Key Client Fiduciary Advisors LLC Invests $220,000 in Garmin Ltd. (NYSE:GRMN)

Key Client Fiduciary Advisors LLC bought a new stake in shares of Garmin Ltd. (NYSE:GRMN) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,480 shares of the scientific and technical instruments company’s stock, valued at approximately $220,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Pacer Advisors Inc. raised its holdings in Garmin by 213.5% during the fourth quarter. Pacer Advisors Inc. now owns 41,557 shares of the scientific and technical instruments company’s stock valued at $5,342,000 after acquiring an additional 28,301 shares during the period. Peterson Wealth Services bought a new stake in shares of Garmin in the fourth quarter worth about $2,365,000. Envestnet Asset Management Inc. increased its holdings in shares of Garmin by 42.7% in the third quarter. Envestnet Asset Management Inc. now owns 125,389 shares of the scientific and technical instruments company’s stock worth $13,191,000 after purchasing an additional 37,532 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Garmin in the fourth quarter worth about $8,691,000. Finally, Natixis Advisors L.P. increased its holdings in shares of Garmin by 30.0% in the fourth quarter. Natixis Advisors L.P. now owns 30,041 shares of the scientific and technical instruments company’s stock worth $3,861,000 after purchasing an additional 6,939 shares during the last quarter. 73.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Garmin

In other Garmin news, EVP Patrick Desbois sold 4,126 shares of the stock in a transaction dated 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 approximately $9,551,530.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, 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 transaction of $674,683.52. Following the completion of the sale, the executive vice president now owns 58,412 shares in the company, valued at approximately $9,551,530.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $379,830.50. Following the sale, the chief financial officer now owns 28,010 shares of the company’s stock, valued at approximately $4,527,256.30. The disclosure for this sale can be found here. 19.54% of the stock is owned by insiders.

Garmin Stock Up 0.6 %

GRMN stock opened at $162.10 on Friday. The company’s 50-day simple moving average is $161.09 and its 200-day simple moving average is $142.74. Garmin Ltd. has a 52-week low of $99.61 and a 52-week high of $171.64. The firm has a market cap of $31.14 billion, a P/E ratio of 22.86, a PEG ratio of 3.47 and a beta of 0.98.

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

Garmin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Friday, March 14th. Garmin’s dividend payout ratio is presently 42.31%.

Analysts Set New Price Targets

A number of brokerages recently commented on GRMN. StockNews.com raised shares of Garmin from a “hold” rating to a “buy” rating in a research note on Tuesday. Tigress Financial upped their price target on Garmin from $175.00 to $210.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, May 14th. Bank of America downgraded Garmin from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $165.00 to $150.00 in a research report on Wednesday, May 22nd. Barclays upped their price target on Garmin from $140.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. upped their price target on Garmin from $155.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $156.83.

About Garmin

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.