Silver Oak Securities Incorporated Boosts Stock Position in Garmin Ltd. (NYSE:GRMN)

Silver Oak Securities Incorporated raised its stake in Garmin Ltd. (NYSE:GRMN) by 4,933.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,926 shares of the scientific and technical instruments company’s stock after buying an additional 3,848 shares during the quarter. Silver Oak Securities Incorporated’s holdings in Garmin were worth $505,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Greenleaf Trust boosted its holdings in Garmin by 2.5% in the fourth quarter. Greenleaf Trust now owns 3,518 shares of the scientific and technical instruments company’s stock worth $452,000 after acquiring an additional 87 shares in the last quarter. Blue Trust Inc. raised its position in Garmin by 35.2% during the fourth quarter. Blue Trust Inc. now owns 380 shares of the scientific and technical instruments company’s stock valued at $49,000 after acquiring an additional 99 shares in the last quarter. Independent Advisor Alliance raised its position in Garmin by 5.3% during the third quarter. Independent Advisor Alliance now owns 2,207 shares of the scientific and technical instruments company’s stock valued at $232,000 after acquiring an additional 111 shares in the last quarter. Lindbrook Capital LLC raised its position in Garmin by 32.0% during the fourth quarter. Lindbrook Capital LLC now owns 466 shares of the scientific and technical instruments company’s stock valued at $60,000 after acquiring an additional 113 shares in the last quarter. Finally, Balentine LLC raised its position in Garmin by 2.0% during the third quarter. Balentine LLC now owns 6,595 shares of the scientific and technical instruments company’s stock valued at $694,000 after acquiring an additional 131 shares in the last quarter. Hedge funds and other institutional investors own 73.41% of the company’s stock.

Insider Activity

In other news, VP Susan Lyman sold 2,587 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $135.18, for a total value of $349,710.66. Following the transaction, the vice president now owns 7,174 shares in the company, valued at approximately $969,781.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Jonathan Burrell sold 15,000 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $146.15, for a total value of $2,192,250.00. Following the completion of the sale, the director now directly owns 623,834 shares of the company’s stock, valued at approximately $91,173,339.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Susan Lyman sold 2,587 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $135.18, for a total value of $349,710.66. Following the completion of the sale, the vice president now directly owns 7,174 shares of the company’s stock, valued at $969,781.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 99,476 shares of company stock worth $14,166,944. 19.89% of the stock is currently owned by insiders.

Garmin Price Performance

Shares of NYSE GRMN opened at $145.18 on Tuesday. The stock’s 50-day moving average is $142.97 and its two-hundred day moving average is $128.11. Garmin Ltd. has a 1-year low of $95.79 and a 1-year high of $149.54. The company has a market cap of $27.89 billion, a price-to-earnings ratio of 21.64, a price-to-earnings-growth ratio of 4.70 and a beta of 0.98.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, February 21st. The scientific and technical instruments company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.32. Garmin had a return on equity of 16.60% and a net margin of 24.67%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the business earned $1.35 EPS. Garmin’s revenue was up 13.3% on a year-over-year basis. Equities research analysts anticipate that Garmin Ltd. will post 5.45 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, December 27th. Stockholders of record on Friday, December 13th will be issued 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 2.07%. Garmin’s payout ratio is currently 43.52%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. StockNews.com upgraded Garmin from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. Bank of America lifted their price target on Garmin from $120.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. Tigress Financial reiterated a “strong-buy” rating and set a $175.00 price target (up from $165.00) on shares of Garmin in a research report on Tuesday, February 27th. Barrington Research lifted their price target on Garmin from $119.00 to $140.00 and gave the company an “equal weight” rating in a research report on Thursday, February 22nd. Finally, JPMorgan Chase & Co. lifted their price target on Garmin from $139.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Five investment 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. According to MarketBeat, Garmin currently has a consensus rating of “Hold” and a consensus price target of $142.33.

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.