Outlook Wealth Advisors LLC Acquires Shares of 1,879 Garmin Ltd. (NYSE:GRMN)

Outlook Wealth Advisors LLC acquired a new stake in Garmin Ltd. (NYSE:GRMN) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,879 shares of the scientific and technical instruments company’s stock, valued at approximately $242,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Avior Wealth Management LLC increased its stake in shares of Garmin by 169.5% during the third quarter. Avior Wealth Management LLC now owns 283 shares of the scientific and technical instruments company’s stock worth $30,000 after purchasing an additional 178 shares in the last quarter. Clear Street Markets LLC increased its stake in shares of Garmin by 107.1% during the first quarter. Clear Street Markets LLC now owns 321 shares of the scientific and technical instruments company’s stock worth $32,000 after purchasing an additional 166 shares in the last quarter. Headinvest LLC purchased a new stake in shares of Garmin during the third quarter worth about $41,000. Blue Trust Inc. increased its stake in shares of Garmin by 35.2% during the fourth quarter. Blue Trust Inc. now owns 380 shares of the scientific and technical instruments company’s stock worth $49,000 after purchasing an additional 99 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Garmin during the fourth quarter worth about $51,000. Hedge funds and other institutional investors own 73.41% of the company’s stock.

Garmin Stock Down 2.0 %

NYSE:GRMN traded down $2.97 on Friday, hitting $143.11. The stock had a trading volume of 739,971 shares, compared to its average volume of 774,519. The stock has a market cap of $27.45 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 4.69 and a beta of 0.98. The company has a fifty day moving average price of $138.61 and a two-hundred day moving average price of $125.14. Garmin Ltd. has a 1-year low of $94.89 and a 1-year high of $149.54.

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

Garmin Dividend Announcement

The business also recently disclosed 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 is Friday, December 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.10%. Garmin’s payout ratio is currently 43.52%.

Insider Buying and Selling

In related news, VP Susan Lyman sold 2,587 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were 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 owns 7,174 shares of the company’s stock, valued at approximately $969,781.32. The transaction was disclosed in a 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 shares were 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 owns 7,174 shares of the company’s stock, valued at approximately $969,781.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jonathan Burrell sold 15,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $140.00, for a total transaction of $2,100,000.00. Following the transaction, the director now directly owns 758,834 shares of the company’s stock, valued at approximately $106,236,760. The disclosure for this sale can be found here. In the last quarter, insiders sold 99,476 shares of company stock valued at $14,166,944. Company insiders own 19.89% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Tigress Financial reaffirmed a “strong-buy” rating and set a $175.00 price objective (up previously from $165.00) on shares of Garmin in a research note on Tuesday, February 27th. StockNews.com raised shares of Garmin from a “hold” rating to a “buy” rating in a research note on Thursday. Bank of America upped their price objective on shares of Garmin from $120.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Barrington Research upped their price objective on shares of Garmin from $119.00 to $140.00 and gave the company an “equal weight” rating in a research note on Thursday, February 22nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Garmin from $139.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday. Six research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Garmin presently has an average rating of “Hold” and a consensus target price 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.