6,824 Shares in Garmin Ltd. (NYSE:GRMN) Bought by Enhancing Capital LLC

Enhancing Capital LLC purchased a new position in shares of Garmin Ltd. (NYSE:GRMN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,824 shares of the scientific and technical instruments company’s stock, valued at approximately $1,408,000. Garmin makes up about 1.1% of Enhancing Capital LLC’s holdings, making the stock its 29th largest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in shares of Garmin by 2.0% in the third quarter. State Street Corp now owns 6,912,536 shares of the scientific and technical instruments company’s stock worth $1,216,819,000 after buying an additional 134,303 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Garmin by 2.7% in the third quarter. Geode Capital Management LLC now owns 4,363,464 shares of the scientific and technical instruments company’s stock worth $765,912,000 after buying an additional 112,815 shares in the last quarter. FMR LLC lifted its stake in shares of Garmin by 40.8% in the third quarter. FMR LLC now owns 3,775,154 shares of the scientific and technical instruments company’s stock worth $664,540,000 after buying an additional 1,093,219 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its stake in shares of Garmin by 3.6% in the third quarter. Disciplined Growth Investors Inc. MN now owns 1,401,004 shares of the scientific and technical instruments company’s stock worth $246,619,000 after buying an additional 48,645 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Garmin by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 889,838 shares of the scientific and technical instruments company’s stock worth $183,538,000 after buying an additional 14,200 shares in the last quarter. 81.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GRMN has been the topic of several research reports. Barclays raised their price target on shares of Garmin from $158.00 to $188.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Morgan Stanley upgraded shares of Garmin to a “sell” rating and raised their price objective for the stock from $164.00 to $171.00 in a research report on Tuesday, February 11th. Tigress Financial raised their price objective on shares of Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Garmin from $219.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Garmin currently has a consensus rating of “Hold” and an average target price of $210.80.

Insider Activity at Garmin

In other Garmin news, VP Susan Lyman sold 2,829 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $215.51, for a total transaction of $609,677.79. Following the completion of the transaction, the vice president now owns 8,432 shares of the company’s stock, valued at approximately $1,817,180.32. This trade represents a 25.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Clifton A. Pemble sold 7,202 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $227.14, for a total value of $1,635,862.28. Following the sale, the chief executive officer now owns 149,525 shares in the company, valued at $33,963,108.50. This trade represents a 4.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,103 shares of company stock valued at $5,852,364 in the last ninety days. Corporate insiders own 19.54% of the company’s stock.

Garmin Price Performance

Shares of Garmin stock opened at $212.43 on Tuesday. The firm’s fifty day simple moving average is $217.09 and its 200-day simple moving average is $201.06. The stock has a market capitalization of $40.87 billion, a price-to-earnings ratio of 29.06, a PEG ratio of 1.36 and a beta of 0.96. Garmin Ltd. has a 12 month low of $138.86 and a 12 month high of $246.50.

Garmin (NYSE:GRMN) last announced 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 the consensus estimate of $1.90 by $0.51. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Garmin had a net margin of 22.42% and a return on equity of 19.31%. Garmin’s revenue was up 22.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.72 EPS. Analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Dividend Announcement

The company 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 $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.69%. The ex-dividend date is Friday, March 13th. Garmin’s payout ratio is currently 41.04%.

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.