Hexavest Inc. decreased its holdings in Garmin Ltd. (NASDAQ:GRMN) by 3.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 498,635 shares of the scientific and technical instruments company’s stock after selling 19,525 shares during the quarter. Hexavest Inc. owned about 0.25% of Garmin worth $48,647,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. HM Payson & Co. purchased a new position in Garmin in the second quarter valued at approximately $37,000. Quest Capital Management Inc. ADV acquired a new stake in shares of Garmin during the third quarter worth approximately $38,000. CSat Investment Advisory L.P. grew its position in shares of Garmin by 103.4% during the second quarter. CSat Investment Advisory L.P. now owns 708 shares of the scientific and technical instruments company’s stock worth $56,000 after buying an additional 360 shares in the last quarter. Bray Capital Advisors acquired a new stake in shares of Garmin during the third quarter worth approximately $68,000. Finally, Cullen Frost Bankers Inc. grew its position in shares of Garmin by 37.0% during the third quarter. Cullen Frost Bankers Inc. now owns 1,295 shares of the scientific and technical instruments company’s stock worth $110,000 after buying an additional 350 shares in the last quarter. Institutional investors and hedge funds own 45.56% of the company’s stock.
In other news, Chairman Min H. Kao sold 181,375 shares of Garmin stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $93.23, for a total transaction of $16,909,591.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Min H. Kao sold 255,436 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $94.01, for a total transaction of $24,013,538.36. The disclosure for this sale can be found here. Insiders sold 865,064 shares of company stock valued at $81,173,429 over the last ninety days. Corporate insiders own 23.83% of the company’s stock.
Shares of NASDAQ GRMN traded up $0.93 during trading hours on Thursday, hitting $98.12. The stock had a trading volume of 7,464 shares, compared to its average volume of 666,011. The company has a market capitalization of $19.36 billion, a P/E ratio of 26.51, a P/E/G ratio of 3.10 and a beta of 0.89. The firm’s 50-day moving average price is $97.55 and its two-hundred day moving average price is $87.72. Garmin Ltd. has a 52 week low of $66.09 and a 52 week high of $99.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.93 and a current ratio of 2.64.
Garmin (NASDAQ:GRMN) last issued its quarterly earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.32. Garmin had a return on equity of 18.73% and a net margin of 21.79%. The company had revenue of $934.38 million during the quarter, compared to analyst estimates of $869.02 million. During the same period in the previous year, the company earned $1.00 earnings per share. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. As a group, analysts expect that Garmin Ltd. will post 4.16 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Friday, March 13th. Garmin’s payout ratio is currently 61.79%.
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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