HighTower Advisors LLC increased its position in Garmin Ltd. (NASDAQ:GRMN) by 45.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,631 shares of the scientific and technical instruments company’s stock after purchasing an additional 7,341 shares during the period. HighTower Advisors LLC’s holdings in Garmin were worth $1,770,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. CSat Investment Advisory L.P. boosted its stake in Garmin by 19.6% in the fourth quarter. CSat Investment Advisory L.P. now owns 768 shares of the scientific and technical instruments company’s stock valued at $75,000 after acquiring an additional 126 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Garmin by 16.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 920 shares of the scientific and technical instruments company’s stock valued at $90,000 after acquiring an additional 130 shares during the period. Cooper Financial Group boosted its stake in Garmin by 4.8% in the first quarter. Cooper Financial Group now owns 2,995 shares of the scientific and technical instruments company’s stock valued at $225,000 after acquiring an additional 137 shares during the period. Gateway Investment Advisers LLC boosted its stake in Garmin by 0.7% in the first quarter. Gateway Investment Advisers LLC now owns 22,037 shares of the scientific and technical instruments company’s stock valued at $1,652,000 after acquiring an additional 157 shares during the period. Finally, Signaturefd LLC boosted its stake in Garmin by 7.5% in the first quarter. Signaturefd LLC now owns 2,238 shares of the scientific and technical instruments company’s stock valued at $168,000 after acquiring an additional 157 shares during the period. Institutional investors and hedge funds own 46.95% of the company’s stock.

A number of equities analysts have commented on GRMN shares. Morgan Stanley lifted their target price on Garmin from $77.00 to $82.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. Colliers Secur. upgraded Garmin from a “neutral” rating to a “buy” rating and set a $118.00 target price for the company in a research note on Monday, June 15th. Bank of America reduced their price objective on Garmin from $85.00 to $76.00 and set an “underperform” rating for the company in a research report on Monday, May 18th. Cleveland Research upgraded Garmin from a “neutral” rating to a “buy” rating in a research report on Monday, March 16th. Finally, Cfra reduced their price objective on Garmin from $104.00 to $95.00 and set a “hold” rating for the company in a research report on Wednesday, April 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Garmin has a consensus rating of “Hold” and a consensus target price of $95.29.

In other Garmin news, EVP Patrick Desbois sold 3,818 shares of the company’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $94.95, for a total value of $362,519.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Matthew Munn sold 1,500 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $80.84, for a total value of $121,260.00. The disclosure for this sale can be found here. 22.00% of the stock is owned by insiders.

Shares of NASDAQ:GRMN opened at $96.15 on Tuesday. Garmin Ltd. has a 12 month low of $61.04 and a 12 month high of $105.58. The stock has a market cap of $18.12 billion, a price-to-earnings ratio of 18.89, a PEG ratio of 4.01 and a beta of 0.99. The stock’s 50 day moving average price is $90.01 and its 200 day moving average price is $89.08. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.75 and a quick ratio of 2.74.

Garmin (NASDAQ:GRMN) last announced its earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $0.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.07. Garmin had a return on equity of 19.38% and a net margin of 25.30%. The firm had revenue of $856.11 million for the quarter, compared to analysts’ expectations of $817.65 million. During the same quarter in the previous year, the company earned $0.73 earnings per share. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, sell-side analysts expect that Garmin Ltd. will post 3.22 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 31st. Investors of record on Monday, March 15th will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, March 12th. This represents a $2.44 annualized dividend and a yield of 2.54%. Garmin’s payout ratio is 54.83%.

Garmin Company Profile

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices worldwide. It operates through five segments: Auto, Aviation, Marine, Outdoor, and Fitness. The Auto segment offers personal navigation devices; infotainment systems; and action cameras, as well as mobile applications under the Garmin and NAVIGON names.

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Institutional Ownership by Quarter for Garmin (NASDAQ:GRMN)

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