Outlook Wealth Advisors LLC Buys 487 Shares of Garmin Ltd. (NYSE:GRMN)

Outlook Wealth Advisors LLC increased its position in shares of Garmin Ltd. (NYSE:GRMN) by 25.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,366 shares of the scientific and technical instruments company’s stock after purchasing an additional 487 shares during the quarter. Outlook Wealth Advisors LLC’s holdings in Garmin were worth $352,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in GRMN. CWM LLC grew its position in Garmin by 4.6% during the 3rd quarter. CWM LLC now owns 3,860 shares of the scientific and technical instruments company’s stock worth $406,000 after acquiring an additional 171 shares during the last quarter. Avior Wealth Management LLC raised its holdings in shares of Garmin by 169.5% in the third quarter. Avior Wealth Management LLC now owns 283 shares of the scientific and technical instruments company’s stock valued at $30,000 after buying an additional 178 shares during the last quarter. Greenwood Capital Associates LLC bought a new position in shares of Garmin in the third quarter valued at about $1,004,000. Czech National Bank lifted its position in Garmin by 47.8% during the 3rd quarter. Czech National Bank now owns 26,769 shares of the scientific and technical instruments company’s stock worth $2,816,000 after buying an additional 8,654 shares in the last quarter. Finally, Nova R Wealth Inc. grew its holdings in Garmin by 1.8% during the 3rd quarter. Nova R Wealth Inc. now owns 12,494 shares of the scientific and technical instruments company’s stock worth $1,314,000 after acquiring an additional 223 shares during the last quarter. Institutional investors and hedge funds own 73.41% of the company’s stock.

Insider Transactions at Garmin

In related news, CEO Clifton A. Pemble sold 1,622 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $134.19, for a total value of $217,656.18. Following the completion of the transaction, the chief executive officer now directly owns 159,319 shares of the company’s stock, valued at approximately $21,379,016.61. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Clifton A. Pemble sold 1,622 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $134.19, for a total transaction of $217,656.18. Following the completion of the transaction, the chief executive officer now owns 159,319 shares in the company, valued at $21,379,016.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Douglas G. Boessen sold 5,267 shares of Garmin stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $134.56, for a total transaction of $708,727.52. Following the completion of the sale, the chief financial officer now owns 30,360 shares in the company, valued at $4,085,241.60. The disclosure for this sale can be found here. Insiders sold 99,476 shares of company stock valued at $14,166,944 over the last quarter. Corporate insiders own 19.89% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Garmin from $139.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. StockNews.com raised Garmin from a “hold” rating to a “buy” rating in a research note on Tuesday. Barrington Research lifted their price objective on Garmin from $119.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 22nd. Tigress Financial reaffirmed a “strong-buy” rating and issued a $175.00 target price (up previously from $165.00) on shares of Garmin in a research note on Tuesday, February 27th. Finally, Bank of America increased their price objective on shares of Garmin from $120.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $142.33.

Garmin Stock Up 0.3 %

Garmin stock traded up $0.42 during mid-day trading on Friday, hitting $143.45. 625,349 shares of the company’s stock were exchanged, compared to its average volume of 770,905. The company’s 50 day simple moving average is $142.51 and its 200-day simple moving average is $127.57. The firm has a market capitalization of $27.55 billion, a P/E ratio of 21.38, a PEG ratio of 4.69 and a beta of 0.98. Garmin Ltd. has a fifty-two week low of $95.40 and a fifty-two week high of $149.54.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, February 21st. The scientific and technical instruments company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.32. Garmin had a return on equity of 16.60% and a net margin of 24.67%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the prior year, the company earned $1.35 earnings per share. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. Research analysts expect that Garmin Ltd. will post 5.45 EPS for the current year.

Garmin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Friday, December 13th. Garmin’s dividend payout ratio (DPR) is presently 43.52%.

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.