Garmin Ltd. (NYSE:GRMN) Shares Bought by iA Global Asset Management Inc.

iA Global Asset Management Inc. lifted its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 26.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,485 shares of the scientific and technical instruments company’s stock after buying an additional 2,591 shares during the period. iA Global Asset Management Inc.’s holdings in Garmin were worth $2,034,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Dorsey & Whitney Trust CO LLC raised its stake in shares of Garmin by 3.3% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 2,309 shares of the scientific and technical instruments company’s stock worth $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% during the 2nd quarter. UMB Bank n.a. now owns 2,879 shares of the scientific and technical instruments company’s stock worth $469,000 after buying an additional 74 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its stake in 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 purchasing an additional 81 shares in the last quarter. 1620 Investment Advisors Inc. increased its stake in 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 purchasing an additional 84 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in 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 purchasing an additional 86 shares in the last quarter. 73.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Garmin

In other news, EVP Patrick Desbois sold 4,126 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $163.52, for a total transaction of $674,683.52. Following the sale, the executive vice president now owns 58,412 shares in the company, valued at $9,551,530.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Patrick Desbois sold 4,126 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $163.52, for a total transaction of $674,683.52. Following the sale, the executive vice president now owns 58,412 shares in the company, valued at $9,551,530.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cheng-Wei Wang sold 10,055 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total value of $1,781,343.80. Following the sale, the insider now owns 40,965 shares in the company, valued at approximately $7,257,359.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,618 shares of company stock worth $2,851,673. 19.54% of the stock is owned by insiders.

Garmin Stock Performance

Shares of NYSE:GRMN opened at $183.29 on Friday. The business’s fifty day moving average price is $169.98 and its two-hundred day moving average price is $157.69. The stock has a market cap of $35.21 billion, a PE ratio of 25.85, a price-to-earnings-growth ratio of 3.55 and a beta of 0.98. Garmin Ltd. has a one year low of $99.61 and a one year high of $183.88.

Garmin (NYSE:GRMN) last announced its earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.18. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Garmin had a return on equity of 17.09% and a net margin of 24.36%. Garmin’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.45 EPS. As a group, equities research analysts predict that Garmin Ltd. will post 6 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Friday, March 14th. Garmin’s dividend payout ratio (DPR) is presently 42.31%.

Analyst Ratings Changes

Several research firms recently weighed in on GRMN. StockNews.com raised Garmin from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Tigress Financial raised their price objective on Garmin from $175.00 to $210.00 and gave the company a “strong-buy” rating in a research note on Tuesday, May 14th. Finally, Bank of America downgraded Garmin from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $165.00 to $150.00 in a research note on Wednesday, May 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $156.83.

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.