Nissay Asset Management Corp Japan ADV Sells 748 Shares of Garmin Ltd. (NYSE:GRMN)

Nissay Asset Management Corp Japan ADV cut its holdings in Garmin Ltd. (NYSE:GRMN) by 3.6% during the fourth quarter, HoldingsChannel reports. The firm owned 19,945 shares of the scientific and technical instruments company’s stock after selling 748 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Garmin were worth $4,176,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in GRMN. Golden State Wealth Management LLC bought a new position in Garmin during the fourth quarter valued at about $26,000. Aster Capital Management DIFC Ltd increased its stake in Garmin by 864.3% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company’s stock valued at $28,000 after acquiring an additional 121 shares during the period. Pinnacle Bancorp Inc. bought a new position in Garmin during the fourth quarter valued at about $29,000. SOA Wealth Advisors LLC. bought a new position in Garmin during the fourth quarter valued at about $37,000. Finally, Kentucky Trust Co bought a new position in Garmin during the fourth quarter valued at about $41,000. 81.60% of the stock is currently owned by institutional investors.

Insider Transactions at Garmin

In other news, VP Susan Lyman sold 2,829 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $215.51, for a total value of $609,677.79. Following the transaction, the vice president now directly owns 8,432 shares of the company’s stock, valued at $1,817,180.32. The trade was a 25.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Patrick Desbois sold 6,911 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $227.15, for a total value of $1,569,833.65. Following the transaction, the chief operating officer now directly owns 63,048 shares in the company, valued at approximately $14,321,353.20. This represents a 9.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,342 shares of company stock valued at $5,486,094 in the last three months. 15.38% of the stock is owned by corporate insiders.

Garmin Trading Up 1.6%

GRMN stock opened at $205.11 on Friday. Garmin Ltd. has a 1-year low of $158.38 and a 1-year high of $246.50. The firm has a market cap of $39.49 billion, a P/E ratio of 28.06, a P/E/G ratio of 1.36 and a beta of 0.99. The business’s 50 day moving average is $198.41 and its 200-day moving average is $208.49.

Garmin (NYSE:GRMN) last announced its earnings results on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.01). The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.50 billion. Garmin had a return on equity of 19.31% and a net margin of 22.42%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.42 earnings per share. Sell-side analysts forecast that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Friday, March 13th. Garmin’s payout ratio is currently 47.37%.

Analyst Upgrades and Downgrades

GRMN has been the topic of several research reports. JPMorgan Chase & Co. lowered their price target on Garmin from $220.00 to $215.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Barclays lowered their price target on Garmin from $188.00 to $152.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 30th. Tigress Financial upped their price objective on Garmin from $265.00 to $285.00 and gave the company a “strong-buy” rating in a research note on Wednesday, February 26th. Finally, Morgan Stanley upped their price objective on Garmin from $159.00 to $172.00 and gave the company an “underweight” rating in a research note on Thursday, May 1st. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $194.80.

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.