Sherbrooke Park Advisers LLC Has $629,000 Holdings in Garmin Ltd. (NYSE:GRMN)

Sherbrooke Park Advisers LLC cut its holdings in Garmin Ltd. (NYSE:GRMN) by 16.1% during the 4th quarter, HoldingsChannel reports. The fund owned 3,051 shares of the scientific and technical instruments company’s stock after selling 584 shares during the quarter. Sherbrooke Park Advisers LLC’s holdings in Garmin were worth $629,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of GRMN. Montrusco Bolton Investments Inc. grew its stake in Garmin by 42.5% during the fourth quarter. Montrusco Bolton Investments Inc. now owns 431,188 shares of the scientific and technical instruments company’s stock worth $88,937,000 after buying an additional 128,672 shares in the last quarter. Baskin Financial Services Inc. boosted its stake in shares of Garmin by 3.2% in the 4th quarter. Baskin Financial Services Inc. now owns 148,957 shares of the scientific and technical instruments company’s stock valued at $30,724,000 after purchasing an additional 4,616 shares in the last quarter. Savant Capital LLC boosted its stake in shares of Garmin by 47.2% in the 4th quarter. Savant Capital LLC now owns 9,075 shares of the scientific and technical instruments company’s stock valued at $1,872,000 after purchasing an additional 2,910 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Garmin in the 4th quarter valued at approximately $127,000. Finally, BankPlus Wealth Management LLC acquired a new stake in shares of Garmin in the 4th quarter valued at approximately $668,000. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on GRMN shares. Morgan Stanley raised their price target on shares of Garmin from $159.00 to $172.00 and gave the company an “underweight” rating in a research note on Thursday, May 1st. Barclays reduced their price target on shares of 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 raised their price target on shares of Garmin from $265.00 to $285.00 and gave the company a “strong-buy” rating in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. cut their target price on shares of Garmin from $220.00 to $215.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Three equities research 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, Garmin has an average rating of “Hold” and a consensus target price of $194.80.

Garmin Price Performance

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

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

Garmin Announces Dividend

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

Insiders Place Their Bets

In other news, VP Susan Lyman sold 2,829 shares of Garmin stock in a transaction on Monday, March 10th. The shares were sold at an average price of $215.51, for a total value of $609,677.79. Following the completion of the sale, the vice president now owns 8,432 shares in the company, valued at $1,817,180.32. The trade was a 25.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Clifton A. Pemble sold 7,202 shares of Garmin stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $227.14, for a total transaction of $1,635,862.28. Following the completion of the sale, the chief executive officer now owns 149,525 shares of the company’s stock, valued at $33,963,108.50. This represents a 4.60% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,342 shares of company stock worth $5,486,094. 15.38% of the stock is currently owned by insiders.

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.