7,692 Shares in Garmin Ltd. (NYSE:GRMN) Acquired by Navellier & Associates Inc.

Navellier & Associates Inc. acquired a new position in Garmin Ltd. (NYSE:GRMN) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 7,692 shares of the scientific and technical instruments company’s stock, valued at approximately $1,587,000.

Other hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new position in Garmin in the 4th quarter worth approximately $26,000. Pinnacle Bancorp Inc. purchased a new stake in Garmin during the 4th quarter valued at $29,000. Larson Financial Group LLC raised its stake in Garmin by 578.6% during the 3rd quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock valued at $33,000 after buying an additional 162 shares during the last quarter. SOA Wealth Advisors LLC. purchased a new stake in Garmin during the 4th quarter valued at $37,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in Garmin during the 3rd quarter valued at $39,000. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GRMN shares. Morgan Stanley upgraded shares of Garmin to a “sell” rating and boosted their target price for the company from $164.00 to $171.00 in a research note on Tuesday, February 11th. JPMorgan Chase & Co. boosted their target price on shares of Garmin from $219.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday. Barclays boosted their target price on shares of Garmin from $158.00 to $188.00 and gave the company an “underweight” rating in a research note on Thursday. Finally, Tigress Financial boosted their target price on shares of Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a research note on Monday, December 16th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $206.80.

Garmin Price Performance

Shares of GRMN stock opened at $224.67 on Friday. Garmin Ltd. has a 1 year low of $131.20 and a 1 year high of $246.50. The firm has a fifty day moving average price of $213.43 and a 200-day moving average price of $195.51. The company has a market cap of $43.23 billion, a price-to-earnings ratio of 30.73, a PEG ratio of 1.36 and a beta of 0.98.

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

Garmin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.60%. The ex-dividend date is Friday, March 13th. Garmin’s dividend payout ratio is currently 41.04%.

Insider Buying and Selling

In related news, CFO Douglas G. Boessen sold 1,761 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $207.99, for a total value of $366,270.39. Following the completion of the transaction, the chief financial officer now owns 27,612 shares of the company’s stock, valued at approximately $5,743,019.88. This represents a 6.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 19.54% of the stock is currently owned by insiders.

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.