Strong Tower Advisory Services Sells 254 Shares of Garmin Ltd. (NYSE:GRMN)

Strong Tower Advisory Services decreased its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,199 shares of the scientific and technical instruments company’s stock after selling 254 shares during the period. Strong Tower Advisory Services’ holdings in Garmin were worth $1,568,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Wetherby Asset Management Inc. boosted its stake in Garmin by 3.7% during the first quarter. Wetherby Asset Management Inc. now owns 2,909 shares of the scientific and technical instruments company’s stock valued at $294,000 after buying an additional 105 shares during the period. BRYN MAWR TRUST Co lifted its stake in Garmin by 4.3% during the first quarter. BRYN MAWR TRUST Co now owns 2,623 shares of the scientific and technical instruments company’s stock worth $265,000 after purchasing an additional 107 shares during the last quarter. Independent Advisor Alliance lifted its stake in Garmin by 5.3% during the third quarter. Independent Advisor Alliance now owns 2,207 shares of the scientific and technical instruments company’s stock worth $232,000 after purchasing an additional 111 shares during the last quarter. Orion Portfolio Solutions LLC lifted its stake in Garmin by 4.4% during the second quarter. Orion Portfolio Solutions LLC now owns 2,688 shares of the scientific and technical instruments company’s stock worth $698,000 after purchasing an additional 114 shares during the last quarter. Finally, Magnolia Capital Advisors LLC lifted its stake in Garmin by 3.4% during the first quarter. Magnolia Capital Advisors LLC now owns 3,645 shares of the scientific and technical instruments company’s stock worth $368,000 after purchasing an additional 119 shares during the last quarter. Institutional investors own 73.41% of the company’s stock.

Analysts Set New Price Targets

GRMN has been the subject of several research analyst reports. Tigress Financial reaffirmed a “strong-buy” rating and set a $175.00 price target (up previously from $165.00) on shares of Garmin in a research note on Tuesday, February 27th. StockNews.com downgraded Garmin from a “buy” rating to a “hold” rating in a report on Tuesday, March 5th. JPMorgan Chase & Co. downgraded Garmin from an “overweight” rating to a “neutral” rating and set a $135.00 price target on the stock. in a report on Monday, January 8th. Finally, Barrington Research boosted their price target on Garmin from $119.00 to $140.00 and gave the company an “equal weight” rating in a report on Thursday, February 22nd. Seven investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $131.50.

Insider Transactions at Garmin

In other news, CEO Clifton A. Pemble sold 1,622 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $134.19, for a total value of $217,656.18. Following the sale, the chief executive officer now directly owns 159,319 shares of the company’s stock, valued at approximately $21,379,016.61. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Jonathan Burrell sold 15,000 shares of the company’s stock in a transaction that occurred 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 directly owns 623,834 shares of the company’s stock, valued at approximately $91,173,339.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Clifton A. Pemble sold 1,622 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were 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 directly owns 159,319 shares in the company, valued at $21,379,016.61. The disclosure for this sale can be found here. Insiders have sold a total of 99,476 shares of company stock valued at $14,166,944 in the last ninety days. 19.89% of the stock is currently owned by corporate insiders.

Garmin Price Performance

Shares of NYSE:GRMN opened at $148.93 on Friday. The stock’s 50-day moving average is $133.59 and its 200 day moving average is $121.89. The company has a market cap of $28.56 billion, a PE ratio of 22.20, a P/E/G ratio of 4.87 and a beta of 0.97. Garmin Ltd. has a 1 year low of $94.89 and a 1 year high of $149.54.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, February 21st. The scientific and technical instruments company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.32. The business had revenue of $1.48 billion for 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 business’s revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.35 EPS. Analysts expect that Garmin Ltd. will post 5.43 EPS for the current fiscal year.

Garmin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a $0.75 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.01%. Garmin’s dividend payout ratio is currently 43.52%.

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.