Assenagon Asset Management S.A. Has $2.45 Million Stock Holdings in Garmin Ltd. (NYSE:GRMN)

Assenagon Asset Management S.A. lessened its stake in shares of Garmin Ltd. (NYSE:GRMNFree Report) by 54.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,450 shares of the scientific and technical instruments company’s stock after selling 19,657 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Garmin were worth $2,449,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of GRMN. Massmutual Trust Co. FSB ADV lifted its stake in Garmin by 17.6% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 542 shares of the scientific and technical instruments company’s stock valued at $81,000 after acquiring an additional 81 shares in the last quarter. 1620 Investment Advisors Inc. grew its position in Garmin by 4.0% in the fourth quarter. 1620 Investment Advisors Inc. now owns 2,168 shares of the scientific and technical instruments company’s stock worth $279,000 after acquiring an additional 84 shares in the last quarter. Greenleaf Trust grew its position in Garmin by 2.5% during the fourth quarter. Greenleaf Trust now owns 3,518 shares of the scientific and technical instruments company’s stock valued at $452,000 after acquiring an additional 87 shares during the last quarter. Insight Folios Inc increased its holdings in shares of Garmin by 3.5% in the first quarter. Insight Folios Inc now owns 2,768 shares of the scientific and technical instruments company’s stock worth $412,000 after buying an additional 93 shares during the period. Finally, First Trust Direct Indexing L.P. increased its stake in Garmin by 1.4% in the 4th quarter. First Trust Direct Indexing L.P. now owns 7,189 shares of the scientific and technical instruments company’s stock worth $924,000 after purchasing an additional 96 shares during the period. Institutional investors and hedge funds own 73.41% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. JPMorgan Chase & Co. upped their price target on Garmin from $155.00 to $175.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. StockNews.com cut Garmin from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. Bank of America raised their target price on Garmin from $120.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Tigress Financial lifted their target price on shares of Garmin from $175.00 to $210.00 and gave the company a “strong-buy” rating in a research note on Tuesday, May 14th. Finally, Barrington Research lifted their price target on shares of Garmin from $119.00 to $140.00 and gave the company an “equal weight” rating in a report on Thursday, February 22nd. Six research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $159.33.

Get Our Latest Report on GRMN

Garmin Stock Performance

Shares of GRMN stock traded up $0.50 on Tuesday, hitting $170.69. 510,056 shares of the stock traded hands, compared to its average volume of 917,528. Garmin Ltd. has a twelve month low of $99.61 and a twelve month high of $171.64. The stock has a market capitalization of $32.79 billion, a PE ratio of 24.00, a PEG ratio of 5.47 and a beta of 0.99. The firm’s 50-day moving average price is $151.94 and its two-hundred day moving average price is $134.68.

Garmin (NYSE:GRMNGet Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The scientific and technical instruments company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.00 by $0.42. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Garmin had a net margin of 24.96% and a return on equity of 17.26%. The firm’s revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.02 EPS. On average, equities research analysts anticipate that Garmin Ltd. will post 5.58 EPS for the current fiscal year.

Garmin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 17th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $3.00 annualized dividend and a yield of 1.76%. Garmin’s dividend payout ratio is currently 41.18%.

Insider Transactions at Garmin

In other news, VP Susan Lyman sold 2,587 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $135.18, for a total value of $349,710.66. Following the completion of the transaction, the vice president now owns 7,174 shares in the company, valued at $969,781.32. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Garmin news, Director Jonathan Burrell sold 15,000 shares of Garmin stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $140.00, for a total transaction of $2,100,000.00. Following the transaction, the director now directly owns 758,834 shares of the company’s stock, valued at $106,236,760. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Susan Lyman sold 2,587 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $135.18, for a total value of $349,710.66. Following the completion of the sale, the vice president now directly owns 7,174 shares of the company’s stock, valued at approximately $969,781.32. The disclosure for this sale can be found here. Insiders have sold a total of 99,476 shares of company stock worth $14,166,944 over the last ninety days. 19.54% of the stock is currently owned by company insiders.

Garmin Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Garmin (NYSE:GRMN)

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