Fidelis Capital Partners LLC Purchases Shares of 1,181 Garmin Ltd. (NYSE:GRMN)

Fidelis Capital Partners LLC purchased a new stake in shares of Garmin Ltd. (NYSE:GRMN) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,181 shares of the scientific and technical instruments company’s stock, valued at approximately $254,000.

Other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new position in Garmin in the fourth quarter valued at $26,000. Pinnacle Bancorp Inc. purchased a new position in shares of Garmin in the 4th quarter worth about $29,000. Larson Financial Group LLC boosted its holdings in shares of 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 worth $33,000 after purchasing an additional 162 shares in the last quarter. SOA Wealth Advisors LLC. bought a new position in shares of Garmin during the 4th quarter valued at about $37,000. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of Garmin during the 3rd quarter valued at about $39,000. 81.60% of the stock is currently owned by institutional investors.

Insider Transactions at Garmin

In other news, CFO Douglas G. Boessen sold 1,761 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $207.99, for a total value of $366,270.39. Following the completion of the sale, the chief financial officer now directly owns 27,612 shares of the company’s stock, valued at approximately $5,743,019.88. This trade represents a 6.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Clifton A. Pemble sold 7,202 shares of Garmin 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. The trade was a 4.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,274 shares of company stock worth $5,242,686. 19.54% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

Garmin Stock Performance

Shares of Garmin stock opened at $220.03 on Wednesday. Garmin Ltd. has a 52-week low of $138.30 and a 52-week high of $246.50. The company’s 50 day moving average price is $215.57 and its 200-day moving average price is $198.69. The stock has a market capitalization of $42.33 billion, a price-to-earnings ratio of 30.10, a P/E/G ratio of 1.36 and a beta of 0.98.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.51. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm earned $1.72 EPS. As a group, equities research analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The firm also recently disclosed 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. This represents a $3.60 annualized dividend and a yield of 1.64%. The ex-dividend date is Friday, March 13th. 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.