Northwestern Mutual Wealth Management Co. lessened its stake in Garmin Ltd. (NYSE:GRMN – Get Rating) by 18.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,249 shares of the scientific and technical instruments company’s stock after selling 727 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Garmin were worth $385,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Riverview Trust Co acquired a new stake in Garmin during the 1st quarter worth $26,000. HWG Holdings LP acquired a new position in shares of Garmin in the 4th quarter valued at $35,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Garmin in the 1st quarter valued at $45,000. Tradewinds Capital Management LLC grew its holdings in shares of Garmin by 33.3% in the 1st quarter. Tradewinds Capital Management LLC now owns 400 shares of the scientific and technical instruments company’s stock valued at $47,000 after buying an additional 100 shares during the period. Finally, Focused Wealth Management Inc acquired a new position in shares of Garmin in the 1st quarter valued at $71,000. Institutional investors own 72.11% of the company’s stock.
Garmin Price Performance
Shares of NYSE:GRMN opened at $94.30 on Tuesday. The company’s 50-day moving average price is $99.00 and its two-hundred day moving average price is $106.78. Garmin Ltd. has a one year low of $92.31 and a one year high of $178.80. The stock has a market capitalization of $18.19 billion, a PE ratio of 18.00, a price-to-earnings-growth ratio of 3.54 and a beta of 0.95.
Garmin (NYSE:GRMN – Get Rating) last issued its quarterly earnings results on Wednesday, July 27th. The scientific and technical instruments company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.42 by $0.02. Garmin had a net margin of 20.31% and a return on equity of 17.71%. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the previous year, the firm posted $1.68 EPS. The company’s revenue for the quarter was down 6.5% on a year-over-year basis. On average, analysts anticipate that Garmin Ltd. will post 4.9 earnings per share for the current fiscal year.
Garmin Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be issued a $0.73 dividend. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.10%. Garmin’s payout ratio is 55.73%.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the stock. Morgan Stanley decreased their price target on shares of Garmin from $127.00 to $115.00 and set an “equal weight” rating for the company in a report on Tuesday, June 14th. Tigress Financial decreased their price target on shares of Garmin from $208.00 to $165.00 and set a “strong-buy” rating for the company in a report on Friday, August 5th. TheStreet cut shares of Garmin from a “b” rating to a “c+” rating in a research report on Wednesday, July 27th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Garmin from $160.00 to $150.00 in a research report on Thursday, April 28th. Finally, Bank of America cut shares of Garmin from a “buy” rating to a “neutral” rating and cut their price objective for the company from $137.00 to $109.00 in a research report on Tuesday, August 2nd. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Garmin has a consensus rating of “Moderate Buy” and a consensus target price of $134.75.
In other news, CEO Clifton A. Pemble sold 16,089 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $97.81, for a total value of $1,573,665.09. Following the sale, the chief executive officer now directly owns 145,500 shares of the company’s stock, valued at approximately $14,231,355. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 20.34% of the stock is owned by insiders.
Garmin Company Profile
Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices in the Americas, the Asia Pacific, Australian Continent, Europe, the Middle East, and Africa. Its Fitness segment offers running and multi-sport watches; cycling products; activity tracking and smartwatch devices; and fitness and cycling accessories.
Receive News & Ratings for Garmin Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Garmin and related companies with MarketBeat.com’s FREE daily email newsletter.