Cozad Asset Management Inc. Has $3.87 Million Stock Position in Garmin Ltd. (NYSE:GRMN)

Cozad Asset Management Inc. decreased its stake in Garmin Ltd. (NYSE:GRMN) by 2.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 30,070 shares of the scientific and technical instruments company’s stock after selling 878 shares during the quarter. Cozad Asset Management Inc.’s holdings in Garmin were worth $3,865,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Kestra Private Wealth Services LLC raised its stake in shares of Garmin by 3.1% during the 4th quarter. Kestra Private Wealth Services LLC now owns 4,610 shares of the scientific and technical instruments company’s stock worth $593,000 after purchasing an additional 138 shares in the last quarter. Silver Oak Securities Incorporated raised its stake in shares of Garmin by 4,933.3% during the 4th quarter. Silver Oak Securities Incorporated now owns 3,926 shares of the scientific and technical instruments company’s stock worth $505,000 after purchasing an additional 3,848 shares in the last quarter. Convergence Investment Partners LLC purchased a new stake in shares of Garmin during the 4th quarter worth about $1,366,000. Bryn Mawr Capital Management LLC bought a new position in shares of Garmin in the 4th quarter valued at approximately $299,000. Finally, Trust Asset Management LLC bought a new position in shares of Garmin in the 4th quarter valued at approximately $230,000. Institutional investors and hedge funds own 73.41% of the company’s stock.

Insider Buying and Selling

In related news, CEO Clifton A. Pemble sold 1,622 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $134.19, for a total transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Clifton A. Pemble sold 1,622 shares of Garmin stock in a transaction dated Monday, February 26th. The stock was 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Susan Lyman sold 2,587 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $135.18, for a total value of $349,710.66. Following the completion of the sale, the vice president now owns 7,174 shares of the company’s stock, valued at $969,781.32. 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 three months. Insiders own 19.89% of the company’s stock.

Wall Street Analysts Forecast Growth

GRMN has been the topic of a number of recent analyst reports. Bank of America raised their price objective on Garmin from $120.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Tigress Financial reaffirmed a “strong-buy” rating and issued a $175.00 target price (up previously from $165.00) on shares of Garmin in a report on Tuesday, February 27th. StockNews.com raised Garmin from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Barrington Research lifted their price objective on Garmin from $119.00 to $140.00 and gave the stock an “equal weight” rating in a report on Thursday, February 22nd. Finally, JPMorgan Chase & Co. boosted their price target on Garmin from $139.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. 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. According to data from MarketBeat, Garmin currently has an average rating of “Hold” and an average target price of $142.33.

Garmin Price Performance

NYSE:GRMN traded down $0.50 during trading hours on Tuesday, reaching $144.68. 359,026 shares of the company were exchanged, compared to its average volume of 926,069. The company has a market capitalization of $27.79 billion, a P/E ratio of 21.64, a P/E/G ratio of 4.70 and a beta of 0.98. Garmin Ltd. has a 1-year low of $95.79 and a 1-year high of $149.54. The business has a 50 day moving average of $142.97 and a 200 day moving average of $128.11.

Garmin (NYSE:GRMN) last issued its earnings results on Wednesday, February 21st. The scientific and technical instruments company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.32. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.41 billion. Garmin had a return on equity of 16.60% and a net margin of 24.67%. The company’s revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.35 EPS. As a group, equities research analysts anticipate that Garmin Ltd. will post 5.45 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.07%. The ex-dividend date is Friday, December 13th. Garmin’s dividend payout ratio is currently 43.52%.

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.