Axa Acquires New Position in Garmin Ltd. (GRMN)

Axa acquired a new position in Garmin Ltd. (NASDAQ:GRMN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,200 shares of the scientific and technical instruments company’s stock, valued at approximately $370,000.

Other institutional investors have also bought and sold shares of the company. New York State Common Retirement Fund lifted its stake in shares of Garmin by 7.5% during the third quarter. New York State Common Retirement Fund now owns 284,900 shares of the scientific and technical instruments company’s stock valued at $15,376,000 after acquiring an additional 19,900 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Garmin by 590.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 147,616 shares of the scientific and technical instruments company’s stock valued at $7,967,000 after acquiring an additional 126,244 shares during the period. ING Groep NV lifted its stake in shares of Garmin by 51.7% during the third quarter. ING Groep NV now owns 9,590 shares of the scientific and technical instruments company’s stock valued at $518,000 after acquiring an additional 3,267 shares during the period. Great West Life Assurance Co. Can lifted its stake in shares of Garmin by 4.8% during the third quarter. Great West Life Assurance Co. Can now owns 88,500 shares of the scientific and technical instruments company’s stock valued at $4,775,000 after acquiring an additional 4,042 shares during the period. Finally, Ffcm LLC lifted its stake in shares of Garmin by 105.9% during the third quarter. Ffcm LLC now owns 9,905 shares of the scientific and technical instruments company’s stock valued at $535,000 after acquiring an additional 5,094 shares during the period. 39.29% of the stock is currently owned by institutional investors.

In other Garmin news, insider Min H. Kao sold 262,611 shares of the stock in a transaction dated Tuesday, March 20th. The stock was sold at an average price of $60.04, for a total value of $15,767,164.44. Following the completion of the sale, the insider now directly owns 8,760,554 shares in the company, valued at $525,983,662.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Clifton A. Pemble sold 36,208 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $65.00, for a total value of $2,353,520.00. The disclosure for this sale can be found here. Insiders sold 465,453 shares of company stock valued at $28,134,625 in the last quarter. 18.30% of the stock is currently owned by corporate insiders.

Several brokerages have recently issued reports on GRMN. Zacks Investment Research lowered Garmin from a “buy” rating to a “hold” rating in a research note on Friday. BidaskClub raised Garmin from a “hold” rating to a “buy” rating in a research note on Thursday, March 15th. ValuEngine lowered Garmin from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Tigress Financial reaffirmed a “buy” rating on shares of Garmin in a research note on Monday, March 12th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $60.00 price target (up previously from $57.00) on shares of Garmin in a research note on Thursday, February 22nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $57.00.

Shares of Garmin Ltd. (NASDAQ:GRMN) opened at $57.68 on Monday. The company has a market capitalization of $11,425.08, a PE ratio of 15.67, a P/E/G ratio of 2.27 and a beta of 0.97. Garmin Ltd. has a fifty-two week low of $48.50 and a fifty-two week high of $65.96.

Garmin (NASDAQ:GRMN) last released its quarterly earnings data on Wednesday, February 21st. The scientific and technical instruments company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.04. The business had revenue of $888.49 million during the quarter, compared to the consensus estimate of $872.73 million. Garmin had a return on equity of 15.16% and a net margin of 22.51%. The firm’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.73 earnings per share. equities analysts expect that Garmin Ltd. will post 3.05 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Monday, June 18th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 3.68%. This is an increase from Garmin’s previous quarterly dividend of $0.51. Garmin’s dividend payout ratio is currently 55.43%.

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Garmin Profile

Garmin Ltd. (Garmin) and subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. The Company operates through five segments. It offers a range of auto navigation products, as well as a range of products and applications designed for the mobile GPS market. It offers products to consumers around the world, including Outdoor Handhelds, Wearable Devices, Golf Devices, and Dog Tracking and Training/Pet Obedience Devices.

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Institutional Ownership by Quarter for Garmin (NASDAQ:GRMN)

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