State of Tennessee Treasury Department decreased its position in Garmin Ltd. (NASDAQ:GRMN) by 1.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 33,968 shares of the scientific and technical instruments company’s stock after selling 451 shares during the period. State of Tennessee Treasury Department’s holdings in Garmin were worth $2,546,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its holdings in Garmin by 6.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 152,859 shares of the scientific and technical instruments company’s stock worth $11,458,000 after buying an additional 9,203 shares in the last quarter. HighTower Advisors LLC lifted its holdings in Garmin by 45.1% during the 1st quarter. HighTower Advisors LLC now owns 23,631 shares of the scientific and technical instruments company’s stock worth $1,770,000 after buying an additional 7,341 shares in the last quarter. Johnson Investment Counsel Inc. lifted its holdings in Garmin by 107.7% during the 1st quarter. Johnson Investment Counsel Inc. now owns 7,415 shares of the scientific and technical instruments company’s stock worth $636,000 after buying an additional 3,845 shares in the last quarter. X Square Capital LLC lifted its holdings in Garmin by 18.3% during the 1st quarter. X Square Capital LLC now owns 3,079 shares of the scientific and technical instruments company’s stock worth $231,000 after buying an additional 476 shares in the last quarter. Finally, Twinbeech Capital LP raised its holdings in shares of Garmin by 181.9% in the 1st quarter. Twinbeech Capital LP now owns 19,887 shares of the scientific and technical instruments company’s stock valued at $1,491,000 after purchasing an additional 12,833 shares in the last quarter. 46.95% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently commented on the stock. BidaskClub upgraded shares of Garmin from a “sell” rating to a “hold” rating in a research note on Friday, May 29th. ValuEngine raised shares of Garmin from a “sell” rating to a “hold” rating in a research report on Tuesday, March 3rd. Zacks Investment Research raised shares of Garmin from a “sell” rating to a “hold” rating and set a $91.00 price objective on the stock in a research report on Wednesday, May 27th. Morgan Stanley raised their price objective on shares of Garmin from $77.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Finally, Cfra lowered their price objective on shares of Garmin from $104.00 to $95.00 and set a “hold” rating on the stock in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $95.29.

In other Garmin news, Director Matthew Munn sold 1,500 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $80.84, for a total transaction of $121,260.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Patrick Desbois sold 3,818 shares of the stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $94.95, for a total transaction of $362,519.10. The disclosure for this sale can be found here. Corporate insiders own 22.00% of the company’s stock.

Shares of GRMN stock opened at $96.15 on Tuesday. The company has a market capitalization of $18.12 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 4.01 and a beta of 0.99. The firm has a fifty day simple moving average of $90.01 and a 200-day simple moving average of $89.08. The company has a current ratio of 3.75, a quick ratio of 2.74 and a debt-to-equity ratio of 0.01. Garmin Ltd. has a twelve month low of $61.04 and a twelve month high of $105.58.

Garmin (NASDAQ:GRMN) last announced its earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.07. The business had revenue of $856.11 million during the quarter, compared to the consensus estimate of $817.65 million. Garmin had a net margin of 25.30% and a return on equity of 19.38%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.73 earnings per share. Equities research analysts predict that Garmin Ltd. will post 3.22 EPS for the current year.

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

Garmin 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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