Garmin Ltd. (NYSE:GRMN) Shares Bought by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC lifted its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 8.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,723 shares of the scientific and technical instruments company’s stock after acquiring an additional 685 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Garmin were worth $1,799,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in GRMN. Passumpsic Savings Bank purchased a new stake in shares of Garmin in the third quarter worth about $3,137,000. Diversified Trust Co acquired a new stake in Garmin in the fourth quarter valued at approximately $734,000. Montrusco Bolton Investments Inc. raised its stake in shares of Garmin by 42.5% during the fourth quarter. Montrusco Bolton Investments Inc. now owns 431,188 shares of the scientific and technical instruments company’s stock valued at $88,937,000 after purchasing an additional 128,672 shares during the period. Baskin Financial Services Inc. lifted its position in shares of Garmin by 3.2% during the fourth quarter. Baskin Financial Services Inc. now owns 148,957 shares of the scientific and technical instruments company’s stock worth $30,724,000 after purchasing an additional 4,616 shares in the last quarter. Finally, Savant Capital LLC boosted its stake in shares of Garmin by 47.2% in the fourth quarter. Savant Capital LLC now owns 9,075 shares of the scientific and technical instruments company’s stock valued at $1,872,000 after purchasing an additional 2,910 shares during the period. 81.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GRMN. JPMorgan Chase & Co. dropped their price target on shares of Garmin from $260.00 to $220.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Morgan Stanley raised Garmin to a “sell” rating and lifted their target price for the stock from $164.00 to $171.00 in a research report on Tuesday, February 11th. Tigress Financial increased their price target on Garmin from $265.00 to $285.00 and gave the company a “strong-buy” rating in a report on Wednesday, February 26th. Finally, Barclays lifted their price objective on Garmin from $158.00 to $188.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a strong buy rating to the company. According to MarketBeat.com, Garmin presently has a consensus rating of “Hold” and an average price target of $202.80.

Garmin Trading Up 0.8 %

Shares of NYSE GRMN opened at $200.61 on Tuesday. The company has a market capitalization of $38.65 billion, a price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92. Garmin Ltd. has a twelve month low of $142.85 and a twelve month high of $246.50. The business has a 50 day simple moving average of $206.38 and a 200-day simple moving average of $206.24.

Garmin (NYSE:GRMN) last released its earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.51. Garmin had a net margin of 22.42% and a return on equity of 19.31%. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the previous year, the firm earned $1.72 earnings per share. The firm’s revenue for the quarter was up 22.9% compared to the same quarter last year. As a group, equities analysts predict that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.60 dividend on an annualized basis and a yield of 1.79%. Garmin’s payout ratio is currently 49.25%.

Insider Activity

In related news, CEO Clifton A. Pemble sold 7,202 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $227.14, for a total value of $1,635,862.28. Following the sale, the chief executive officer now owns 149,525 shares of the company’s stock, valued at $33,963,108.50. This trade represents a 4.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Patrick Desbois sold 6,911 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $227.15, for a total transaction of $1,569,833.65. Following the transaction, the chief operating officer now directly owns 63,048 shares of the company’s stock, valued at $14,321,353.20. The trade was a 9.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,342 shares of company stock valued at $5,486,094. 19.54% of the stock is currently owned by insiders.

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.