Garmin Ltd. (NYSE:GRMN) Shares Sold by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. lowered its stake in Garmin Ltd. (NYSE:GRMN) by 43.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 47,296 shares of the scientific and technical instruments company’s stock after selling 36,073 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in Garmin were worth $9,755,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new stake in Garmin in the 4th quarter valued at $26,000. Pinnacle Bancorp Inc. acquired a new stake in Garmin in the 4th quarter valued at $29,000. Larson Financial Group LLC grew its stake in Garmin by 578.6% in the 3rd quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock valued at $33,000 after acquiring an additional 162 shares during the period. SOA Wealth Advisors LLC. acquired a new stake in Garmin during the 4th quarter worth $37,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in Garmin during the 3rd quarter worth $39,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Insider Activity at Garmin

In other Garmin news, CEO Clifton A. Pemble sold 7,202 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $227.14, for a total transaction of $1,635,862.28. Following the sale, the chief executive officer now directly owns 149,525 shares in the company, valued at $33,963,108.50. This represents a 4.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Douglas G. Boessen sold 1,761 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $207.99, for a total transaction of $366,270.39. Following the sale, the chief financial officer now owns 27,612 shares in the company, valued at $5,743,019.88. This trade represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,103 shares of company stock worth $5,852,364. Company insiders own 19.54% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Barclays lifted their target price on shares of Garmin from $158.00 to $188.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Tigress Financial lifted 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. Morgan Stanley raised shares of Garmin to a “sell” rating and lifted their target price for the stock from $164.00 to $171.00 in a research note on Tuesday, February 11th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Garmin from $219.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Garmin presently has a consensus rating of “Hold” and an average target price of $210.80.

Garmin Trading Up 2.2 %

Shares of GRMN stock opened at $214.00 on Monday. The company’s 50-day moving average price is $216.99 and its 200-day moving average price is $200.84. The stock has a market cap of $41.18 billion, a price-to-earnings ratio of 29.28, a PEG ratio of 1.36 and a beta of 0.96. Garmin Ltd. has a twelve month low of $138.86 and a twelve month high of $246.50.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.51. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Garmin had a net margin of 22.42% and a return on equity of 19.31%. The company’s revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.72 EPS. As a group, equities research analysts predict that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.60 annualized dividend and a yield of 1.68%. Garmin’s dividend payout ratio (DPR) is currently 41.04%.

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.