Xponance Inc. Has $2.60 Million Stock Position in Garmin Ltd. (NYSE:GRMN)

Xponance Inc. trimmed its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 5.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,229 shares of the scientific and technical instruments company’s stock after selling 1,061 shares during the period. Xponance Inc.’s holdings in Garmin were worth $2,600,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Pacer Advisors Inc. grew its stake in Garmin by 213.5% in the fourth quarter. Pacer Advisors Inc. now owns 41,557 shares of the scientific and technical instruments company’s stock valued at $5,342,000 after purchasing an additional 28,301 shares in the last quarter. Peterson Wealth Services purchased a new position in Garmin in the fourth quarter valued at about $2,365,000. Envestnet Asset Management Inc. grew its stake in Garmin by 42.7% in the third quarter. Envestnet Asset Management Inc. now owns 125,389 shares of the scientific and technical instruments company’s stock valued at $13,191,000 after purchasing an additional 37,532 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Garmin during the 4th quarter worth about $8,691,000. Finally, SteelPeak Wealth LLC boosted its stake in shares of Garmin by 369.6% during the 4th quarter. SteelPeak Wealth LLC now owns 14,087 shares of the scientific and technical instruments company’s stock worth $1,811,000 after acquiring an additional 11,087 shares in the last quarter. 73.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Garmin

In other Garmin news, Director Jonathan Burrell sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $146.15, for a total value of $2,192,250.00. Following the completion of the transaction, the director now owns 623,834 shares of the company’s stock, valued at approximately $91,173,339.10. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Garmin news, Director Jonathan Burrell sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $146.15, for a total value of $2,192,250.00. Following the completion of the transaction, the director now owns 623,834 shares of the company’s stock, valued at approximately $91,173,339.10. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Clifton A. Pemble sold 1,622 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were 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. Insiders sold a total of 99,476 shares of company stock valued at $14,166,944 in the last quarter. Corporate insiders own 19.89% of the company’s stock.

Garmin Stock Up 1.1 %

Shares of NYSE:GRMN opened at $141.02 on Tuesday. The business has a 50 day moving average price of $140.87 and a 200 day moving average price of $126.85. Garmin Ltd. has a twelve month low of $94.89 and a twelve month high of $149.54. The company has a market cap of $27.04 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 4.58 and a beta of 0.98.

Garmin (NYSE:GRMN) last announced its earnings results on Wednesday, February 21st. The scientific and technical instruments company reported $1.72 earnings per share 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 firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the company earned $1.35 EPS. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. Analysts anticipate that Garmin Ltd. will post 5.45 EPS for the current year.

Garmin Dividend Announcement

The company 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 $0.75 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.00 annualized dividend and a yield of 2.13%. Garmin’s dividend payout ratio (DPR) is 43.52%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price target on Garmin from $139.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Barrington Research upped 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. StockNews.com upgraded Garmin from a “hold” rating to a “buy” rating in a research note on Tuesday. Bank of America upped 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. Finally, Tigress Financial reiterated a “strong-buy” rating and set a $175.00 price target (up previously from $165.00) on shares of Garmin in a research note on Tuesday, February 27th. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $142.33.

Garmin Company 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.