Garmin Ltd. (NYSE:GRMN) Shares Bought by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. grew its holdings in Garmin Ltd. (NYSE:GRMN) by 9.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,986 shares of the scientific and technical instruments company’s stock after acquiring an additional 268 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Garmin were worth $648,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GRMN. Golden State Wealth Management LLC purchased a new position in Garmin during the fourth quarter worth approximately $26,000. Aster Capital Management DIFC Ltd increased its position in shares of 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 worth $28,000 after purchasing an additional 121 shares in the last quarter. SOA Wealth Advisors LLC. purchased a new position in Garmin in the 4th quarter worth approximately $37,000. Kentucky Trust Co purchased a new stake in Garmin in the 4th quarter valued at $41,000. Finally, Venturi Wealth Management LLC raised its position in shares of Garmin by 67.7% during the 4th quarter. Venturi Wealth Management LLC now owns 208 shares of the scientific and technical instruments company’s stock valued at $43,000 after buying an additional 84 shares during the period. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Garmin Stock Performance

Shares of NYSE GRMN opened at $207.50 on Friday. The firm has a market cap of $39.95 billion, a P/E ratio of 28.39, a PEG ratio of 1.36 and a beta of 0.98. The stock has a fifty day moving average price of $195.40 and a two-hundred day moving average price of $208.06. Garmin Ltd. has a 1 year low of $158.38 and a 1 year high of $246.50.

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

Garmin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 16th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.73%. Garmin’s dividend payout ratio (DPR) is currently 47.37%.

Analyst Ratings Changes

GRMN has been the topic of several recent research reports. Barclays cut their target price 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 target price on shares of Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. reduced their price objective on Garmin from $220.00 to $215.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. Finally, Morgan Stanley boosted their price objective on shares of Garmin from $159.00 to $172.00 and gave the company an “underweight” rating in a research report on Thursday, May 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Garmin currently has an average rating of “Hold” and a consensus target price of $206.00.

Insiders Place Their Bets

In related news, VP Susan Lyman sold 2,829 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $215.51, for a total transaction 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. This trade represents a 25.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 15.38% of the company’s stock.

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.