NewSquare Capital LLC Grows Position in Garmin Ltd. (NYSE:GRMN)

NewSquare Capital LLC grew its stake in shares of Garmin Ltd. (NYSE:GRMN) by 0.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 33,415 shares of the scientific and technical instruments company’s stock after purchasing an additional 226 shares during the period. NewSquare Capital LLC’s holdings in Garmin were worth $4,237,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Wetzel Investment Advisors Inc. acquired a new position in shares of Garmin during the 4th quarter valued at $26,000. Avior Wealth Management LLC boosted its position in shares of Garmin by 169.5% in the third quarter. Avior Wealth Management LLC now owns 283 shares of the scientific and technical instruments company’s stock worth $30,000 after buying an additional 178 shares during the period. Headinvest LLC purchased a new stake in shares of Garmin during the 3rd quarter valued at about $41,000. Blue Trust Inc. lifted its position in Garmin by 35.2% during the 4th quarter. Blue Trust Inc. now owns 380 shares of the scientific and technical instruments company’s stock worth $49,000 after acquiring an additional 99 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in Garmin during the 4th quarter worth $51,000. 73.41% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Garmin

In related news, Director Jonathan Burrell sold 15,000 shares of Garmin stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $140.00, for a total value of $2,100,000.00. Following the transaction, the director now owns 758,834 shares of the company’s stock, valued at approximately $106,236,760. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Garmin news, CEO Clifton A. Pemble sold 1,622 shares of Garmin stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $134.19, for a total transaction of $217,656.18. Following the transaction, the chief executive officer now directly owns 159,319 shares in the company, valued at approximately $21,379,016.61. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jonathan Burrell sold 15,000 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $140.00, for a total transaction of $2,100,000.00. Following the sale, the director now directly owns 758,834 shares in the company, valued at $106,236,760. The disclosure for this sale can be found here. Insiders sold a total of 99,476 shares of company stock valued at $14,166,944 in the last three months. 19.89% of the stock is currently owned by corporate insiders.

Garmin Trading Up 0.3 %

NYSE:GRMN traded up $0.40 during mid-day trading on Wednesday, reaching $142.91. 241,750 shares of the stock were exchanged, compared to its average volume of 939,326. Garmin Ltd. has a 1-year low of $94.89 and a 1-year high of $149.54. The firm has a market capitalization of $27.41 billion, a PE ratio of 21.30, a PEG ratio of 4.62 and a beta of 0.98. The business has a fifty day moving average price of $141.30 and a 200 day moving average price of $127.10.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, February 21st. The scientific and technical instruments company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.32. Garmin had a net margin of 24.67% and a return on equity of 16.60%. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the company posted $1.35 EPS. The business’s revenue was up 13.3% compared to the same quarter last year. On average, sell-side analysts forecast that Garmin Ltd. will post 5.45 earnings per share for the current year.

Garmin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, December 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.10%. Garmin’s dividend payout ratio (DPR) is presently 44.71%.

Analyst Ratings Changes

A number of research firms have recently weighed in on GRMN. Tigress Financial reissued a “strong-buy” rating and set a $175.00 price target (up previously from $165.00) on shares of Garmin in a research report on Tuesday, February 27th. StockNews.com upgraded Garmin from a “hold” rating to a “buy” rating in a report on Tuesday. Bank of America increased their target price on shares of Garmin from $120.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Barrington Research raised their target price on shares of Garmin from $119.00 to $140.00 and gave the stock an “equal weight” rating in a report on Thursday, February 22nd. Finally, JPMorgan Chase & Co. increased their price target on Garmin from $139.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $142.33.

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.