Captrust Financial Advisors grew its position in shares of Garmin Ltd. (NASDAQ:GRMN) by 4,601.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 24,212 shares of the scientific and technical instruments company’s stock after purchasing an additional 23,697 shares during the quarter. Captrust Financial Advisors’ holdings in Garmin were worth $2,381,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the company. Altshuler Shaham Ltd bought a new stake in shares of Garmin during the 4th quarter worth $26,000. Quadrant Capital Group LLC boosted its stake in shares of Garmin by 169.0% during the 4th quarter. Quadrant Capital Group LLC now owns 382 shares of the scientific and technical instruments company’s stock worth $35,000 after acquiring an additional 240 shares in the last quarter. FIL Ltd boosted its stake in shares of Garmin by 2,221.7% during the 4th quarter. FIL Ltd now owns 534 shares of the scientific and technical instruments company’s stock worth $52,000 after acquiring an additional 511 shares in the last quarter. American National Bank bought a new stake in shares of Garmin during the 4th quarter worth $54,000. Finally, IFP Advisors Inc boosted its stake in shares of Garmin by 25.6% during the 4th quarter. IFP Advisors Inc now owns 618 shares of the scientific and technical instruments company’s stock worth $60,000 after acquiring an additional 126 shares in the last quarter. Institutional investors own 47.89% of the company’s stock.
Several brokerages have recently commented on GRMN. Zacks Investment Research cut Garmin from a “buy” rating to a “hold” rating and set a $103.00 target price for the company. in a research report on Tuesday, February 18th. Tigress Financial reaffirmed a “buy” rating on shares of Garmin in a research report on Wednesday, March 4th. Morgan Stanley decreased their target price on Garmin from $100.00 to $77.00 and set an “above average” rating for the company in a research report on Wednesday. ValuEngine raised Garmin from a “sell” rating to a “hold” rating in a research report on Tuesday, March 3rd. Finally, Cfra raised their target price on Garmin from $92.00 to $104.00 and gave the stock a “hold” rating in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $97.60.
In related news, Director Matthew Munn sold 2,697 shares of Garmin stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $92.48, for a total transaction of $249,418.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph J. Hartnett acquired 650 shares of Garmin stock in a transaction that occurred on Friday, March 13th. The shares were purchased at an average cost of $74.53 per share, with a total value of $48,444.50. The disclosure for this purchase can be found here. 23.83% of the stock is currently owned by company insiders.
Shares of Garmin stock opened at $71.71 on Thursday. The stock has a market cap of $13.42 billion, a PE ratio of 14.37, a price-to-earnings-growth ratio of 2.08 and a beta of 1.00. The business has a fifty day simple moving average of $87.78 and a 200-day simple moving average of $91.76. The company has a quick ratio of 2.22, a current ratio of 2.95 and a debt-to-equity ratio of 0.01. Garmin Ltd. has a 12 month low of $61.04 and a 12 month high of $105.58.
Garmin (NASDAQ:GRMN) last issued its earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $1.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.29. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Garmin had a return on equity of 19.26% and a net margin of 25.35%. Garmin’s revenue was up 18.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.02 earnings per share. Analysts expect that Garmin Ltd. will post 4.61 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $0.61 per share. This is a boost from Garmin’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, June 12th. This represents a $2.44 dividend on an annualized basis and a yield of 3.40%. Garmin’s dividend payout ratio (DPR) is presently 51.24%.
Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices worldwide. It operates through five segments: Auto, Aviation, Marine, Outdoor, and Fitness. The Auto segment offers personal navigation devices; infotainment systems; and action cameras, as well as mobile applications under the Garmin and NAVIGON names.
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