Garmin Ltd. (NYSE:GRMN) Shares Sold by Marshall Financial Group LLC

Marshall Financial Group LLC lessened its position in shares of Garmin Ltd. (NYSE:GRMN) by 11.5% during the 1st quarter, Holdings Channel reports. The firm owned 13,306 shares of the scientific and technical instruments company’s stock after selling 1,733 shares during the quarter. Marshall Financial Group LLC’s holdings in Garmin were worth $2,889,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of GRMN. Golden State Wealth Management LLC purchased a new position in shares of Garmin during the fourth quarter worth $26,000. Aster Capital Management DIFC Ltd boosted its stake in shares of Garmin by 864.3% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company’s stock worth $28,000 after buying an additional 121 shares during the last quarter. Kentucky Trust Co acquired a new stake in shares of Garmin during the 4th quarter worth approximately $41,000. Venturi Wealth Management LLC increased its holdings in shares of Garmin by 67.7% during the 4th quarter. Venturi Wealth Management LLC now owns 208 shares of the scientific and technical instruments company’s stock valued at $43,000 after purchasing an additional 84 shares in the last quarter. Finally, Investment Management Corp VA ADV acquired a new position in shares of Garmin in the 4th quarter valued at $46,000. 81.60% of the stock is owned by institutional investors and hedge funds.

Garmin Stock Down 0.4%

Shares of NYSE GRMN opened at $208.34 on Friday. The company’s 50-day simple moving average is $196.87 and its 200-day simple moving average is $208.02. Garmin Ltd. has a 52-week low of $158.38 and a 52-week high of $246.50. The firm has a market cap of $40.11 billion, a price-to-earnings ratio of 28.50, a price-to-earnings-growth ratio of 1.36 and a beta of 0.98.

Garmin (NYSE:GRMN) last issued its quarterly earnings results on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.01). Garmin had a net margin of 22.42% and a return on equity of 19.31%. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the business posted $1.42 earnings per share. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. Equities research analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 16th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.73%. Garmin’s payout ratio is currently 47.37%.

Wall Street Analyst Weigh In

Several research firms recently commented on GRMN. Morgan Stanley raised their price target on shares of Garmin from $159.00 to $172.00 and gave the company an “underweight” rating in a research report on Thursday, May 1st. Barclays dropped their target price on Garmin from $188.00 to $152.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 30th. JPMorgan Chase & Co. reduced their price target on Garmin from $220.00 to $215.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. Finally, Tigress Financial raised their price objective on Garmin from $265.00 to $285.00 and gave the company a “strong-buy” rating in a report on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a strong buy rating to the company. According to MarketBeat.com, Garmin has a consensus rating of “Hold” and an average target price of $206.00.

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.