TRUE Private Wealth Advisors Purchases Shares of 1,783 Garmin Ltd. (NYSE:GRMN)

TRUE Private Wealth Advisors purchased a new stake in Garmin Ltd. (NYSE:GRMN) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 1,783 shares of the scientific and technical instruments company’s stock, valued at approximately $229,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Avior Wealth Management LLC lifted its stake in shares of Garmin by 169.5% in the 3rd quarter. Avior Wealth Management LLC now owns 283 shares of the scientific and technical instruments company’s stock valued at $30,000 after purchasing an additional 178 shares during the period. Clear Street Markets LLC raised its stake in Garmin by 107.1% during the 1st quarter. Clear Street Markets LLC now owns 321 shares of the scientific and technical instruments company’s stock worth $32,000 after buying an additional 166 shares during the period. Headinvest LLC acquired a new position in Garmin during the 3rd quarter worth approximately $41,000. Blue Trust Inc. raised its stake in Garmin by 35.2% during the 4th 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 period. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in Garmin during the 4th quarter worth approximately $51,000. Institutional investors own 73.41% of the company’s stock.

Garmin Trading Down 0.3 %

Shares of NYSE GRMN opened at $140.63 on Friday. The stock has a fifty day simple moving average of $140.20 and a two-hundred day simple moving average of $126.02. Garmin Ltd. has a 1-year low of $94.89 and a 1-year high of $149.54. The firm has a market cap of $26.97 billion, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 4.63 and a beta of 0.98.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, February 21st. The scientific and technical instruments company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.32. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.41 billion. Garmin had a return on equity of 16.60% and a net margin of 24.67%. Garmin’s revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.35 earnings per share. Analysts forecast that Garmin Ltd. will post 5.45 EPS for the current year.

Garmin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.00 annualized dividend and a dividend yield of 2.13%. Garmin’s dividend payout ratio is currently 43.52%.

Insiders Place Their Bets

In other Garmin news, Director Jonathan Burrell sold 15,000 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $146.15, for a total transaction of $2,192,250.00. Following the sale, the director now owns 623,834 shares in the company, valued at $91,173,339.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Jonathan Burrell sold 15,000 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $146.15, for a total value of $2,192,250.00. Following the sale, the director now owns 623,834 shares in the company, valued at $91,173,339.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Clifton A. Pemble sold 1,622 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $134.19, for a total value of $217,656.18. Following the completion of the sale, the chief executive officer now owns 159,319 shares in the company, valued at approximately $21,379,016.61. The disclosure for this sale can be found here. Insiders have sold a total of 99,476 shares of company stock worth $14,166,944 over the last 90 days. Corporate insiders own 19.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GRMN. Bank of America upped their price target on Garmin from $120.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. boosted their price objective on Garmin from $139.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Tigress Financial reissued a “strong-buy” rating and set a $175.00 price objective (up from $165.00) on shares of Garmin in a report on Tuesday, February 27th. StockNews.com raised Garmin from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Barrington Research boosted their price objective on Garmin from $119.00 to $140.00 and gave the stock an “equal weight” rating in a report on Thursday, February 22nd. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $142.33.

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.