Disciplined Growth Investors Inc. MN Raises Stake in Garmin Ltd. (GRMN)

Disciplined Growth Investors Inc. MN lifted its position in Garmin Ltd. (NASDAQ:GRMN) by 0.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,624,085 shares of the scientific and technical instruments company’s stock after purchasing an additional 9,409 shares during the quarter. Garmin comprises about 1.9% of Disciplined Growth Investors Inc. MN’s investment portfolio, making the stock its 20th biggest position. Disciplined Growth Investors Inc. MN owned about 0.87% of Garmin worth $96,747,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of GRMN. Heartland Advisors Inc. bought a new stake in shares of Garmin in the fourth quarter worth about $208,000. Garrison Financial Corp bought a new stake in shares of Garmin in the fourth quarter worth about $211,000. LMR Partners LLP bought a new stake in shares of Garmin in the fourth quarter worth about $283,000. Financial Advocates Investment Management bought a new stake in shares of Garmin in the fourth quarter worth about $320,000. Finally, Tiedemann Wealth Management LLC increased its holdings in shares of Garmin by 16.3% in the third quarter. Tiedemann Wealth Management LLC now owns 16,068 shares of the scientific and technical instruments company’s stock worth $324,000 after purchasing an additional 2,253 shares during the last quarter. 39.29% of the stock is currently owned by hedge funds and other institutional investors.

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Garmin Ltd. (NASDAQ GRMN) opened at $59.84 on Tuesday. Garmin Ltd. has a 12-month low of $48.50 and a 12-month high of $65.96. The stock has a market capitalization of $11,906.43, a P/E ratio of 20.45, a price-to-earnings-growth ratio of 2.36 and a beta of 0.97.

Garmin (NASDAQ:GRMN) last announced its earnings results on Wednesday, February 21st. The scientific and technical instruments company reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.04. Garmin had a return on equity of 15.16% and a net margin of 22.51%. The business had revenue of $888.49 million during the quarter, compared to analyst estimates of $872.73 million. During the same quarter in the previous year, the business earned $0.73 earnings per share. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. analysts forecast that Garmin Ltd. will post 3.05 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Monday, June 18th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 3.54%. This is a positive change from Garmin’s previous quarterly dividend of $0.51. Garmin’s payout ratio is 55.43%.

Several equities research analysts have recently issued reports on GRMN shares. ValuEngine raised Garmin from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. BidaskClub cut Garmin from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. Zacks Investment Research raised Garmin from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research note on Thursday, January 4th. Credit Suisse Group reissued an “underperform” rating and set a $58.00 price objective (up from $48.00) on shares of Garmin in a research note on Tuesday, December 12th. Finally, Tigress Financial reissued a “buy” rating on shares of Garmin in a research note on Friday, December 15th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $57.13.

In related news, insider Pao-Chang Huang sold 4,800 shares of the business’s stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $60.37, for a total value of $289,776.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Andrew R. Etkind sold 1,929 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $60.61, for a total value of $116,916.69. The disclosure for this sale can be found here. Insiders have sold 52,842 shares of company stock valued at $3,359,960 in the last 90 days. Company insiders own 18.30% of the company’s stock.

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Garmin Company 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.

Institutional Ownership by Quarter for Garmin (NASDAQ:GRMN)

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