Public Employees Retirement Association of Colorado boosted its position in Garmin Ltd. (NASDAQ:GRMN) by 1.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,277 shares of the scientific and technical instruments company’s stock after buying an additional 264 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Garmin were worth $1,137,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. ProShare Advisors LLC boosted its position in Garmin by 119.0% in the first quarter. ProShare Advisors LLC now owns 43,359 shares of the scientific and technical instruments company’s stock worth $2,216,000 after buying an additional 23,556 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in Garmin by 11.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,162 shares of the scientific and technical instruments company’s stock worth $151,000 after buying an additional 323 shares in the last quarter. Nationwide Fund Advisors boosted its position in Garmin by 2.3% in the first quarter. Nationwide Fund Advisors now owns 83,891 shares of the scientific and technical instruments company’s stock worth $4,288,000 after buying an additional 1,900 shares in the last quarter. James Investment Research Inc. purchased a new position in Garmin during the first quarter worth approximately $144,000. Finally, Capital Investment Advisors LLC boosted its position in Garmin by 25.5% in the first quarter. Capital Investment Advisors LLC now owns 56,709 shares of the scientific and technical instruments company’s stock worth $2,898,000 after buying an additional 11,517 shares in the last quarter. 42.88% of the stock is owned by hedge funds and other institutional investors.

Shares of Garmin Ltd. (NASDAQ GRMN) opened at 51.80 on Tuesday. The stock has a market capitalization of $9.72 billion, a PE ratio of 14.55 and a beta of 0.86. The firm has a 50-day moving average of $51.25 and a 200 day moving average of $51.19. Garmin Ltd. has a 52-week low of $46.05 and a 52-week high of $55.74.

Garmin (NASDAQ:GRMN) last announced its earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.88 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.07. The company had revenue of $816.89 million during the quarter, compared to analyst estimates of $806.67 million. Garmin had a net margin of 22.07% and a return on equity of 15.55%. Garmin’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.87 earnings per share. Equities research analysts forecast that Garmin Ltd. will post $2.80 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend is Thursday, September 14th. Garmin’s dividend payout ratio (DPR) is presently 57.46%.

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A number of equities analysts recently commented on the stock. Zacks Investment Research cut shares of Garmin from a “buy” rating to a “hold” rating in a research note on Monday, May 8th. BidaskClub cut shares of Garmin from a “sell” rating to a “strong sell” rating in a research note on Friday, August 4th. Tigress Financial assumed coverage on shares of Garmin in a research note on Tuesday, May 2nd. They set a “buy” rating for the company. Longbow Research reaffirmed a “buy” rating on shares of Garmin in a research note on Thursday, August 3rd. Finally, Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of Garmin in a research note on Tuesday, August 8th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. Garmin has an average rating of “Hold” and an average target price of $51.21.

In other Garmin news, insider Sean Biddlecombe sold 1,697 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $51.83, for a total transaction of $87,955.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Jonathan Burrell sold 232,000 shares of the stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $51.36, for a total transaction of $11,915,520.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 633,697 shares of company stock valued at $32,894,476. 18.30% of the stock is currently owned by insiders.

Garmin Company Profile

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.

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Institutional Ownership by Quarter for Garmin (NASDAQ:GRMN)

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