Capital Advisors Ltd. LLC Sells 61 Shares of Garmin Ltd. (NYSE:GRMN)

Capital Advisors Ltd. LLC reduced its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 30.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 141 shares of the scientific and technical instruments company’s stock after selling 61 shares during the quarter. Capital Advisors Ltd. LLC’s holdings in Garmin were worth $29,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Golden State Wealth Management LLC bought a new stake in Garmin during the fourth quarter worth $26,000. Pinnacle Bancorp Inc. bought a new stake in Garmin during the fourth quarter worth $29,000. SOA Wealth Advisors LLC. bought a new stake in Garmin during the fourth quarter worth $37,000. Larson Financial Group LLC lifted its holdings in Garmin by 578.6% during the third 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 period. Finally, Kentucky Trust Co bought a new stake in Garmin during the fourth quarter worth $41,000. 81.60% of the stock is currently owned by institutional investors.

Insider Activity at Garmin

In related news, CFO Douglas G. Boessen sold 1,761 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was 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 directly owns 27,612 shares in the company, valued at $5,743,019.88. The trade was a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 19.54% of the stock is currently owned by corporate insiders.

Garmin Stock Performance

NYSE:GRMN opened at $222.59 on Tuesday. Garmin Ltd. has a 52-week low of $133.16 and a 52-week high of $246.50. The firm has a market cap of $42.83 billion, a price-to-earnings ratio of 30.45, a PEG ratio of 1.36 and a beta of 0.98. The business’s fifty day moving average is $213.43 and its 200 day moving average is $195.96.

Garmin (NYSE:GRMN) last released its quarterly earnings data on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.51. Garmin had a return on equity of 19.31% and a net margin of 22.42%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period in the previous year, the company posted $1.72 EPS. The firm’s revenue for the quarter was up 22.9% compared to the same quarter last year. Equities analysts predict that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.62%. Garmin’s payout ratio is 41.04%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GRMN. Barclays boosted their target price on Garmin from $158.00 to $188.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. boosted their target price on Garmin from $219.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Tigress Financial boosted their target price on Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a research note on Monday, December 16th. Finally, Morgan Stanley upgraded Garmin to a “sell” rating and boosted their target price for the company from $164.00 to $171.00 in a research note on Tuesday, February 11th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $206.80.

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.