Honkamp Krueger Financial Services Inc. Sells 394 Shares of Garmin Ltd. (NASDAQ:GRMN)

Honkamp Krueger Financial Services Inc. trimmed its stake in shares of Garmin Ltd. (NASDAQ:GRMN) by 9.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,722 shares of the scientific and technical instruments company’s stock after selling 394 shares during the quarter. Honkamp Krueger Financial Services Inc.’s holdings in Garmin were worth $363,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the stock. First Trust Advisors LP grew its position in Garmin by 173.9% during the third quarter. First Trust Advisors LP now owns 1,344,366 shares of the scientific and technical instruments company’s stock worth $113,854,000 after buying an additional 853,458 shares in the last quarter. BlackRock Inc. grew its position in Garmin by 7.4% during the second quarter. BlackRock Inc. now owns 11,943,119 shares of the scientific and technical instruments company’s stock worth $953,060,000 after buying an additional 824,805 shares in the last quarter. Nuveen Asset Management LLC grew its position in Garmin by 26,526.9% during the second quarter. Nuveen Asset Management LLC now owns 680,317 shares of the scientific and technical instruments company’s stock worth $54,290,000 after buying an additional 677,762 shares in the last quarter. Select Equity Group L.P. grew its position in Garmin by 51.2% during the third quarter. Select Equity Group L.P. now owns 1,437,265 shares of the scientific and technical instruments company’s stock worth $121,722,000 after buying an additional 486,444 shares in the last quarter. Finally, State Street Corp grew its position in Garmin by 7.4% during the third quarter. State Street Corp now owns 6,262,187 shares of the scientific and technical instruments company’s stock worth $530,350,000 after buying an additional 429,423 shares in the last quarter. Institutional investors own 45.56% of the company’s stock.

In other news, Chairman Min H. Kao sold 38,879 shares of the company’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $87.21, for a total value of $3,390,637.59. Following the completion of the transaction, the chairman now directly owns 1,644,429 shares in the company, valued at approximately $143,410,653.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Min H. Kao sold 132,131 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $94.27, for a total value of $12,455,989.37. The disclosure for this sale can be found here. Insiders sold a total of 865,064 shares of company stock valued at $81,173,429 over the last quarter. Company insiders own 23.83% of the company’s stock.

Garmin stock opened at $97.19 on Thursday. Garmin Ltd. has a 52 week low of $66.09 and a 52 week high of $99.26. The business has a 50-day simple moving average of $97.55 and a 200 day simple moving average of $87.72. The company has a quick ratio of 1.93, a current ratio of 2.64 and a debt-to-equity ratio of 0.01. The stock has a market cap of $19.27 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 3.10 and a beta of 0.89.

Garmin (NASDAQ:GRMN) last posted its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.32. Garmin had a return on equity of 18.73% and a net margin of 21.79%. The business had revenue of $934.38 million during the quarter, compared to analysts’ expectations of $869.02 million. During the same period in the previous year, the business earned $1.00 earnings per share. The firm’s revenue was up 15.4% on a year-over-year basis. On average, research analysts anticipate that Garmin Ltd. will post 4.16 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Friday, March 13th. Garmin’s payout ratio is currently 61.79%.

Several research firms recently commented on GRMN. BidaskClub cut Garmin from a “buy” rating to a “hold” rating in a research report on Wednesday. Morgan Stanley boosted their target price on Garmin from $81.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Finally, Tigress Financial restated a “buy” rating on shares of Garmin in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $81.19.

About Garmin

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices worldwide. It operates through five segments: Auto, Aviation, Marine, Outdoor, and Fitness. The Auto segment offers personal navigation devices; infotainment systems; and action cameras, as well as mobile applications under the Garmin and NAVIGON names.

Further Reading: Cash Flow

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Institutional Ownership by Quarter for Garmin (NASDAQ:GRMN)

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