Eagle Ridge Investment Management Has $11.17 Million Stock Holdings in Garmin Ltd. (NYSE:GRMN)

Eagle Ridge Investment Management boosted its stake in Garmin Ltd. (NYSE:GRMN) by 0.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 86,870 shares of the scientific and technical instruments company’s stock after purchasing an additional 114 shares during the quarter. Eagle Ridge Investment Management’s holdings in Garmin were worth $11,166,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Wetzel Investment Advisors Inc. acquired a new position in shares of Garmin during the fourth quarter valued at about $26,000. Headinvest LLC acquired a new position in shares of Garmin during the third quarter valued at about $41,000. Blue Trust Inc. grew its holdings in shares of Garmin by 35.2% during the fourth quarter. Blue Trust Inc. now owns 380 shares of the scientific and technical instruments company’s stock valued at $49,000 after buying an additional 99 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Garmin during the fourth quarter valued at about $51,000. Finally, NBC Securities Inc. acquired a new position in shares of Garmin during the third quarter valued at about $57,000. 73.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on GRMN. Barrington Research boosted their price target 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. Tigress Financial restated a “strong-buy” rating and set a $175.00 price target (up from $165.00) on shares of Garmin in a report on Tuesday, February 27th. Bank of America boosted their price target on shares of Garmin from $120.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. StockNews.com upgraded shares of Garmin from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Garmin from $139.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Five research 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 company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $142.33.

Garmin Stock Performance

GRMN traded up $0.93 during trading on Monday, reaching $144.38. The stock had a trading volume of 262,856 shares, compared to its average volume of 926,746. The stock has a market cap of $27.73 billion, a PE ratio of 21.53, a PEG ratio of 4.70 and a beta of 0.98. Garmin Ltd. has a one year low of $95.79 and a one year high of $149.54. The business has a 50-day moving average of $142.51 and a 200-day moving average of $127.85.

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, beating analysts’ consensus estimates of $1.40 by $0.32. Garmin had a return on equity of 16.60% and a net margin of 24.67%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period last year, the firm earned $1.35 earnings per share. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. Equities research analysts forecast that Garmin Ltd. will post 5.45 EPS for the current fiscal year.

Garmin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.00 annualized dividend and a dividend yield of 2.08%. Garmin’s payout ratio is presently 43.52%.

Insider Buying and Selling

In other Garmin news, Director Jonathan Burrell sold 15,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $146.15, for a total value of $2,192,250.00. Following the completion of the sale, the director now directly owns 623,834 shares in the company, valued at $91,173,339.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Clifton A. Pemble sold 1,622 shares of the firm’s 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 completion of the sale, the chief executive officer now owns 159,319 shares of the company’s stock, valued at $21,379,016.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jonathan Burrell sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $146.15, for a total transaction of $2,192,250.00. Following the sale, the director now directly owns 623,834 shares of the company’s stock, valued at approximately $91,173,339.10. The disclosure for this sale can be found here. Insiders have sold 99,476 shares of company stock valued at $14,166,944 over the last ninety days. 19.89% of the stock is owned by insiders.

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.