Garmin Ltd. (NYSE:GRMN) Shares Acquired by First Horizon Advisors Inc.

First Horizon Advisors Inc. increased its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 129,198 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,619 shares during the period. First Horizon Advisors Inc. owned 0.07% of Garmin worth $16,607,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in GRMN. Wetzel Investment Advisors Inc. purchased a new stake in Garmin during the 4th quarter worth approximately $26,000. Headinvest LLC bought a new stake in shares of Garmin in the 3rd quarter worth about $41,000. Blue Trust Inc. raised its stake in shares of Garmin by 35.2% in the 4th quarter. Blue Trust Inc. now owns 380 shares of the scientific and technical instruments company’s stock valued at $49,000 after purchasing an additional 99 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in shares of Garmin during the fourth quarter worth about $51,000. Finally, NBC Securities Inc. acquired a new position in Garmin in the third quarter worth about $57,000. 73.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Garmin news, Director Jonathan Burrell sold 15,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $146.15, for a total transaction of $2,192,250.00. Following the transaction, the director now owns 623,834 shares in the company, valued at $91,173,339.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Garmin news, Director Jonathan Burrell sold 15,000 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $146.15, for a total transaction of $2,192,250.00. Following the completion of the transaction, the director now owns 623,834 shares of the company’s stock, valued at approximately $91,173,339.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 owns 159,319 shares in the company, valued at $21,379,016.61. The disclosure for this sale can be found here. In the last ninety days, insiders sold 99,476 shares of company stock worth $14,166,944. 19.89% of the stock is currently owned by insiders.

Garmin Stock Performance

Shares of Garmin stock traded up $0.89 during trading on Thursday, hitting $164.31. 493,946 shares of the stock traded hands, compared to its average volume of 952,073. The stock has a market cap of $31.56 billion, a P/E ratio of 24.44, a PEG ratio of 4.74 and a beta of 0.99. The company has a fifty day moving average price of $144.00 and a two-hundred day moving average price of $128.62. Garmin Ltd. has a twelve month low of $96.04 and a twelve month high of $165.50.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, May 1st. The scientific and technical instruments company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.42. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Garmin had a net margin of 24.67% and a return on equity of 16.60%. The company’s revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.02 earnings per share. On average, equities research analysts expect that Garmin Ltd. will post 5.45 EPS for the current fiscal year.

Garmin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Friday, December 13th. Garmin’s payout ratio is 43.52%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GRMN. StockNews.com raised Garmin from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. Tigress Financial reaffirmed a “strong-buy” rating and issued a $175.00 price objective (up previously from $165.00) on shares of Garmin in a report on Tuesday, February 27th. Barrington Research lifted their price target on Garmin from $119.00 to $140.00 and gave the company an “equal weight” rating in a research report on Thursday, February 22nd. Barclays lifted their price objective on shares of Garmin from $140.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. boosted their target price on Garmin from $155.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $153.50.

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.