Knowledge Leaders Capital LLC Has $1.47 Million Stock Holdings in Garmin Ltd. (NYSE:GRMN)

Knowledge Leaders Capital LLC lessened its position in shares of Garmin Ltd. (NYSE:GRMN) by 3.1% during the 4th quarter, HoldingsChannel reports. The fund owned 11,432 shares of the scientific and technical instruments company’s stock after selling 368 shares during the quarter. Garmin accounts for about 2.3% of Knowledge Leaders Capital LLC’s investment portfolio, making the stock its 14th largest holding. Knowledge Leaders Capital LLC’s holdings in Garmin were worth $1,469,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Bryn Mawr Capital Management LLC bought a new stake in Garmin in the fourth quarter valued at about $299,000. Trust Asset Management LLC bought a new stake in Garmin in the fourth quarter valued at about $230,000. Pittenger & Anderson Inc. increased its holdings in Garmin by 417.5% in the fourth quarter. Pittenger & Anderson Inc. now owns 6,210 shares of the scientific and technical instruments company’s stock valued at $798,000 after purchasing an additional 5,010 shares during the last quarter. Atria Wealth Solutions Inc. increased its holdings in Garmin by 6.6% in the fourth quarter. Atria Wealth Solutions Inc. now owns 7,925 shares of the scientific and technical instruments company’s stock valued at $1,019,000 after purchasing an additional 489 shares during the last quarter. Finally, Alaska Permanent Fund Corp bought a new stake in Garmin in the fourth quarter valued at about $1,729,000. Institutional investors and hedge funds own 73.41% of the company’s stock.

Insider Activity at Garmin

In related news, VP Susan Lyman sold 2,587 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $135.18, for a total transaction of $349,710.66. Following the completion of the transaction, the vice president now directly owns 7,174 shares of the company’s stock, valued at $969,781.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Susan Lyman sold 2,587 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $135.18, for a total transaction of $349,710.66. Following the completion of the transaction, the vice president now directly owns 7,174 shares of the company’s stock, valued at $969,781.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Clifton A. Pemble sold 1,622 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 159,319 shares of the company’s stock, valued at $21,379,016.61. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 99,476 shares of company stock valued at $14,166,944. Insiders own 19.89% of the company’s stock.

Analyst Ratings Changes

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

Garmin Stock Up 0.3 %

Shares of NYSE:GRMN traded up $0.42 during mid-day trading on Friday, reaching $143.45. 625,349 shares of the stock were exchanged, compared to its average volume of 770,905. The company has a market cap of $27.55 billion, a P/E ratio of 21.38, a P/E/G ratio of 4.69 and a beta of 0.98. Garmin Ltd. has a one year low of $95.40 and a one year high of $149.54. The stock’s 50 day simple moving average is $142.51 and its 200-day simple moving average is $127.57.

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

Garmin Announces Dividend

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

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.