Royal Fund Management LLC Has $4.24 Million Holdings in Garmin Ltd. (NYSE:GRMN)

Royal Fund Management LLC grew its holdings in Garmin Ltd. (NYSE:GRMNFree Report) by 2.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,459 shares of the scientific and technical instruments company’s stock after purchasing an additional 662 shares during the period. Royal Fund Management LLC’s holdings in Garmin were worth $4,238,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wetzel Investment Advisors Inc. acquired a new stake in shares of Garmin in the fourth quarter valued at approximately $26,000. Frazier Financial Advisors LLC acquired a new position in Garmin during the fourth quarter worth $33,000. Headinvest LLC acquired a new position in Garmin during the third quarter worth $41,000. Blue Trust Inc. increased its holdings in Garmin by 35.2% during the fourth quarter. Blue Trust Inc. now owns 380 shares of the scientific and technical instruments company’s stock worth $49,000 after buying an additional 99 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in Garmin during the fourth quarter worth $51,000. 73.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Garmin

In other news, EVP Patrick Desbois sold 4,126 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $163.52, for a total value of $674,683.52. Following the completion of the transaction, the executive vice president now owns 58,412 shares of the company’s stock, valued at $9,551,530.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Patrick Desbois sold 4,126 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $163.52, for a total value of $674,683.52. Following the completion of the transaction, the executive vice president now owns 58,412 shares of the company’s stock, valued at $9,551,530.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Douglas G. Boessen sold 2,350 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $161.63, for a total transaction of $379,830.50. Following the completion of the transaction, the chief financial officer now owns 28,010 shares of the company’s stock, valued at approximately $4,527,256.30. The disclosure for this sale can be found here. Company insiders own 19.54% of the company’s stock.

Garmin Price Performance

GRMN traded up $1.49 on Friday, hitting $161.45. 1,347,905 shares of the stock were exchanged, compared to its average volume of 563,615. Garmin Ltd. has a 12 month low of $99.61 and a 12 month high of $171.64. The business has a 50-day moving average of $159.47 and a two-hundred day moving average of $141.96. The firm has a market capitalization of $31.01 billion, a price-to-earnings ratio of 22.77, a PEG ratio of 3.45 and a beta of 0.98.

Garmin (NYSE:GRMNGet Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The scientific and technical instruments company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.42. Garmin had a net margin of 24.96% and a return on equity of 17.26%. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the prior year, the business posted $1.02 earnings per share. Garmin’s revenue was up 20.4% compared to the same quarter last year. Equities research analysts expect that Garmin Ltd. will post 5.77 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.75 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.86%. Garmin’s dividend payout ratio (DPR) is currently 42.31%.

Analyst Ratings Changes

A number of brokerages recently weighed in on GRMN. Tigress Financial boosted their target price on shares of Garmin from $175.00 to $210.00 and gave the stock a “strong-buy” rating in a report on Tuesday, May 14th. StockNews.com upgraded shares of Garmin from a “hold” rating to a “buy” rating in a report on Wednesday. Barclays boosted their target price on shares of Garmin from $140.00 to $166.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Bank of America downgraded shares of Garmin from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $165.00 to $150.00 in a report on Wednesday, May 22nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Garmin from $155.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $156.83.

View Our Latest Report on Garmin

Garmin Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Garmin (NYSE:GRMN)

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