180 Wealth Advisors LLC Raises Stock Position in Garmin Ltd. (NYSE:GRMN)

180 Wealth Advisors LLC grew its holdings in Garmin Ltd. (NYSE:GRMN) by 181.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,292 shares of the scientific and technical instruments company’s stock after acquiring an additional 4,054 shares during the period. 180 Wealth Advisors LLC’s holdings in Garmin were worth $937,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Wetzel Investment Advisors Inc. purchased a new stake in Garmin during the 4th quarter worth $26,000. Frazier Financial Advisors LLC purchased a new stake in Garmin during the 4th quarter worth $33,000. Headinvest LLC purchased a new stake in Garmin during the 3rd quarter worth $41,000. Blue Trust Inc. grew its holdings in Garmin by 35.2% during the 4th quarter. Blue Trust Inc. now owns 380 shares of the scientific and technical instruments company’s stock worth $49,000 after acquiring an additional 99 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in Garmin during the 4th quarter worth $51,000. Hedge funds and other institutional investors own 73.41% of the company’s stock.

Garmin Stock Performance

Shares of NYSE GRMN traded up $0.94 during midday trading on Thursday, hitting $162.10. The company’s stock had a trading volume of 476,229 shares, compared to its average volume of 867,110. The firm’s fifty day moving average price is $161.09 and its 200-day moving average price is $142.74. The firm has a market cap of $31.14 billion, a P/E ratio of 22.86, a P/E/G ratio of 3.45 and a beta of 0.98. Garmin Ltd. has a 1-year low of $99.61 and a 1-year high of $171.64.

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 analyst estimates of $1.25 billion. Garmin had a net margin of 24.96% and a return on equity of 17.26%. Garmin’s revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.02 EPS. As a group, research analysts predict that Garmin Ltd. will post 5.77 earnings per share for the current fiscal year.

Garmin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Friday, March 14th. Garmin’s payout ratio is 42.31%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GRMN shares. Barclays raised their price objective on shares of Garmin from $140.00 to $166.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Bank of America lowered shares of Garmin from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $165.00 to $150.00 in a report on Wednesday, May 22nd. JPMorgan Chase & Co. raised their price objective on shares of Garmin from $155.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Tigress Financial raised their price objective on shares of Garmin from $175.00 to $210.00 and gave the stock a “strong-buy” rating in a report on Tuesday, May 14th. Finally, StockNews.com raised shares of Garmin from a “hold” rating to a “buy” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Garmin presently has an average rating of “Hold” and an average price target of $156.83.

Insider Buying and Selling at Garmin

In related news, EVP Patrick Desbois sold 4,126 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $163.52, for a total value of $674,683.52. Following the sale, the executive vice president now directly owns 58,412 shares in the company, valued at approximately $9,551,530.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Douglas G. Boessen sold 2,350 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $161.63, for a total transaction of $379,830.50. Following the transaction, the chief financial officer now directly owns 28,010 shares of the company’s stock, valued at $4,527,256.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Patrick Desbois sold 4,126 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $163.52, for a total transaction of $674,683.52. Following the transaction, the executive vice president now directly owns 58,412 shares in the company, valued at $9,551,530.24. The disclosure for this sale can be found here. 19.54% of the stock is currently owned by company insiders.

Garmin Company 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.