Envestnet Portfolio Solutions Inc. Has $1.35 Million Holdings in Garmin Ltd. (NYSE:GRMN)

Envestnet Portfolio Solutions Inc. increased its position in shares of Garmin Ltd. (NYSE:GRMN) by 192.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,551 shares of the scientific and technical instruments company’s stock after purchasing an additional 4,311 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Garmin were worth $1,351,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in GRMN. Frank Rimerman Advisors LLC grew its stake in shares of Garmin by 2.0% in the fourth quarter. Frank Rimerman Advisors LLC now owns 6,357 shares of the scientific and technical instruments company’s stock valued at $1,311,000 after acquiring an additional 125 shares in the last quarter. Ironwood Investment Counsel LLC acquired a new stake in shares of Garmin in the fourth quarter valued at approximately $223,000. Madison Investment Advisors LLC bought a new stake in shares of Garmin in the fourth quarter valued at approximately $904,000. Bowen Hanes & Co. Inc. grew its holdings in shares of Garmin by 1.7% during the 4th quarter. Bowen Hanes & Co. Inc. now owns 225,365 shares of the scientific and technical instruments company’s stock worth $46,484,000 after purchasing an additional 3,690 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Garmin during the fourth quarter worth about $2,749,000. 81.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 2,763 shares of Garmin stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $226.55, for a total value of $625,957.65. Following the sale, the chief financial officer now owns 30,936 shares of the company’s stock, valued at approximately $7,008,550.80. The trade was a 8.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Clifton A. Pemble sold 7,202 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 149,525 shares of the company’s stock, valued at $33,963,108.50. This represents a 4.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,342 shares of company stock worth $5,486,094. Corporate insiders own 19.54% of the company’s stock.

Wall Street Analyst Weigh In

GRMN has been the topic of several research reports. JPMorgan Chase & Co. lifted their price target on shares of Garmin from $219.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Barclays increased their price target on Garmin from $158.00 to $188.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. Morgan Stanley raised shares of Garmin to a “sell” rating and lifted their target price for the stock from $164.00 to $171.00 in a research note on Tuesday, February 11th. Finally, Tigress Financial lifted their target price on Garmin from $265.00 to $285.00 and gave the stock a “strong-buy” rating in a report on Wednesday, February 26th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Garmin has a consensus rating of “Hold” and an average price target of $210.80.

Garmin Trading Up 0.5 %

GRMN opened at $209.78 on Friday. Garmin Ltd. has a 1-year low of $138.86 and a 1-year high of $246.50. The company has a market cap of $40.36 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 1.36 and a beta of 0.96. The company’s fifty day moving average price is $216.96 and its two-hundred day moving average price is $201.51.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, February 19th. The scientific and technical instruments company reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.51. The company 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 firm’s revenue was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.72 EPS. As a group, equities analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Friday, March 13th. Garmin’s payout ratio is currently 41.04%.

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.