Beverly Hills Private Wealth LLC Purchases New Shares in Garmin Ltd. (NYSE:GRMN)

Beverly Hills Private Wealth LLC purchased a new stake in shares of Garmin Ltd. (NYSE:GRMN) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,859 shares of the scientific and technical instruments company’s stock, valued at approximately $239,000.

Several other hedge funds also recently made changes to their positions in the company. PCG Wealth Advisors LLC bought a new stake in Garmin in the fourth quarter worth $230,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Garmin by 0.3% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 560,985 shares of the scientific and technical instruments company’s stock worth $72,109,000 after acquiring an additional 1,468 shares in the last quarter. Lecap Asset Management Ltd. bought a new stake in Garmin in the fourth quarter worth $1,062,000. Mn Services Vermogensbeheer B.V. raised its stake in shares of Garmin by 0.4% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 73,227 shares of the scientific and technical instruments company’s stock worth $9,413,000 after purchasing an additional 300 shares during the last quarter. Finally, Outlook Wealth Advisors LLC purchased a new position in shares of Garmin in the fourth quarter worth $242,000. 73.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Garmin

In other Garmin news, VP Susan Lyman sold 2,587 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was 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 owns 7,174 shares of the company’s stock, valued at $969,781.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Susan Lyman sold 2,587 shares of the company’s stock in a transaction dated 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 owns 7,174 shares of the company’s stock, valued at $969,781.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Clifton A. Pemble sold 1,622 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $134.19, for a total value of $217,656.18. Following the completion of the transaction, the chief executive officer now directly owns 159,319 shares of the company’s stock, valued at approximately $21,379,016.61. The disclosure for this sale can be found here. Over the last quarter, insiders 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

Several research firms have recently weighed in on GRMN. Bank of America boosted their price target on Garmin from $120.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Tigress Financial restated a “strong-buy” rating and issued a $175.00 price target (up previously from $165.00) on shares of Garmin in a research note on Tuesday, February 27th. Barrington Research boosted their price target on Garmin from $119.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 22nd. JPMorgan Chase & Co. upped their price objective on Garmin from $139.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Finally, StockNews.com upgraded Garmin from a “hold” rating to a “buy” rating in a research report on Thursday, April 11th. Six 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $142.33.

Garmin Stock Performance

NYSE:GRMN opened at $142.10 on Wednesday. The stock has a 50-day simple moving average of $139.45 and a two-hundred day simple moving average of $125.81. Garmin Ltd. has a 52-week low of $94.89 and a 52-week high of $149.54. The firm has a market capitalization of $27.25 billion, a PE ratio of 21.18, a P/E/G ratio of 4.65 and a beta of 0.98.

Garmin (NYSE:GRMN) last released its quarterly 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. Garmin had a return on equity of 16.60% and a net margin of 24.67%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the previous year, the company posted $1.35 earnings per share. Garmin’s revenue for the quarter was up 13.3% on a year-over-year basis. Equities analysts forecast that Garmin Ltd. will post 5.45 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.11%. The ex-dividend date is Friday, December 13th. Garmin’s dividend payout ratio is presently 43.52%.

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.