Dynamic Technology Lab Private Ltd Acquires Shares of 4,172 Garmin Ltd. (NYSE:GRMN)

Dynamic Technology Lab Private Ltd bought a new stake in shares of Garmin Ltd. (NYSE:GRMN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,172 shares of the scientific and technical instruments company’s stock, valued at approximately $861,000.

A number of other institutional investors also recently bought and sold shares of GRMN. Golden State Wealth Management LLC purchased a new stake in shares of Garmin in the fourth quarter valued at $26,000. Pinnacle Bancorp Inc. purchased a new stake in Garmin in the 4th quarter worth about $29,000. SOA Wealth Advisors LLC. bought a new stake in Garmin in the fourth quarter worth about $37,000. Kentucky Trust Co purchased a new position in shares of Garmin during the fourth quarter valued at approximately $41,000. Finally, Venturi Wealth Management LLC grew its stake in shares of Garmin by 67.7% during the fourth quarter. Venturi Wealth Management LLC now owns 208 shares of the scientific and technical instruments company’s stock valued at $43,000 after buying an additional 84 shares during the last quarter. 81.60% of the stock is currently owned by institutional investors.

Insider Transactions at Garmin

In other Garmin news, COO Patrick Desbois sold 6,911 shares of Garmin stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $227.15, for a total value of $1,569,833.65. Following the transaction, the chief operating officer now directly owns 63,048 shares of the company’s stock, valued at approximately $14,321,353.20. The trade was a 9.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Susan Lyman sold 2,829 shares of the stock in a transaction 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 owns 8,432 shares of the company’s stock, valued at approximately $1,817,180.32. This represents a 25.12 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 24,342 shares of company stock valued at $5,486,094. Corporate insiders own 19.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Morgan Stanley raised Garmin to a “sell” rating and raised their price target for the stock 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, February 20th. Tigress Financial raised their price target on shares of Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, February 26th. Finally, Barclays upped their target price on shares of Garmin from $158.00 to $188.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Garmin has an average rating of “Hold” and a consensus target price of $210.80.

Garmin Price Performance

GRMN stock opened at $178.18 on Monday. Garmin Ltd. has a 1-year low of $138.86 and a 1-year high of $246.50. The business has a 50-day moving average price of $216.05 and a 200 day moving average price of $204.07. The company has a market capitalization of $34.28 billion, a P/E ratio of 24.37, a PEG ratio of 1.36 and a beta of 0.96.

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

Garmin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.02%. Garmin’s dividend payout ratio is presently 49.25%.

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.