Envestnet Asset Management Inc. increased its holdings in shares of Garmin Ltd. (NASDAQ:GRMN) by 98.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 52,229 shares of the scientific and technical instruments company’s stock after acquiring an additional 25,958 shares during the period. Envestnet Asset Management Inc.’s holdings in Garmin were worth $4,510,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of GRMN. Cozad Asset Management Inc. boosted its position in Garmin by 0.5% in the first quarter. Cozad Asset Management Inc. now owns 32,811 shares of the scientific and technical instruments company’s stock valued at $2,833,000 after buying an additional 172 shares in the last quarter. Signaturefd LLC boosted its position in Garmin by 10.6% in the first quarter. Signaturefd LLC now owns 1,796 shares of the scientific and technical instruments company’s stock valued at $155,000 after buying an additional 172 shares in the last quarter. Raymond James Trust N.A. boosted its position in Garmin by 5.3% in the first quarter. Raymond James Trust N.A. now owns 3,944 shares of the scientific and technical instruments company’s stock valued at $341,000 after buying an additional 197 shares in the last quarter. New Mexico Educational Retirement Board boosted its position in Garmin by 2.0% in the first quarter. New Mexico Educational Retirement Board now owns 10,100 shares of the scientific and technical instruments company’s stock valued at $872,000 after buying an additional 200 shares in the last quarter. Finally, King Luther Capital Management Corp boosted its position in Garmin by 1.5% in the fourth quarter. King Luther Capital Management Corp now owns 13,938 shares of the scientific and technical instruments company’s stock valued at $883,000 after buying an additional 208 shares in the last quarter. Institutional investors and hedge funds own 42.60% of the company’s stock.

In other Garmin news, EVP Patrick Desbois sold 1,749 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $86.00, for a total value of $150,414.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 23.83% of the company’s stock.

A number of equities analysts have commented on GRMN shares. Tigress Financial restated a “buy” rating on shares of Garmin in a research report on Tuesday, June 11th. Zacks Investment Research upgraded shares of Garmin from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research report on Monday, February 25th. Longbow Research set a $75.00 price target on shares of Garmin and gave the company a “buy” rating in a research report on Tuesday, February 19th. BidaskClub lowered shares of Garmin from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 16th. Finally, Morgan Stanley set a $81.00 price target on shares of Garmin and gave the company a “hold” rating in a research report on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $78.66.

NASDAQ:GRMN opened at $79.79 on Friday. The stock has a market capitalization of $15.80 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 2.90 and a beta of 0.96. Garmin Ltd. has a 12 month low of $59.39 and a 12 month high of $89.72. The company has a current ratio of 4.04, a quick ratio of 3.07 and a debt-to-equity ratio of 0.01.

Garmin (NASDAQ:GRMN) last released its quarterly earnings results on Wednesday, May 1st. The scientific and technical instruments company reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. The firm had revenue of $766.00 million for the quarter, compared to analyst estimates of $733.26 million. Garmin had a net margin of 20.72% and a return on equity of 17.60%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 earnings per share. Research analysts predict that Garmin Ltd. will post 3.75 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Friday, September 13th. Garmin’s dividend payout ratio is presently 57.45%.

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Garmin Profile

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.

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Institutional Ownership by Quarter for Garmin (NASDAQ:GRMN)

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