Bryn Mawr Capital Management LLC Buys 9,643 Shares of Garmin Ltd. (NYSE:GRMN)

Bryn Mawr Capital Management LLC boosted its stake in shares of Garmin Ltd. (NYSE:GRMN) by 622.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,191 shares of the scientific and technical instruments company’s stock after buying an additional 9,643 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Garmin were worth $2,308,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in GRMN. State Street Corp lifted its holdings in shares of Garmin by 2.0% in the 3rd quarter. State Street Corp now owns 6,912,536 shares of the scientific and technical instruments company’s stock worth $1,216,819,000 after buying an additional 134,303 shares during the period. Geode Capital Management LLC raised its holdings in shares of Garmin by 2.7% in the third quarter. Geode Capital Management LLC now owns 4,363,464 shares of the scientific and technical instruments company’s stock valued at $765,912,000 after acquiring an additional 112,815 shares in the last quarter. FMR LLC lifted its stake in Garmin by 40.8% in the third quarter. FMR LLC now owns 3,775,154 shares of the scientific and technical instruments company’s stock worth $664,540,000 after acquiring an additional 1,093,219 shares during the period. Disciplined Growth Investors Inc. MN grew its holdings in Garmin by 3.6% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,401,004 shares of the scientific and technical instruments company’s stock worth $246,619,000 after acquiring an additional 48,645 shares in the last quarter. Finally, Captrust Financial Advisors increased its position in Garmin by 4.1% during the 3rd quarter. Captrust Financial Advisors now owns 767,729 shares of the scientific and technical instruments company’s stock valued at $135,143,000 after purchasing an additional 30,011 shares during the period. 81.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on GRMN shares. JPMorgan Chase & Co. lifted their price objective on shares of Garmin from $219.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday. Morgan Stanley upgraded Garmin to a “sell” rating and lifted their price target for the company from $164.00 to $171.00 in a report on Tuesday, February 11th. Barclays upped their price objective on Garmin from $158.00 to $188.00 and gave the stock an “underweight” rating in a research note on Thursday. Finally, Tigress Financial raised their price objective on Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a research report on Monday, December 16th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $195.67.

Insider Buying and Selling

In other news, CFO Douglas G. Boessen sold 1,761 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $207.99, for a total transaction of $366,270.39. Following the completion of the sale, the chief financial officer now owns 27,612 shares in the company, valued at $5,743,019.88. This trade represents a 6.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 19.54% of the stock is owned by company insiders.

Garmin Stock Down 5.5 %

Shares of NYSE GRMN opened at $228.61 on Friday. The company’s 50-day simple moving average is $212.99 and its 200-day simple moving average is $194.84. Garmin Ltd. has a 52-week low of $128.89 and a 52-week high of $246.50. The firm has a market cap of $43.90 billion, a price-to-earnings ratio of 29.01, a price-to-earnings-growth ratio of 1.28 and a beta of 0.98.

Garmin (NYSE:GRMN) last posted 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 firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.70 billion. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The firm’s revenue was up 22.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.72 EPS. Equities research analysts anticipate that Garmin Ltd. will post 7.09 EPS for the current fiscal year.

Garmin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors 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 1.57%. The ex-dividend date is Friday, March 13th. Garmin’s payout ratio is currently 38.07%.

Garmin Profile

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.