Mutual of America Capital Management LLC Sells 420 Shares of Garmin Ltd. (NYSE:GRMN)

Mutual of America Capital Management LLC cut its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 2.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,081 shares of the scientific and technical instruments company’s stock after selling 420 shares during the period. Mutual of America Capital Management LLC’s holdings in Garmin were worth $2,989,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Artisan Partners Limited Partnership boosted its position in Garmin by 0.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 7,310,112 shares of the scientific and technical instruments company’s stock valued at $939,642,000 after buying an additional 63,278 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Garmin by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,715,703 shares of the scientific and technical instruments company’s stock valued at $220,541,000 after buying an additional 45,242 shares during the last quarter. Wells Fargo & Company MN boosted its position in Garmin by 4.4% in the 4th quarter. Wells Fargo & Company MN now owns 1,291,589 shares of the scientific and technical instruments company’s stock valued at $166,021,000 after buying an additional 54,001 shares during the last quarter. California Public Employees Retirement System boosted its position in Garmin by 0.7% in the 4th quarter. California Public Employees Retirement System now owns 932,299 shares of the scientific and technical instruments company’s stock valued at $119,838,000 after buying an additional 6,858 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Garmin by 28.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 862,527 shares of the scientific and technical instruments company’s stock valued at $110,869,000 after buying an additional 190,739 shares during the last quarter. 73.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the company. StockNews.com upgraded Garmin from a “hold” rating to a “buy” rating in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. increased their price target on Garmin from $155.00 to $175.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Barclays increased their price target on Garmin from $140.00 to $166.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Tigress Financial increased their price target on Garmin from $175.00 to $210.00 and gave the company a “strong-buy” rating in a research note on Tuesday, May 14th. Finally, Bank of America downgraded Garmin from a “neutral” rating to an “underperform” rating and cut their price target for the company from $165.00 to $150.00 in a research note on Wednesday, May 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $156.83.

Garmin Trading Up 1.3 %

Shares of Garmin stock opened at $168.97 on Friday. The company has a market capitalization of $32.46 billion, a PE ratio of 23.83, a PEG ratio of 3.52 and a beta of 0.98. Garmin Ltd. has a 12 month low of $99.61 and a 12 month high of $171.64. The stock’s fifty day simple moving average is $164.19 and its 200 day simple moving average is $145.52.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, May 1st. The scientific and technical instruments company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.00 by $0.42. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.25 billion. Garmin had a return on equity of 17.26% and a net margin of 24.96%. The firm’s revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.02 EPS. Analysts predict that Garmin Ltd. will post 5.77 EPS for the current fiscal year.

Garmin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Friday, March 14th. Garmin’s dividend payout ratio (DPR) is presently 42.31%.

Insiders Place Their Bets

In other Garmin news, EVP Patrick Desbois sold 4,126 shares of the stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $163.52, for a total transaction of $674,683.52. Following the completion of the transaction, the executive vice president now owns 58,412 shares in the company, valued at approximately $9,551,530.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Patrick Desbois sold 4,126 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $163.52, for a total value of $674,683.52. Following the completion of the transaction, the executive vice president now owns 58,412 shares in the company, valued at approximately $9,551,530.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Douglas G. Boessen sold 2,350 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $161.63, for a total value of $379,830.50. Following the completion of the transaction, the chief financial officer now owns 28,010 shares of the company’s stock, valued at approximately $4,527,256.30. The disclosure for this sale can be found here. Corporate insiders own 19.54% of the company’s stock.

About Garmin

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.