New York State Common Retirement Fund Sells 9,525 Shares of Garmin Ltd. (NYSE:GRMN)

New York State Common Retirement Fund decreased its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 3.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 237,588 shares of the scientific and technical instruments company’s stock after selling 9,525 shares during the period. New York State Common Retirement Fund owned 0.12% of Garmin worth $30,540,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Artisan Partners Limited Partnership raised its stake in Garmin by 2.5% during the 3rd quarter. Artisan Partners Limited Partnership now owns 7,246,834 shares of the scientific and technical instruments company’s stock worth $762,367,000 after buying an additional 176,510 shares during the period. Northern Trust Corp raised its stake in Garmin by 7.1% during the 3rd quarter. Northern Trust Corp now owns 1,630,148 shares of the scientific and technical instruments company’s stock worth $171,492,000 after buying an additional 108,427 shares during the period. Invesco Ltd. raised its stake in Garmin by 10.7% during the 3rd quarter. Invesco Ltd. now owns 1,411,205 shares of the scientific and technical instruments company’s stock worth $148,459,000 after buying an additional 136,929 shares during the period. California Public Employees Retirement System raised its stake in Garmin by 0.7% during the 4th quarter. California Public Employees Retirement System now owns 932,299 shares of the scientific and technical instruments company’s stock worth $119,838,000 after buying an additional 6,858 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Garmin by 4.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 813,137 shares of the scientific and technical instruments company’s stock worth $85,542,000 after buying an additional 33,580 shares during the period. Institutional investors own 73.41% of the company’s stock.

Garmin Trading Up 0.2 %

Shares of GRMN opened at $143.03 on Friday. The company has a market capitalization of $27.43 billion, a price-to-earnings ratio of 21.32, a PEG ratio of 4.68 and a beta of 0.98. The stock has a 50 day moving average of $142.08 and a 200 day moving average of $127.32. Garmin Ltd. has a 12 month low of $94.89 and a 12 month high of $149.54.

Garmin (NYSE:GRMN) last announced its quarterly earnings data 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. Garmin had a return on equity of 16.60% and a net margin of 24.67%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the company earned $1.35 earnings per share. Garmin’s revenue was up 13.3% compared to the same quarter last year. As a group, equities research analysts predict that Garmin Ltd. will post 5.45 earnings per share for the current year.

Garmin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.10%. The ex-dividend date is Friday, December 13th. Garmin’s dividend payout ratio (DPR) is 43.52%.

Insider Buying and Selling at Garmin

In other Garmin news, CEO Clifton A. Pemble sold 1,622 shares of the stock in a transaction 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 completion of 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 filing with the SEC, which is available through the SEC website. In other news, CEO Clifton A. Pemble sold 1,622 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $134.19, for a total value of $217,656.18. Following the completion of the transaction, the chief executive officer now directly owns 159,319 shares of the company’s stock, valued at $21,379,016.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Douglas G. Boessen sold 5,267 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $134.56, for a total value of $708,727.52. Following the completion of the transaction, the chief financial officer now directly owns 30,360 shares of the company’s stock, valued at $4,085,241.60. 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. Company insiders own 19.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Tigress Financial reissued a “strong-buy” rating and issued a $175.00 price objective (up from $165.00) on shares of Garmin in a research note on Tuesday, February 27th. JPMorgan Chase & Co. increased their price objective on Garmin from $139.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Bank of America increased their price objective on Garmin from $120.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Barrington Research increased their price objective on Garmin from $119.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 22nd. Finally, StockNews.com raised Garmin from a “hold” rating to a “buy” rating in a research note 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, Garmin 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.