Janus Henderson Group PLC Has $4.66 Million Stake in Garmin Ltd. (NYSE:GRMN)

Janus Henderson Group PLC grew its holdings in Garmin Ltd. (NYSE:GRMN) by 15.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,596 shares of the scientific and technical instruments company’s stock after buying an additional 3,032 shares during the period. Janus Henderson Group PLC’s holdings in Garmin were worth $4,662,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new stake in Garmin during the 4th quarter worth $26,000. Aster Capital Management DIFC Ltd lifted its stake in shares of Garmin by 864.3% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company’s stock valued at $28,000 after purchasing an additional 121 shares during the period. SOA Wealth Advisors LLC. acquired a new position in shares of Garmin in the 4th quarter valued at about $37,000. Kentucky Trust Co acquired a new position in shares of Garmin in the 4th quarter valued at about $41,000. Finally, Venturi Wealth Management LLC raised its stake in Garmin by 67.7% during the 4th quarter. Venturi Wealth Management LLC now owns 208 shares of the scientific and technical instruments company’s stock worth $43,000 after buying an additional 84 shares during the period. 81.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Garmin news, CFO Douglas G. Boessen sold 2,763 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $226.55, for a total transaction of $625,957.65. Following the sale, the chief financial officer now owns 30,936 shares in the company, valued at $7,008,550.80. This trade represents a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Susan Lyman sold 2,829 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $215.51, for a total value of $609,677.79. Following the sale, the vice president now owns 8,432 shares in the company, valued at $1,817,180.32. The trade was a 25.12% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,342 shares of company stock worth $5,486,094. Corporate insiders own 15.38% of the company’s stock.

Garmin Price Performance

NYSE:GRMN opened at $205.11 on Monday. The company has a market cap of $39.49 billion, a P/E ratio of 28.06, a P/E/G ratio of 1.36 and a beta of 0.99. The stock’s fifty day moving average price is $198.41 and its two-hundred day moving average price is $208.59. Garmin Ltd. has a 1 year low of $158.38 and a 1 year high of $246.50.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.01). Garmin had a return on equity of 19.31% and a net margin of 22.42%. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter last year, the business posted $1.42 EPS. The company’s quarterly revenue was up 11.1% on a year-over-year basis. On average, analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The firm 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 $0.90 dividend. The ex-dividend date is Friday, March 13th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.76%. Garmin’s dividend payout ratio (DPR) is presently 47.37%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on GRMN shares. Tigress Financial upped their price target on Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. reduced their target price on Garmin from $220.00 to $215.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. Barclays reduced their price objective on Garmin from $188.00 to $152.00 and set an “underweight” rating for the company in a report on Wednesday, April 30th. Finally, Morgan Stanley increased their price objective on Garmin from $159.00 to $172.00 and gave the company an “underweight” rating in a report on Thursday, May 1st. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $194.80.

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.