Silver Oak Securities Incorporated Acquires 3,848 Shares of Garmin Ltd. (NYSE:GRMN)

Silver Oak Securities Incorporated boosted its position in Garmin Ltd. (NYSE:GRMN) by 4,933.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,926 shares of the scientific and technical instruments company’s stock after buying an additional 3,848 shares during the quarter. Silver Oak Securities Incorporated’s holdings in Garmin were worth $505,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pacer Advisors Inc. grew its stake in Garmin by 213.5% in the 4th quarter. Pacer Advisors Inc. now owns 41,557 shares of the scientific and technical instruments company’s stock valued at $5,342,000 after buying an additional 28,301 shares during the last quarter. Peterson Wealth Services acquired a new stake in Garmin in the 4th quarter worth $2,365,000. Envestnet Asset Management Inc. grew its position in Garmin by 42.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 125,389 shares of the scientific and technical instruments company’s stock worth $13,191,000 after purchasing an additional 37,532 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Garmin in the 4th quarter worth $8,691,000. Finally, SteelPeak Wealth LLC grew its position in Garmin by 369.6% in the 4th quarter. SteelPeak Wealth LLC now owns 14,087 shares of the scientific and technical instruments company’s stock worth $1,811,000 after purchasing an additional 11,087 shares during the last quarter. 73.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Susan Lyman sold 2,587 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $135.18, for a total value of $349,710.66. Following the transaction, the vice president now directly owns 7,174 shares of the company’s stock, valued at $969,781.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Susan Lyman sold 2,587 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $135.18, for a total value of $349,710.66. Following the transaction, the vice president now directly owns 7,174 shares in the company, valued at $969,781.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Clifton A. Pemble sold 1,622 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 159,319 shares in the company, valued at $21,379,016.61. The disclosure for this sale can be found here. Over the last three months, insiders have sold 99,476 shares of company stock valued at $14,166,944. 19.89% of the stock is currently owned by corporate insiders.

Garmin Stock Up 1.2 %

Garmin stock opened at $145.18 on Tuesday. The stock has a market capitalization of $27.89 billion, a PE ratio of 21.64, a price-to-earnings-growth ratio of 4.70 and a beta of 0.98. Garmin Ltd. has a twelve month low of $95.79 and a twelve month high of $149.54. The company has a 50 day moving average of $142.97 and a 200-day moving average of $128.11.

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

Garmin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Friday, December 13th. Garmin’s dividend payout ratio (DPR) is currently 43.52%.

Wall Street Analyst Weigh In

Several research firms have issued reports on GRMN. Bank of America raised their price target on shares of Garmin from $120.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. lifted their target price on shares of Garmin from $139.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. StockNews.com upgraded shares of Garmin from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. Tigress Financial reiterated a “strong-buy” rating and set a $175.00 target price (up from $165.00) on shares of Garmin in a research report on Tuesday, February 27th. Finally, Barrington Research lifted their target price on shares of Garmin from $119.00 to $140.00 and gave the company an “equal weight” rating in a research report on Thursday, February 22nd. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $142.33.

Garmin Company 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.