Sivia Capital Partners LLC Makes New Investment in Garmin Ltd. (NYSE:GRMN)

Sivia Capital Partners LLC bought a new position in Garmin Ltd. (NYSE:GRMN) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,420 shares of the scientific and technical instruments company’s stock, valued at approximately $308,000.

Other hedge funds have also added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new position in Garmin in the fourth quarter worth approximately $26,000. Aster Capital Management DIFC Ltd grew its position in shares of Garmin by 864.3% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company’s stock worth $28,000 after buying an additional 121 shares in the last quarter. SOA Wealth Advisors LLC. bought a new position in shares of Garmin during the 4th quarter worth $37,000. Kentucky Trust Co bought a new position in shares of Garmin during the 4th quarter worth $41,000. Finally, Venturi Wealth Management LLC grew 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 worth $43,000 after buying an additional 84 shares in the last quarter. 81.60% of the stock is currently owned by institutional investors.

Garmin Price Performance

Shares of GRMN stock opened at $207.50 on Monday. Garmin Ltd. has a 1-year low of $158.38 and a 1-year high of $246.50. The stock’s 50-day moving average is $195.40 and its 200 day moving average is $208.06. The company 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.

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 for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.01). Garmin had a net margin of 22.42% and a return on equity of 19.31%. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the business posted $1.42 earnings per share. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. On average, analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Announces Dividend

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

Analyst Ratings Changes

Several brokerages have issued reports on GRMN. Barclays dropped their target price on shares of Garmin from $188.00 to $152.00 and set an “underweight” rating on the stock in a report on Wednesday, April 30th. JPMorgan Chase & Co. dropped their price objective on shares of Garmin from $220.00 to $215.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Tigress Financial increased their price objective 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, Morgan Stanley increased their price objective 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. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Garmin currently has a consensus rating of “Hold” and a consensus target price of $206.00.

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.