Bryn Mawr Capital Management LLC Boosts Position in Garmin Ltd. (NYSE:GRMN)

Bryn Mawr Capital Management LLC increased its position in Garmin Ltd. (NYSE:GRMN) by 622.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,191 shares of the scientific and technical instruments company’s stock after acquiring an additional 9,643 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Garmin were worth $2,308,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of GRMN. Golden State Wealth Management LLC bought a new position in shares of Garmin in the fourth quarter worth $26,000. Pinnacle Bancorp Inc. purchased a new position in Garmin during the fourth quarter worth about $29,000. Larson Financial Group LLC increased its stake in Garmin by 578.6% in the 3rd quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock worth $33,000 after acquiring an additional 162 shares during the last quarter. SOA Wealth Advisors LLC. bought a new stake in shares of Garmin during the 4th quarter valued at about $37,000. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of Garmin during the third quarter worth about $39,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on GRMN shares. Tigress Financial raised their price objective on shares of Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a research report on Monday, December 16th. Morgan Stanley raised Garmin to a “sell” rating and raised their price objective for the company from $164.00 to $171.00 in a report on Tuesday, February 11th. JPMorgan Chase & Co. increased their price target on shares of Garmin from $219.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Barclays upped their price objective on shares of Garmin from $158.00 to $188.00 and gave the company an “underweight” rating in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $195.67.

Insider Activity at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 1,761 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $207.99, for a total transaction of $366,270.39. Following the completion of the transaction, the chief financial officer now owns 27,612 shares of the company’s stock, valued at $5,743,019.88. This represents a 6.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 19.54% of the stock is owned by corporate insiders.

Garmin Stock Performance

NYSE GRMN opened at $228.61 on Friday. Garmin Ltd. has a one year low of $128.89 and a one year high of $246.50. The stock has a 50-day moving average of $212.99 and a 200 day moving average of $194.84. The company has a market capitalization of $43.90 billion, a price-to-earnings ratio of 29.01, a PEG ratio of 1.28 and a beta of 0.98.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 EPS for the quarter, topping the consensus estimate of $1.90 by $0.51. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.70 billion. Garmin had a return on equity of 17.99% and a net margin of 25.48%. Garmin’s revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.72 earnings per share. On average, equities analysts predict that Garmin Ltd. will post 7.09 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be given a dividend of $0.90 per share. The ex-dividend date is Friday, March 13th. This represents a $3.60 annualized dividend and a dividend yield of 1.57%. Garmin’s payout ratio is 38.07%.

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.