Garmin Ltd. (NYSE:GRMN) Stock Position Decreased by Nissay Asset Management Corp Japan ADV

Nissay Asset Management Corp Japan ADV cut its stake in shares of Garmin Ltd. (NYSE:GRMN) by 3.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,945 shares of the scientific and technical instruments company’s stock after selling 748 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Garmin were worth $4,176,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Golden State Wealth Management LLC purchased a new stake in shares of Garmin in the fourth quarter valued at $26,000. Aster Capital Management DIFC Ltd lifted its holdings in shares of Garmin by 864.3% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company’s stock valued at $28,000 after purchasing an additional 121 shares in the last quarter. Pinnacle Bancorp Inc. purchased a new stake in shares of Garmin in the fourth quarter valued at $29,000. SOA Wealth Advisors LLC. purchased a new stake in shares of Garmin in the fourth quarter valued at $37,000. Finally, Kentucky Trust Co purchased a new stake in shares of Garmin in the fourth quarter valued at $41,000. 81.60% of the stock is owned by institutional investors.

Garmin Trading Up 1.6%

Shares of NYSE:GRMN opened at $205.11 on Friday. Garmin Ltd. has a 1 year low of $158.38 and a 1 year high of $246.50. The business has a fifty day simple moving average of $198.41 and a 200 day simple moving average of $208.49. The firm has a market cap of $39.49 billion, a price-to-earnings ratio of 28.06, a P/E/G ratio of 1.36 and a beta of 0.99.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.01). Garmin had a return on equity of 19.31% and a net margin of 22.42%. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the prior year, the business posted $1.42 earnings per share. Garmin’s revenue was up 11.1% on a year-over-year basis. On average, sell-side analysts forecast that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders 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 annualized dividend and a yield of 1.76%. Garmin’s dividend payout ratio (DPR) is currently 47.37%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on GRMN shares. Morgan Stanley increased their target price on Garmin from $159.00 to $172.00 and gave the company an “underweight” rating in a report on Thursday, May 1st. Tigress Financial increased their target price on Garmin from $265.00 to $285.00 and gave the company a “strong-buy” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. reduced their target price on Garmin from $220.00 to $215.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. Finally, Barclays cut their price objective on Garmin from $188.00 to $152.00 and set an “underweight” rating for the company in a report on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $194.80.

Insider Buying and Selling at Garmin

In other news, CEO Clifton A. Pemble sold 7,202 shares of Garmin stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $227.14, for a total value of $1,635,862.28. Following the transaction, the chief executive officer now directly owns 149,525 shares in the company, valued at approximately $33,963,108.50. The trade was a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Patrick Desbois sold 6,911 shares of Garmin stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $227.15, for a total value of $1,569,833.65. Following the completion of the transaction, the chief operating officer now owns 63,048 shares in the company, valued at $14,321,353.20. The trade was a 9.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,342 shares of company stock worth $5,486,094 over the last three months. Corporate insiders own 15.38% of the company’s stock.

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.