National Bank of Canada FI Has $2.05 Million Stock Holdings in Garmin Ltd. (NYSE:GRMN)

National Bank of Canada FI decreased its holdings in Garmin Ltd. (NYSE:GRMN) by 14.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,701 shares of the scientific and technical instruments company’s stock after selling 2,132 shares during the quarter. National Bank of Canada FI’s holdings in Garmin were worth $2,046,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Dorsey & Whitney Trust CO LLC raised its stake in shares of Garmin by 3.3% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 2,309 shares of the scientific and technical instruments company’s stock valued at $344,000 after buying an additional 73 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Garmin by 2.6% in the 2nd quarter. UMB Bank n.a. now owns 2,879 shares of the scientific and technical instruments company’s stock valued at $469,000 after buying an additional 74 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of Garmin by 17.6% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 542 shares of the scientific and technical instruments company’s stock valued at $81,000 after buying an additional 81 shares in the last quarter. 1620 Investment Advisors Inc. raised its stake in shares of Garmin by 4.0% in the 4th quarter. 1620 Investment Advisors Inc. now owns 2,168 shares of the scientific and technical instruments company’s stock valued at $279,000 after buying an additional 84 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in shares of Garmin by 3.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,629 shares of the scientific and technical instruments company’s stock valued at $428,000 after buying an additional 86 shares in the last quarter. Institutional investors and hedge funds own 73.41% of the company’s stock.

Insider Buying and Selling at Garmin

In other news, insider Cheng-Wei Wang sold 10,055 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total value of $1,781,343.80. Following the transaction, the insider now owns 40,965 shares of the company’s stock, valued at approximately $7,257,359.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Cheng-Wei Wang sold 10,055 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total value of $1,781,343.80. Following the transaction, the insider now owns 40,965 shares of the company’s stock, valued at approximately $7,257,359.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Philip Straub sold 2,750 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $181.46, for a total transaction of $499,015.00. Following the completion of the transaction, the director now directly owns 88,622 shares in the company, valued at approximately $16,081,348.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,892 shares of company stock worth $2,296,174. 19.54% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on GRMN shares. StockNews.com cut shares of Garmin from a “buy” rating to a “hold” rating in a research note on Thursday. Bank of America cut shares of Garmin from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $165.00 to $150.00 in a research report on Wednesday, May 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $156.83.

Garmin Stock Up 1.3 %

Shares of Garmin stock opened at $182.85 on Thursday. The stock has a market capitalization of $35.15 billion, a P/E ratio of 25.79, a price-to-earnings-growth ratio of 3.12 and a beta of 1.00. The company has a 50-day simple moving average of $173.15 and a 200 day simple moving average of $160.72. Garmin Ltd. has a 12-month low of $99.61 and a 12-month high of $184.42.

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

Garmin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.64%. The ex-dividend date is Friday, March 14th. Garmin’s payout ratio is presently 42.31%.

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.