Garmin Ltd. (NYSE:GRMN) Shares Bought by Integrity Wealth Solutions LLC

Integrity Wealth Solutions LLC grew its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 29.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,370 shares of the scientific and technical instruments company’s stock after purchasing an additional 539 shares during the period. Integrity Wealth Solutions LLC’s holdings in Garmin were worth $353,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of GRMN. FMR LLC increased its position in shares of Garmin by 11.5% during the 3rd quarter. FMR LLC now owns 306,175 shares of the scientific and technical instruments company’s stock valued at $32,210,000 after purchasing an additional 31,494 shares during the period. LPL Financial LLC lifted its position in shares of Garmin by 5.9% during the 3rd quarter. LPL Financial LLC now owns 39,544 shares of the scientific and technical instruments company’s stock valued at $4,160,000 after acquiring an additional 2,212 shares during the last quarter. Natixis Advisors L.P. boosted its stake in shares of Garmin by 0.9% during the 3rd quarter. Natixis Advisors L.P. now owns 23,102 shares of the scientific and technical instruments company’s stock worth $2,430,000 after acquiring an additional 199 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of Garmin in the 3rd quarter worth $203,000. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in shares of Garmin by 3,566.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 60,860 shares of the scientific and technical instruments company’s stock worth $6,402,000 after purchasing an additional 59,200 shares during the period. 73.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Garmin Trading Up 0.2 %

Shares of GRMN stock opened at $161.49 on Wednesday. The firm has a market capitalization of $31.02 billion, a P/E ratio of 22.78, a price-to-earnings-growth ratio of 3.51 and a beta of 0.98. Garmin Ltd. has a 1 year low of $99.61 and a 1 year high of $171.64. The firm’s fifty day simple moving average is $162.34 and its 200 day simple moving average is $143.74.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, May 1st. The scientific and technical instruments company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.42. Garmin had a net margin of 24.96% and a return on equity of 17.26%. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the business earned $1.02 earnings per share. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. Equities research analysts anticipate that Garmin Ltd. will post 5.77 EPS for the current fiscal year.

Garmin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.86%. The ex-dividend date is Friday, March 14th. Garmin’s dividend payout ratio is 42.31%.

Insiders Place Their Bets

In other news, EVP Patrick Desbois sold 4,126 shares of Garmin stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $163.52, for a total value of $674,683.52. Following the completion of the sale, the executive vice president now directly owns 58,412 shares of the company’s stock, 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 this link. In other Garmin news, CFO Douglas G. Boessen sold 2,350 shares of Garmin stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $161.63, for a total value of $379,830.50. Following the transaction, the chief financial officer now 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 SEC, which is accessible through this link. Also, EVP Patrick Desbois sold 4,126 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $163.52, for a total transaction of $674,683.52. Following the sale, the executive vice president now directly owns 58,412 shares of the company’s stock, valued at approximately $9,551,530.24. The disclosure for this sale can be found here. Corporate insiders own 19.54% of the company’s stock.

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.