NewSquare Capital LLC Buys 226 Shares of Garmin Ltd. (NYSE:GRMN)

NewSquare Capital LLC grew its position in shares of Garmin Ltd. (NYSE:GRMN) by 0.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 33,415 shares of the scientific and technical instruments company’s stock after purchasing an additional 226 shares during the quarter. NewSquare Capital LLC’s holdings in Garmin were worth $4,237,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in GRMN. Wetzel Investment Advisors Inc. purchased a new stake in shares of Garmin during the fourth quarter valued at approximately $26,000. Avior Wealth Management LLC grew its stake in Garmin by 169.5% in the 3rd quarter. Avior Wealth Management LLC now owns 283 shares of the scientific and technical instruments company’s stock valued at $30,000 after purchasing an additional 178 shares during the period. Headinvest LLC purchased a new stake in shares of Garmin during the 3rd quarter valued at $41,000. Blue Trust Inc. boosted its holdings in shares of Garmin by 35.2% in the 4th quarter. Blue Trust Inc. now owns 380 shares of the scientific and technical instruments company’s stock worth $49,000 after buying an additional 99 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in shares of Garmin in the 4th quarter worth about $51,000. Institutional investors own 73.41% of the company’s stock.

Analyst Ratings Changes

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

Garmin Stock Performance

Garmin stock traded up $0.40 during midday trading on Wednesday, hitting $142.91. 241,750 shares of the company’s stock were exchanged, compared to its average volume of 939,326. The stock has a 50-day moving average price of $141.30 and a two-hundred day moving average price of $127.10. Garmin Ltd. has a 52-week low of $94.89 and a 52-week high of $149.54. The company has a market cap of $27.41 billion, a P/E ratio of 21.30, a PEG ratio of 4.62 and a beta of 0.98.

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

Garmin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a $0.75 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.10%. Garmin’s dividend payout ratio (DPR) is 44.71%.

Insider Buying and Selling

In related news, CEO Clifton A. Pemble sold 1,622 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $134.19, for a total transaction of $217,656.18. Following the transaction, the chief executive officer now directly owns 159,319 shares in the company, valued at approximately $21,379,016.61. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Clifton A. Pemble sold 1,622 shares of Garmin 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 transaction, the chief executive officer now directly owns 159,319 shares of the company’s stock, valued at $21,379,016.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jonathan Burrell sold 15,000 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $148.89, for a total transaction of $2,233,350.00. Following the sale, the director now directly owns 653,834 shares of the company’s stock, valued at approximately $97,349,344.26. The disclosure for this sale can be found here. Insiders have sold a total of 99,476 shares of company stock worth $14,166,944 in the last 90 days. 19.89% of the stock is owned by company insiders.

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.