin by 4.0% in the 4th quarter. 1620 Investment Advisors Inc. now owns 2,168 shares of the scientific and technical instruments company’s stock valued at $279,000 after purchasing an additional 84 shares in the last quarter. Greenleaf Trust lifted its position in shares of Garmin by 2.5% during the fourth quarter. Greenleaf Trust now owns 3,518 shares of the scientific and technical instruments company’s stock worth $452,000 after purchasing an additional 87 shares during the last quarter. Insight Folios Inc lifted its position in shares of Garmin by 3.5% during the first quarter. Insight Folios Inc now owns 2,768 shares of the scientific and technical instruments company’s stock worth $412,000 after purchasing an additional 93 shares during the last quarter. Finally, First Trust Direct Indexing L.P. grew its stake in Garmin by 1.4% in the fourth quarter. First Trust Direct Indexing L.P. now owns 7,189 shares of the scientific and technical instruments company’s stock worth $924,000 after purchasing an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 73.41% of the company’s stock.

Insider Activity

In other Garmin news, VP Susan Lyman sold 2,587 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $135.18, for a total transaction of $349,710.66. Following the sale, the vice president now directly owns 7,174 shares in the company, valued at approximately $969,781.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Jonathan Burrell sold 15,000 shares of Garmin stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $146.15, for a total transaction of $2,192,250.00. Following the transaction, the director now directly owns 623,834 shares of the company’s stock, valued at $91,173,339.10. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Susan Lyman sold 2,587 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $135.18, for a total transaction of $349,710.66. Following the completion of the sale, the vice president now directly owns 7,174 shares of the company’s stock, valued at $969,781.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 99,476 shares of company stock valued at $14,166,944. Company insiders own 19.89% of the company’s stock.

Wall Street Analyst Weigh In

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

Garmin Stock Performance

Shares of Garmin stock traded up $0.42 during trading on Friday, hitting $143.45. 625,349 shares of the stock were exchanged, compared to its average volume of 770,905. The stock has a market cap of $27.55 billion, a PE ratio of 21.38, a P/E/G ratio of 4.69 and a beta of 0.98. The stock’s fifty day moving average is $142.51 and its 200 day moving average is $127.57. Garmin Ltd. has a 12 month low of $95.40 and a 12 month high of $149.54.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, February 21st. The scientific and technical instruments company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.40 by $0.32. The company had revenue of $1.48 billion for 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 was up 13.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.35 earnings per share. Sell-side analysts anticipate that Garmin Ltd. will post 5.45 EPS for the current fiscal year.

Garmin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Friday, December 13th. Garmin’s dividend payout ratio (DPR) is 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.