New Age Alpha Advisors LLC Acquires Shares of 11,998 Garmin Ltd. (NYSE:GRMN)

New Age Alpha Advisors LLC bought a new position in shares of Garmin Ltd. (NYSE:GRMN) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 11,998 shares of the scientific and technical instruments company’s stock, valued at approximately $2,475,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in Garmin during the fourth quarter worth $396,184,000. Blair William & Co. IL raised its position in shares of Garmin by 6.1% during the 4th quarter. Blair William & Co. IL now owns 4,821 shares of the scientific and technical instruments company’s stock worth $994,000 after purchasing an additional 279 shares during the last quarter. NEOS Investment Management LLC lifted its stake in Garmin by 25.6% in the 4th quarter. NEOS Investment Management LLC now owns 6,074 shares of the scientific and technical instruments company’s stock valued at $1,253,000 after buying an additional 1,238 shares in the last quarter. Elo Mutual Pension Insurance Co boosted its holdings in Garmin by 15.5% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 15,702 shares of the scientific and technical instruments company’s stock worth $3,239,000 after buying an additional 2,104 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Garmin by 9.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 251,319 shares of the scientific and technical instruments company’s stock worth $52,061,000 after buying an additional 21,445 shares in the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Insider Transactions at Garmin

In related news, CEO Clifton A. Pemble sold 7,202 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $227.14, for a total transaction of $1,635,862.28. Following the completion of the sale, the chief executive officer now directly owns 149,525 shares of the company’s stock, valued at approximately $33,963,108.50. This trade represents a 4.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Susan Lyman sold 2,829 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $215.51, for a total transaction of $609,677.79. Following the completion of the sale, the vice president now owns 8,432 shares in the company, valued at approximately $1,817,180.32. This trade represents a 25.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,342 shares of company stock worth $5,486,094 in the last 90 days. Insiders own 19.54% of the company’s stock.

Garmin Stock Performance

NYSE GRMN opened at $213.59 on Friday. The stock’s fifty day moving average is $217.31 and its two-hundred day moving average is $202.89. The firm has a market capitalization of $41.10 billion, a P/E ratio of 29.22, a price-to-earnings-growth ratio of 1.36 and a beta of 0.96. Garmin Ltd. has a fifty-two week low of $138.86 and a fifty-two week high of $246.50.

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

Garmin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a dividend of $0.90 per share. The ex-dividend date is Friday, March 13th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.69%. Garmin’s dividend payout ratio is currently 49.25%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Tigress Financial raised their target price on Garmin from $265.00 to $285.00 and gave the company a “strong-buy” rating in a research report on Wednesday, February 26th. Barclays lifted their target price 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 raised shares of Garmin to a “sell” rating and upped their target price for the stock from $164.00 to $171.00 in a report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. raised their price target on shares of Garmin from $219.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $210.80.

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.