Garmin Ltd. (NYSE:GRMN) Shares Sold by Signal Advisors Wealth LLC

Signal Advisors Wealth LLC reduced its holdings in Garmin Ltd. (NYSE:GRMN) by 6.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,843 shares of the scientific and technical instruments company’s stock after selling 185 shares during the quarter. Signal Advisors Wealth LLC’s holdings in Garmin were worth $423,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in GRMN. Loomis Sayles & Co. L P increased its stake in Garmin by 175.5% in the third quarter. Loomis Sayles & Co. L P now owns 675 shares of the scientific and technical instruments company’s stock valued at $71,000 after purchasing an additional 430 shares during the last quarter. Aviva PLC grew its position in Garmin by 35.9% during the third quarter. Aviva PLC now owns 29,657 shares of the scientific and technical instruments company’s stock valued at $3,120,000 after acquiring an additional 7,836 shares during the period. Kestra Advisory Services LLC grew its position in Garmin by 61.3% during the third quarter. Kestra Advisory Services LLC now owns 7,535 shares of the scientific and technical instruments company’s stock valued at $793,000 after acquiring an additional 2,864 shares during the period. Rafferty Asset Management LLC boosted its position in shares of Garmin by 6.6% in the third quarter. Rafferty Asset Management LLC now owns 12,514 shares of the scientific and technical instruments company’s stock worth $1,316,000 after buying an additional 777 shares during the period. Finally, Korea Investment CORP boosted its position in shares of Garmin by 117.7% in the third quarter. Korea Investment CORP now owns 36,831 shares of the scientific and technical instruments company’s stock worth $3,875,000 after buying an additional 19,910 shares during the period. 73.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Garmin

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

Garmin Stock Down 0.5 %

Shares of NYSE GRMN opened at $159.96 on Friday. The stock’s 50 day moving average price is $159.11 and its two-hundred day moving average price is $141.46. Garmin Ltd. has a 52-week low of $99.61 and a 52-week high of $171.64. The stock has a market capitalization of $30.72 billion, a P/E ratio of 22.56, a PEG ratio of 3.46 and a beta of 0.98.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, May 1st. The scientific and technical instruments company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.42. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Garmin had a return on equity of 17.26% and a net margin of 24.96%. The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.02 EPS. On average, analysts anticipate that Garmin Ltd. will post 5.77 EPS for the current year.

Garmin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Friday, March 14th. Garmin’s payout ratio is 42.31%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Bank of America downgraded Garmin from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $165.00 to $150.00 in a report on Wednesday, May 22nd. Barrington Research increased their price target on Garmin from $119.00 to $140.00 and gave the company an “equal weight” rating in a report on Thursday, February 22nd. Tigress Financial increased their price target on Garmin from $175.00 to $210.00 and gave the company a “strong-buy” rating in a report on Tuesday, May 14th. Barclays upped their price objective on Garmin from $140.00 to $166.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Finally, StockNews.com upgraded Garmin from a “hold” rating to a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Garmin currently has an average rating of “Hold” and a consensus target price of $156.83.

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.