Cozad Asset Management Inc. Trims Holdings in Garmin Ltd. (NYSE:GRMN)

Cozad Asset Management Inc. cut its position in shares of Garmin Ltd. (NYSE:GRMN) by 2.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,070 shares of the scientific and technical instruments company’s stock after selling 878 shares during the quarter. Cozad Asset Management Inc.’s holdings in Garmin were worth $3,865,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in GRMN. Pacer Advisors Inc. boosted its holdings in shares of Garmin by 213.5% during the fourth quarter. Pacer Advisors Inc. now owns 41,557 shares of the scientific and technical instruments company’s stock valued at $5,342,000 after acquiring an additional 28,301 shares during the period. Peterson Wealth Services acquired a new stake in Garmin in the fourth quarter worth about $2,365,000. Envestnet Asset Management Inc. lifted its holdings in Garmin by 42.7% in the third quarter. Envestnet Asset Management Inc. now owns 125,389 shares of the scientific and technical instruments company’s stock worth $13,191,000 after purchasing an additional 37,532 shares during the period. International Assets Investment Management LLC acquired a new stake in Garmin in the fourth quarter worth about $8,691,000. Finally, SteelPeak Wealth LLC lifted its holdings in Garmin by 369.6% in the fourth quarter. SteelPeak Wealth LLC now owns 14,087 shares of the scientific and technical instruments company’s stock worth $1,811,000 after purchasing an additional 11,087 shares during the period. Institutional investors and hedge funds own 73.41% of the company’s stock.

Garmin Trading Down 0.3 %

NYSE:GRMN traded down $0.50 on Tuesday, hitting $144.68. 359,026 shares of the company’s stock traded hands, compared to its average volume of 926,069. Garmin Ltd. has a 1 year low of $95.79 and a 1 year high of $149.54. The firm has a 50-day moving average price of $142.97 and a 200-day moving average price of $128.11. The company has a market cap of $27.79 billion, a PE ratio of 21.64, a price-to-earnings-growth ratio of 4.70 and a beta of 0.98.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, February 21st. The scientific and technical instruments company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.40 by $0.32. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Garmin had a return on equity of 16.60% and a net margin of 24.67%. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.35 EPS. On average, research analysts forecast that Garmin Ltd. will post 5.45 EPS for the current fiscal year.

Garmin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, December 13th. This represents a $3.00 dividend on an annualized basis and a yield of 2.07%. Garmin’s payout ratio is currently 43.52%.

Analysts Set New Price Targets

GRMN has been the subject of several research analyst reports. StockNews.com raised shares of Garmin from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Tigress Financial reiterated a “strong-buy” rating and issued a $175.00 price target (up from $165.00) on shares of Garmin in a research report on Tuesday, February 27th. Bank of America boosted their price objective on Garmin from $120.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Barrington Research boosted their price objective on Garmin from $119.00 to $140.00 and gave the stock an “equal weight” rating in a report on Thursday, February 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on Garmin from $139.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Garmin currently has a consensus rating of “Hold” and a consensus target price of $142.33.

Insider Transactions at Garmin

In related news, VP Susan Lyman sold 2,587 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $135.18, for a total value of $349,710.66. Following the completion of the transaction, the vice president now directly owns 7,174 shares in the company, valued at $969,781.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Garmin news, VP Susan Lyman sold 2,587 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $135.18, for a total transaction of $349,710.66. Following the completion of the transaction, the vice president now directly owns 7,174 shares in the company, valued at $969,781.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jonathan Burrell sold 15,000 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $146.15, for a total value of $2,192,250.00. Following the transaction, the director now owns 623,834 shares of the company’s stock, valued at $91,173,339.10. The disclosure for this sale can be found here. Insiders sold a total of 99,476 shares of company stock worth $14,166,944 over the last three months. 19.89% of the stock is currently owned by insiders.

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.