Rothschild Investment LLC Makes New $107,000 Investment in Garmin Ltd. (NYSE:GRMN)

Rothschild Investment LLC bought a new position in shares of Garmin Ltd. (NYSE:GRMN) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 659 shares of the scientific and technical instruments company’s stock, valued at approximately $107,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Clearstead Trust LLC bought a new stake in shares of Garmin in the 1st quarter valued at about $30,000. Frazier Financial Advisors LLC bought a new stake in shares of Garmin in the 4th quarter valued at about $33,000. Family Firm Inc. bought a new stake in shares of Garmin in the 2nd quarter valued at about $35,000. EdgeRock Capital LLC bought a new stake in shares of Garmin in the 4th quarter valued at about $53,000. Finally, West Oak Capital LLC bought a new stake in shares of Garmin in the 2nd quarter valued at about $53,000. 73.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GRMN has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of Garmin from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Bank of America cut shares of Garmin from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $165.00 to $150.00 in a research note on Wednesday, May 22nd. Finally, Tigress Financial lifted their target price on shares of Garmin from $175.00 to $210.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, May 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Garmin currently has a consensus rating of “Hold” and a consensus target price of $156.83.

Garmin Trading Down 1.8 %

GRMN opened at $179.94 on Wednesday. Garmin Ltd. has a 12-month low of $99.61 and a 12-month high of $183.88. The firm has a market capitalization of $34.56 billion, a PE ratio of 25.38, a P/E/G ratio of 3.17 and a beta of 0.98. The firm has a 50 day moving average of $170.40 and a two-hundred day moving average of $158.35.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.18. Garmin had a net margin of 24.36% and a return on equity of 17.09%. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the firm posted $1.45 EPS. Garmin’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, analysts predict that Garmin Ltd. will post 6.05 EPS for the current fiscal year.

Garmin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Friday, March 14th. Garmin’s dividend payout ratio (DPR) is 42.31%.

Insider Activity

In other news, insider Cheng-Wei Wang sold 10,055 shares of Garmin stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the completion of the transaction, the insider now directly owns 40,965 shares of the company’s stock, valued at approximately $7,257,359.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Cheng-Wei Wang sold 10,055 shares of Garmin stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the completion of the transaction, the insider now directly owns 40,965 shares of the company’s stock, valued at approximately $7,257,359.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Douglas G. Boessen sold 2,350 shares of Garmin stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $161.63, for a total transaction of $379,830.50. Following the transaction, the chief financial officer now directly owns 28,010 shares of the company’s stock, valued at $4,527,256.30. The disclosure for this sale can be found here. Insiders sold a total of 12,492 shares of company stock valued at $2,176,989 in the last three months. 19.54% of the stock is currently owned by corporate insiders.

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.