Landscape Capital Management L.L.C. Has $3.77 Million Stock Position in Garmin Ltd. (NYSE:GRMN)

Landscape Capital Management L.L.C. lessened its holdings in Garmin Ltd. (NYSE:GRMN) by 16.1% during the fourth quarter, HoldingsChannel reports. The fund owned 18,276 shares of the scientific and technical instruments company’s stock after selling 3,500 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Garmin were worth $3,770,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in GRMN. Golden State Wealth Management LLC purchased a new stake in shares of Garmin in the fourth quarter worth approximately $26,000. Pinnacle Bancorp Inc. bought a new stake in Garmin during the fourth quarter worth $29,000. SOA Wealth Advisors LLC. bought a new position in Garmin during the 4th quarter valued at $37,000. Kentucky Trust Co bought a new position in Garmin during the 4th quarter valued at $41,000. Finally, Venturi Wealth Management LLC boosted its holdings 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 acquiring an additional 84 shares during the last quarter. Institutional investors own 81.60% of the company’s stock.

Garmin Stock Performance

GRMN stock opened at $185.28 on Friday. Garmin Ltd. has a fifty-two week low of $138.86 and a fifty-two week high of $246.50. The stock has a fifty day moving average of $216.77 and a 200-day moving average of $203.57. The company has a market capitalization of $35.65 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 1.36 and a beta of 0.96.

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

Garmin Announces Dividend

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 paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.60 annualized dividend and a yield of 1.94%. Garmin’s dividend payout ratio is currently 49.25%.

Insider Buying and Selling

In related news, VP Susan Lyman sold 2,829 shares of the firm’s stock in a transaction that occurred on 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 directly owns 8,432 shares of the company’s stock, valued at $1,817,180.32. This trade represents a 25.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Matthew Munn sold 4,637 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $225.31, for a total value of $1,044,762.47. Following the completion of the sale, the director now directly owns 11,450 shares of the company’s stock, valued at approximately $2,579,799.50. This represents a 28.82 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,342 shares of company stock valued at $5,486,094. Company insiders own 19.54% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on GRMN. Tigress Financial raised their price target on shares of Garmin from $265.00 to $285.00 and gave the company a “strong-buy” rating in a research report on Wednesday, February 26th. Barclays increased their price target on Garmin from $158.00 to $188.00 and gave the company an “underweight” rating in a research report on Thursday, February 20th. Morgan Stanley raised Garmin to a “sell” rating and boosted their price objective for the stock from $164.00 to $171.00 in a research report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. upped their price objective on Garmin from $219.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $210.80.

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.