CX Institutional Has $419,000 Stake in Garmin Ltd. (NYSE:GRMN)

CX Institutional lifted its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 5.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,929 shares of the scientific and technical instruments company’s stock after purchasing an additional 105 shares during the quarter. CX Institutional’s holdings in Garmin were worth $419,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of GRMN. Aster Capital Management DIFC Ltd raised 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 during the period. Venturi Wealth Management LLC raised its position in shares of Garmin by 67.7% during the fourth quarter. Venturi Wealth Management LLC now owns 208 shares of the scientific and technical instruments company’s stock worth $43,000 after purchasing an additional 84 shares during the period. Investment Management Corp VA ADV acquired a new stake in shares of Garmin during the fourth quarter worth about $46,000. Measured Risk Portfolios Inc. acquired a new stake in shares of Garmin during the fourth quarter worth about $47,000. Finally, Larson Financial Group LLC raised its position in shares of Garmin by 26.8% during the fourth quarter. Larson Financial Group LLC now owns 241 shares of the scientific and technical instruments company’s stock worth $50,000 after purchasing an additional 51 shares during the period. Institutional investors and hedge funds own 81.60% of the company’s stock.

Garmin Stock Down 3.5%

GRMN stock opened at $201.13 on Friday. The business has a 50 day moving average price of $197.43 and a two-hundred day moving average price of $207.94. The company has a market cap of $38.73 billion, a price-to-earnings ratio of 27.51, a P/E/G ratio of 1.36 and a beta of 0.98. Garmin Ltd. has a twelve month low of $158.38 and a twelve month high of $246.50.

Garmin (NYSE:GRMN) last posted 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). The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.50 billion. Garmin had a net margin of 22.42% and a return on equity of 19.31%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.42 earnings per share. On average, equities research analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 1.79%. Garmin’s dividend payout ratio is 47.37%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on GRMN shares. Morgan Stanley raised their price target on Garmin from $159.00 to $172.00 and gave the stock an “underweight” rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. dropped their target price on Garmin from $220.00 to $215.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Barclays dropped their target price on Garmin from $188.00 to $152.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 30th. Finally, Tigress Financial lifted their target price on Garmin from $265.00 to $285.00 and gave the company a “strong-buy” rating in a research report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat, Garmin presently has a consensus rating of “Hold” and an average price target of $206.00.

Garmin 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.