Burrell Jonathan

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revealed that they own 13.8% of Garmin Ltd. (NASDAQ:GRMN) in a Form 13G/A disclosure that was filed with the SEC on Monday, March 19th. The investor owns 26,042,130 shares of the stock valued at approximately $1,560,184,008. The filing is available through the SEC website at this link.

Other institutional investors have also bought and sold shares of the company. Heartland Advisors Inc. bought a new position in shares of Garmin in the 4th quarter worth $208,000. Garrison Financial Corp bought a new position in shares of Garmin in the 4th quarter worth $211,000. LMR Partners LLP bought a new position in shares of Garmin in the 4th quarter worth $283,000. Financial Advocates Investment Management bought a new position in shares of Garmin in the 4th quarter worth $320,000. Finally, Sciencast Management LP bought a new position in shares of Garmin in the 4th quarter worth $355,000. Hedge funds and other institutional investors own 39.29% of the company’s stock.

In other news, insider Clifton A. Pemble sold 36,208 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $65.00, for a total transaction of $2,353,520.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Andrew R. Etkind sold 1,929 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $60.61, for a total value of $116,916.69. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,842 shares of company stock valued at $3,359,960. Insiders own 18.30% of the company’s stock.

Several brokerages have weighed in on GRMN. BidaskClub cut Garmin from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 2nd. Credit Suisse Group restated an “underperform” rating and set a $58.00 price objective (up from $48.00) on shares of Garmin in a research note on Tuesday, December 12th. Tigress Financial restated a “buy” rating on shares of Garmin in a research note on Friday, December 15th. ValuEngine upgraded Garmin from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, Zacks Investment Research cut Garmin from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $57.13.

Shares of Garmin stock traded down $0.20 during trading hours on Monday, reaching $59.91. The company’s stock had a trading volume of 630,819 shares, compared to its average volume of 1,277,595. Garmin Ltd. has a fifty-two week low of $48.50 and a fifty-two week high of $65.96. The company has a market cap of $11,906.43, a PE ratio of 16.18, a PEG ratio of 2.36 and a beta of 0.97.

Garmin (NASDAQ:GRMN) last issued its quarterly earnings data on Wednesday, February 21st. The scientific and technical instruments company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.04. Garmin had a return on equity of 15.16% and a net margin of 22.51%. The business had revenue of $888.49 million for the quarter, compared to analysts’ expectations of $872.73 million. During the same period last year, the business earned $0.73 EPS. The business’s revenue was up 3.2% on a year-over-year basis. sell-side analysts anticipate that Garmin Ltd. will post 3.05 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Monday, June 18th will be given a dividend of $0.53 per share. This is a positive change from Garmin’s previous quarterly dividend of $0.51. This represents a $2.12 annualized dividend and a dividend yield of 3.54%. Garmin’s dividend payout ratio (DPR) is currently 55.43%.

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About Garmin

Garmin Ltd. (Garmin) and subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. The Company operates through five segments. It offers a range of auto navigation products, as well as a range of products and applications designed for the mobile GPS market. It offers products to consumers around the world, including Outdoor Handhelds, Wearable Devices, Golf Devices, and Dog Tracking and Training/Pet Obedience Devices.

Institutional Ownership by Quarter for Garmin (NASDAQ:GRMN)

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