Garmin Ltd. (NYSE:GRMN) Shares Sold by TD Private Client Wealth LLC

TD Private Client Wealth LLC reduced its position in Garmin Ltd. (NYSE:GRMN) by 70.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 550 shares of the scientific and technical instruments company’s stock after selling 1,309 shares during the quarter. TD Private Client Wealth LLC’s holdings in Garmin were worth $113,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new stake in shares of Garmin in the fourth quarter valued at approximately $26,000. Pinnacle Bancorp Inc. purchased a new stake in shares of Garmin during the 4th quarter worth $29,000. Larson Financial Group LLC boosted its position in shares of Garmin by 578.6% during the 3rd quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 162 shares in the last quarter. SOA Wealth Advisors LLC. acquired a new position in shares of Garmin during the 4th quarter worth $37,000. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of Garmin in the 3rd quarter valued at about $39,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on GRMN. Barclays boosted their price objective on shares of Garmin from $158.00 to $188.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Morgan Stanley raised Garmin to a “sell” rating and raised their price objective for the company from $164.00 to $171.00 in a research note on Tuesday, February 11th. JPMorgan Chase & Co. boosted their target price on Garmin from $219.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Finally, Tigress Financial raised their price target on Garmin from $265.00 to $285.00 and gave the company a “strong-buy” rating in a research report on Wednesday, February 26th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a strong buy rating to the company. According to MarketBeat.com, Garmin currently has an average rating of “Hold” and a consensus price target of $210.80.

Garmin Stock Performance

GRMN stock opened at $218.47 on Wednesday. The stock’s 50 day moving average price is $217.23 and its 200 day moving average price is $202.32. The firm has a market cap of $42.03 billion, a P/E ratio of 29.89, a PEG ratio of 1.36 and a beta of 0.96. Garmin Ltd. has a 1 year low of $138.86 and a 1 year high of $246.50.

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

Garmin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders 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 1.65%. Garmin’s dividend payout ratio (DPR) is presently 49.25%.

Insiders Place Their Bets

In other news, CEO Clifton A. Pemble sold 7,202 shares of the company’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 completion of the transaction, the chief executive officer now owns 149,525 shares of the company’s stock, valued at $33,963,108.50. This represents a 4.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Patrick Desbois sold 6,911 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $227.15, for a total transaction of $1,569,833.65. Following the completion of the sale, the chief operating officer now directly owns 63,048 shares in the company, valued at $14,321,353.20. This represents a 9.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,342 shares of company stock valued at $5,486,094 in the last quarter. 19.54% of the stock is currently owned by company insiders.

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.